Definition of "Yacht insurance"

Steve Jason real estate agent

Written by

Steve Jasonelite badge icon

All Access Realty

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.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Landmark legislation passed by Congress providing the first regulation of the securities markets. The law, enforced by the securities and exchange commission (sec), requires registration of ...

Tax assessed by the states as a payroll tax on employers to pay for unemployment compensation ...

Method of classifying risks to establish equitable rates. In many property and liability insurance lines, the location of an insured has a significant impact on the loss experience. For ...

Injury that continues after a wound from physical or psychic entry. (The latter is a wound that makes a lasting impression on the mind, especially upon the subconscious mind; for example, a ...

Coverage for property damage by a covered peril to insured cotton during the time period from its weighing in at the gin until its delivery to the buyer. Written either on a specified peril ...

Ownership of property by two or more persons who do not have rights of survivor ship. The share of a deceased tenant passes to that person's heirs and not to the other tenants. Because ...

Term that describes commercial insurance with no administrative services attached, or alternatively, administrative services from an insurer without insurance coverage. Years ago, insureds ...

Termination of a plan. Under federal tax law, a plan can only be terminated for reasons of business necessity. Otherwise, prior employer tax deductible contributions under the plan are ...

Single insurance policy for only one kind of property at only one location of an insured. For example, property insurance on a rare piano in the insured's home would cover only that piano, ...

Popular Insurance Questions