Hull insurance
Insurance on the yacht as a physical asset. Standard premium for a well-maintained 40 to 50 metre yacht is 0.7 to 1.5 percent of insured value per year.
Hull insurance covers physical loss or damage to the yacht and its machinery. Premium is set by insured value, age, claims history, captain track record, navigation limits, and operational profile (private versus charter). Underwriting is typically through Pantaenius, AON Marine, Gallagher Specialty, or Lloyd's specialist syndicates. Builder's risk insurance covers the yacht during refit, with the buyer's interest noted, and should cover transit between subcontractor sites.