Yacht Insurance is an insurance product written to cover the owners of private pleasure vessels; from small runabouts to multimillion dollar sail or power yachts. The product is typically written as a package to include both Hull & Machineryand Liability (Protection & Indemnity). Examples of well known yacht standard wordings are the Institute Yacht Clauses, Clause 328 or the American Yacht Form R12. However, often now insurers have created their own bespoke wordings to include what is needed by today’s yacht owners. Wordings can be extended to include cover for machinery, extended cover for valuable fishing tackle, damage to the lower unit due to striking a submerged object, fine arts coverage, war/confiscation, even loss of wine due to wine storage facility breakdown. Coverage can be extended to cover toys, tenders, dinghies, personal watercraft and diving gear.