Marine & Mega Yacht
PLAN FOR THE FUTURE
Protect your assets… and your happiness
ELEVATED GUIDANCE
Expertise at the helm of your risk management
We understand that your life is anything but ordinary, so your coverage should be, too. Protecting luxury vessels requires an extra level of finesse and a deeper understanding of the exposures that owners face. With the skillset to craft solutions that will protect you and your watercraft, along with a commitment to provide personalized, unparalleled service, our advisors will help you navigate the insurance landscape with confidence.
FUNDAMENTAL COVERAGE
Solutions designed to perform
With a deep understanding of the unique exposures that come with owning luxury boats and mega yachts, we’re highly experienced in customizing insurance solutions to meet your needs, aspirations, and future journeys. Solutions can include these and more:
Agreed value coverage
The agreed upon amount is what the insurer will pay. No deductible, no hidden stipulations – just total loss with replacement cost coverage.
Replacement cost loss settlement
Depreciation-free replacement or repair of partial loss for insured property.
Liability protection
Specialized coverage limits to match your specialized needs, including legal fees, Oil Pollution Act (OPA) of 1990 liability, Jones Act coverage, Longshore and Harbor Workers’ Compensation Act (LHWCA) coverage, and wreck removal.
Uninsured/underinsured boater coverage
Bodily injury coverage for those who are injured aboard your insured vessel by an operator of an uninsured/underinsured vessel.
Search and rescue
Depending on your level of coverage, expenses incurred by a governmental unit to come to your aid may be included.
Personal property and fishing equipment coverage
If it’s on your watercraft and it belongs to you or your passengers, it’s most likely covered. This includes clothing, personal items, and fishing equipment.
Coverage for marinas as additional insured
Does your vessel get stored at a yacht club, marina, or other similar mooring facility? That could be included under Additional Insureds.
Trailer coverage
The trailer used for your insured luxury watercraft can be covered.
Emergency towing and assistance
Never be without a paddle. This coverage can be included in the policies we secure for you.
Boat show and demonstration coverage
This coverage can be included if you decide to display your luxury watercraft at a show or demonstration.
Precautionary measures
We can’t plan for everything, but we know how to respond to help protect your assets. The policies we help secure could cover reasonable costs for hull, haul out, dock, or fuel that is damaged by your insured vessel under a covered peril.
Bottom inspection
Inspecting your insured vessel after a stranding, grounding, or striking of a submerged object is usually a deductible-free feature.
Temporary substitute watercraft
If your insured vessel is out of commission resulting from a covered loss and cannot be repaired within 72 hours, this coverage could help provide a substitute watercraft.
Marine environmental damage coverage
Financial protection that could help cover penalties and fines resulting from marine environmental damage. This coverage is provided in addition to applicable liability and OPA limits.
THE BALDWIN GROUP INSIGHTS
Stay in the know
Our experts monitor global events and the insurance industry to provide meaningful insights and help break down what you need to know, potential impacts, and how you should respond.
Open the door to possibilities
When you decide to partner with us, you choose to navigate the waters with solutions and professionals as unique as your lifestyle.