How is superyacht insurance cost determined?

Premium depends on hull value, vessel age and build, cruising area, crew size, chartering activity, loss history, and the flag state. Expanded navigation limits and commercial charter use generally increase rates. Deductibles and warranty terms also influence the final premium.

What is the difference between hull & machinery and P&I?

Hull & machinery (H&M) covers physical damage to the vessel itself — the hull, engines, and permanently installed equipment. Protection & indemnity (P&I) covers third-party liabilities arising from the vessel's operation, including crew injury, pollution, wreck removal, and collision liabilities beyond H&M limits. Most superyacht programmes place both, often through separate specialist markets.

Does chartering my yacht affect my insurance?

Yes. Commercial charter use changes the risk profile and requires the vessel to be endorsed for charter, with liability limits, crew coverages, and passenger liabilities reviewed against charter contract terms. Some private policies exclude charter income activity entirely, so a purpose-built charter placement or endorsement is required before the first paid guest embarks.

Aerial view of a superyacht fleet anchored off St Tropez at golden hour

SRMG

Yacht & Crew

Built around how the vessel actually operates.

Owners, captains, family offices, DPAs — we work directly with the people making the decisions. Every programme is structured to eliminate gaps, satisfy every registry, and keep the boat covered wherever she cruises. Every programme built by hand, senior broker to senior broker. The same broker on the placement, the mid-term change, and the claim.

Yacht insurance for large and chartered vessels combines hull & machinery cover (physical damage on an agreed-value basis), protection & indemnity (third-party liability), and crew coverages including medical and employer liability. Programmes are structured around flag state, cruising areas, and charter use, and placed with specialist marine underwriters.

What we cover

Programme structure

Hull & Machinery (H&M)

Physical damage to the vessel — from the hull down to the integrated bridge systems, satellite comms, and everything in between.

Protection & Indemnity (P&I)

Full third-party liability. Crew claims, pollution, wreck removal, legal defence, guest injury, and everything else that lands on the owner when something goes wrong.

Agreed Value

You know what the yacht is worth. Your insurance should too. Agreed valuation at inception — no depreciation arguments at settlement, no surprises at total loss.

Charter Usage

Commercial endorsements for chartered yachts, compliant with MCA LY3, Cayman, Malta, Marshall Islands, and whichever flag applies. Your charter agreement decides the wording — drafted line by line to the flag and the fixture.

Crew Medical & Employer Liability

MLC-compliant crew cover with Jones Act extensions where needed, and global medevac coordination through vetted providers. Your crew stays covered from Antibes to Antigua and back.

Tenders, Toys & Tech

Jet skis, seabobs, submarines, helicopters, custom carbon tenders. If it floats, flies from the deck, or lives in the beach club — it's insured to its real value, on the same programme.

Cyber Risk

Onboard networks, ECDIS, satellite links, charter guest records, and the payment systems in the beach club — all covered against breach, ransomware, and system failure.

Onboard Valuables

Fine art, watches, wine, personal effects. Endorsements on the same schedule as the hull, valued correctly so a claim doesn't turn into a negotiation.

SRMG Solutions

Navigation freedom. Registry aligned.

We build programmes to match how the yacht is actually used:

Aerial view of a superyacht cruising open Mediterranean water at golden hour.

Med-based with Caribbean winters — Atlantic covered end to end
Red Ensign flagged vessels under commercial charter
Transatlantic repositioning with seasonal crew rotations
Multi-owner and corporate-held yachts with layered ownership structures
Sailing yachts and classic vessels with bespoke valuations

Who we advise

A yacht owner on the dock at sunset looking at their moored superyacht.

UHNW owners and family offices
Charter management teams and central agents
Yacht brokers, DPAs, and legal custodians
Captains, engineers, and technical managers

Why SRMG

Independent since 1990. No conflicts. No captive markets. Your interest first.

Direct access to Lloyd's syndicates, European yacht underwriters, and specialty markets worldwide
Discreet, in-house claims management — same broker end to end
Flag and class registry coordination, handled for you
Portfolio experience from 10m express cruisers to 90m+ crewed yachts

the team understood the way my family actually uses the yacht — not just the way the specification says it can be used. That's a different conversation than I've had with any broker before, and it produced a different programme.

OWNER · 42M MOTORYACHT · 🇲🇨

Frequently asked

Yacht insurance questions

Superyacht programmes combine hull & machinery cover for physical loss or damage to the vessel and its equipment on an agreed-value basis, protection & indemnity (P&I) for third-party liabilities, and crew coverages including medical expenses and employer liability. Owners typically add tender & toys, personal effects, and war risk extensions. Programmes are structured around flag state, cruising area, and charter use.

Last reviewed: July 2026