If you submit a claim for damage to your yacht, your yacht insurance adjuster will determine if it is a total or partial loss claim.
Note: When your boat or yacht insurance policy coverage includes liability, sometimes called protection and indemnity, that’s what covers you if you injure or kill another person (the third party) or their property while operating your boat.
The hull coverage includes the physical components of the boat. It is helpful when there is damage to your boat, its hull, any contents, the engine, or other machinery.
If your yacht insurance policy offers “all-risk” coverage, then it doesn’t matter if the loss is due to a storm, fire, theft, vandalism, collision or other accident. Pay attention to any specific exclusions, for instance, if coverage continues while you store the vessel, transport it by land, or travel outside your region.