Key Questions Answered

Crew Insurance

Global crew medical insurance is an international health insurance plan designed for professional yacht captains and crew who are working onboard a vessel and traveling internationally. The health insurance plans cover inside and outside the individuals’ home country, while working, during time off, on vacation and while taking courses.

All three are medical charges you must pay out of your own pocket, even if you have insurance.  Your deductible, or excess is the initial amount you must pay each year for covered health services before your insurer will start to pay.

A copayment is a fixed amount, or fee, that you pay toward a medical service, such as $30 for a doctor visit, or $10 for a prescription. Coinsurance is a cost-sharing feature between you and the insurance company. It’s a percentage, usually 80/20. The insurance company pays 80% and you pay 20% toward the medical bills, AFTER the deductible has been met. Plans often have this feature in the U.S., due to the high medical costs. Outside the U.S., the same plans can pay 100% of the bills after the deductible.

Global crew medical insurance is not the same as travel medical insurance. Travel medical insurance only covers unexpected travel related medical- or accidental incidents that occur while traveling outside your home country. Coverage is often excluded for any pre-existing medical conditions.

Global medical insurance provides worldwide coverage, including your home country, for preventative care, maternity care, and other benefits that may not be covered by travel medical insurance. The crew medical plans can be purchased for a long period of time, while travel medical insurance plans only cover for a limited period of time.

Worldwide crew health insurance provides crew members with both routine and emergency healthcare and features great flexibility to cater to the marine industry for extended periods of time. Global crew medical insurance plans cover inside and outside of the individuals home country.

While working and living internationally onboard a yacht, you may not be covered by your domestic insurance plan, putting you at risk of paying for expensive healthcare if you require any medical attention. If you are living or working outside your home country as a professional crew member, international crew health insurance provides medical coverage in any country, including your home country. One plan provides worldwide coverage.

International crew medical plans cover essential medical services, including but not limited to; preventative care, physical exams, hospitalization, ER, maternity care, prescription drugs, medical evacuation, home health care or hospice, chiropractic  services, among other benefits. Please make sure to review the coverage carefully, as certain benefits may have waiting periods.

In most cases the domestic health insurance plans don’t cover crew members who are traveling abroad for extended periods of time working on yachts. If an employer/yacht owner provides global crew medical group insurance for its crew, they can enjoy the benefit of being covered outside their home country as well as in their home country, while working and during time off 24/7/365.

Global crew medical expat insurance is available for captains and crew members of any Citizenship. Plans are usually offered up to age 74 or 75.

Yes, global crew medical insurance plans give you access to healthcare all over the world, inside and outside of the U.S. Certain plans give you a choice to EXCLUDE coverage inside the U.S., if you don’t need it and the premium will therefore be less. Please review your insurance plan offerings.

Certain group insurance policies offer maternity benefits from day 1. However, it’s more common that there’s a waiting period for these types of benefits, of 10 to 12 months.

Most watersports are usually covered under the standard plan, such as snorkeling, driving tender and jet skis, and if not, you can add a “sports rider” for extra premium. Some plans may exclude scuba diving or have certain restrictions on the coverage, such as depth and that you have to dive with a companion. There are also diving specific plans available.

Yacht Insurance

Yacht insurance is a specialized marine insurance policy designed to protect your yacht against risks such as physical damage, theft, liability, and certain emergencies while on the water or in storage.

Coverage varies by policy, but most yacht insurance plans include:

  • Hull & Machinery Coverage – Damage to the yacht itself
  • Liability Coverage (P&I)– Injury or property damage to others
  • Personal Effects Coverage – Belongings onboard
  • Medical Payments – Injuries to you or passengers
  • Uninsured Boater Coverage – Protection if another boater lacks insurance
  • Towing & Assistance – Emergency towing and breakdown support

It depends on your location and circumstances. While not always legally required, marinas, lenders, and charter companies often require proof of insurance before docking, financing, or chartering a yacht.

  • Premiums depend on several factors:
  • Yacht value and size
  • Type (sailing yacht, motor yacht, catamaran)
  • Age and condition
  • Navigation area
  • Claims history
  • Owner’s boating experience

Generally, annual premiums range from 1% to 5% of the yacht’s insured value. View coverage

Many policies cover storm damage, but some may:

  • Require higher deductibles for named storms
  • Exclude certain high-risk regions during hurricane season
  • Require a hurricane preparedness plan
  • Always review your policy details carefully.

If you hire professional crew, you may need:

  • Crew Medical Insurance (the yacht insurance may require it)
  • Crew Liability Insurance (usually included under the yacht’s liability insurance)

Yes, most comprehensive yacht insurance P&I policies include salvage and wreck removal costs, which can be substantial after a serious incident.

A wreck removal certificate is issued by the flag state after submission of the wreck removal coverage to the flag state.

Navigation limits define the specific geographic boundaries where the yacht is covered. Coverage may
be limited to:

  • Inland waters
  • Coastal waters
  • International cruising regions
  • Sailing outside your approved territory may void coverage unless pre-approved.

Key Aspects of Navigational Limits:

  • Seasonal Restrictions:
  • Coverage may be restricted or excluded during high-risk times, such as hurricane season.
  • Breach of Warranty:
  • Operating outside these limits is a breach of contract, which can lead to claims being denied.

Coverage Extensions:

If you plan to travel outside your coverage limits, you can often obtain a temporary endorsement from your insurer to maintain coverage.

Risk Management:

Limits are set based on the yacht’s size, type, and the risk level of the location

If you finance your yacht, the lender technically has a financial stake in the boat until it’s fully paid off. To protect that investment, lenders typically require:

  • Hull coverage for the full agreed value or loan amount
  • Liability coverage, often with a minimum limit.
  • The lender listed as a loss payee on the policy
  • Proof of insurance before releasing funds

Without meeting these requirements, the loan usually won’t be approved or finalized.

Marinas and yacht clubs require insurance mainly to reduce their own liability exposure. They commonly require:

  • Protection & Indemnity (liability) coverage
  • Minimum liability limits
  • Proof of coverage before issuing a slip agreement

This protects the marina if your yacht causes damage to docks, other
boats, or results in injury.

Even if yacht insurance isn’t legally required in your area, it is often
practically mandatory due to marina rules.

Typically, insurers request:

  • Completed quote form/application
  • Vessel survey (especially for older yachts)
  • Proof of ownership
  • Captain’s CV
  • Prior claims history
  • Current registration
  • Shop the insurance
  • Choosing higher deductibles
  • Maintaining a clean claims history
  • Storing the yacht in secure marina

Common exclusions may include:

  • Normal wear and tear
  • Lack of maintenance
  • Marine life damage (sometimes excluded)
  • Intentional acts
  • War and nuclear risks
  • Always review exclusions carefully.

If an incident occurs:

  • Ensure safety of passengers and crew
  • Notify authorities if required
  • Document damage with photos
  • Contact your insurer immediately
  • Prompt reporting helps speed up the claims process.

Agreed Value: You and the insurer agree on the yacht’s value upfront. In case of total loss, you receive that agreed amount.

Actual Cash Value (ACV): The payout is based on the yacht’s depreciated market value at the time of loss.

Agreed value policies typically cost more but offer more predictable payouts.