Yacht Insurance
Definition of "Yacht insurance"
Coverage for fire and explosion, against fire and any damage caused by explosion whether or not fire ensues, and whether or not an explosion occurs on- or off-board; sinking from floating debris, sunken hulks, and reefs; stranding against sand bars and filled channels resulting in salvage costs, material and labor expenses to refloat and repair a yacht; collision causing legal liability for damage to another vessel; assailing thieves (theft by forcible entry); and jettison and barratry of mariners or masters. Coverage for liability for bodily injury and loss of life is available through ocean marine protection and indemnity insurance.
Popular Insurance Terms
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largest amount of reinsurance available from a company or from the general market; large amounts of reinsurance on one risk; or maximum premium volume that can be written by a reinsurer. ...
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Process of discovering sources of loss concerning the property risk faced by individuals and business firms. The first step is to analyze possible perils that can damage or destroy both ...
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