Do I need travel insurance for a yacht charter?

Answer

Travel insurance is strongly worth considering for a yacht charter because the financial commitment can be substantial and travel-related problems can arise before or during the trip.

Depending on the policy, cover may address matters such as medical emergencies, trip cancellation, interruption, lost luggage or other travel risks.

Specialist charter-related insurance may also be available for certain contractual or cancellation risks. The policy wording and exclusions should be carefully reviewed.

Analysis

Ordinary travel insurance does not necessarily cover every risk associated with a yacht charter. The level and type of cover required depends on the value of the booking, destination, activities and individual circumstances.

Insurance should be considered before the charter contract is signed, particularly where cancellation protection is important.

Broker Comment

Given the value of many yacht charters, we recommend discussing appropriate insurance early rather than treating it as an afterthought. Check exactly what is and isn't covered.