Getting Coverage for Your Floating Home

In terms of how a yacht becomes an important part of your lifestyle and the cost of a yacht both in terms of purchase and maintenance, in many ways your yacht almost becomes like a floating home.  Unlike a fishing boat or a boat used for commercial purposes, most of us buy a yacht to spend some significant time on and we equip that boat so it can be a home away from home for however long you habitat on that vessel.

When you look around your yacht, it's really an amazing design feat.  It is at the same time a boat with all the pleasantries that make living there a joy and the resources to host guests and even hold parties.  So while you certainly can afford both the purchase and maintenance of a yacht, getting insurance to make sure any damage can be covered is smart. 

Unlike a home, a yacht is by nature in a more hazardous environment.  Because your yacht is also a vehicle and it spends most of its time on the water, there are things that can happen to it that must be considered in your insurance policy.  So make sure your policy covers every possible form of loss so you can get your yacht repaired or replaced if need be and to cover any harm that might be caused by an accident.

Obviously, you are going to include in the base policy the cost of the yacht and the basic equipment that came with it including the engine and other equipment necessary to operate the yacht as a sea going vessel.  Your basic insurance policy is going to cover damage to the vehicle from weather or from on board accidents.  But it should also be worded to cover the other ways that a yacht could be damaged or destroyed.

Explosions are a very real danger in the operation of a yacht.  Unlike your home, that vehicle is always carrying a large quantity of explosive fuels just under the feet of you and your guests.  If the yacht hits another vehicle or is hit by one or through equipment malfunction, that yacht can explode which can destroy that luxurious boat.  So make sure your policy has coverage for this kind of loss and that there are no exclusions because of the cause of the explosion as that may not always be possible to know.

Next take into account any expensive items that may be on the yacht that are not part of the yacht itself.  You may have any number of lifestyle amenities that would be expensive to replace such as the sound system, television or video equipment, furniture and supplies such as a fully stocked wet bar.  While these items are not difficult to replace, they do represent a cost that should be covered by yacht insurance.

Weather related damage should be represented in the yacht insurance if you use the vehicle on a body of water that can bring a catastrophic storm such as a hurricane or even tornados.  Now you might want to have your insurance agent help you calculate the statistical likelihood you would need such insurance.  But you sure will be glad you had it in the event that a destructive force of nature took a toll on this investment you have made in your yacht.

Think through any situation that might result in damage or destruction to your yacht or that could result in financial loss.  An accident with another boat could cause significant damage to the other vessel.  If it turns out the accident was the result of an error on the part of your pilot, you could face a large financial liability.  Similarly, if your yacht had a fire in dock or an explosion that caused damage to the dock or to other boats, you will be held responsible for that damage.  So just as you are covering the damage to your yacht, make sure monies are in the insurance policy to cover collateral damage as well.

You are not inexperienced in knowing the costs of owning a fine luxury such as a yacht.  You no doubt already have gotten insurance to cover theft and the basic threats to that vehicle.  But it's worth your while to go back and review that policy to make sure that it is comprehensive in nature.  You will be glad you did.

Chasing the Good Life Instead of Pirates

A little piece of trivia about yachting that is fun to bring out if you are enjoying an afternoon on a friend's yacht is that the word "yacht" is actually Dutch and it original spelling is "Jacht".  The translation of the original word is "hunt" because the yacht was created to give the Dutch navel vessels a tool to hunt down pirates in shallow water.  But these days we are far more interested in chasing the good life on board a luxury yacht than going after pirates.

It didn’t take long for yachting to become a lifestyle choice for those that could afford such luxury.  It is fascinating that yachting was enjoyed as far back as the early 1800s where there are references in history that King Charles II was a huge yachting enthusiast.  So we are in good company if we have come to love yachting too and its small wonder that it makes us feel like kings and queens when we are on board a luxury yacht cruising entirely for our pleasure.

Today when you think of the word "yacht", you almost always associate it with private boats kept for the pleasure of those who can afford a large seafaring ship dedicated to relaxation, romance and pleasure.  That image is wonderfully displayed in the delightful movie Some like it Hot with Marilyn Monroe and Tony Curtis in which Tony yells the sexy "Sugar" played by Marilyn that he is waiting for a signal from his wine steward on board his yacht for the time to return from the beach for cocktails.  Who of us doesn’t get a kick out of that kind of lifestyle and we jump at the chance to enjoy it even if it's just for a few weeks each year on holiday or vacation?

When you start to think about the kind of yacht you wish to buy or charter, you have a few decisions to make.  For one thing, you can buy a sailing or motorized yacht.  Sailing seems so natural and you don’t have to carry as much fuel (although a good sailing yacht will still have some ability to get to shore using a motor so you are never in danger of being stranded).   Also what a wonderful way to pass the morning watching the crew of your yacht put up and maneuver the sails to get you surfing the winds at sea and letting them take you along.

A yacht is almost always a large boat except perhaps if it is devoted to racing.  But for luxury and relaxation, having plenty of space on the yacht is important.  If you are going to buy a new yacht, you should walk the boat over many times and picture different ways you will entertain family and friends and be sure you have plenty of accommodations not only for the largest party you might take with you to sea but also for a good sized crew you will have along to care for the yacht itself as well as for you and your guests.  Your chef should have an ample kitchen with room for plenty of provisions if you want to stock the yacht for several days or weeks at sea.  And there should be the proper facilities to store fine wines and other beverages for your wine steward to work with during your voyage.

By making sure your yacht is well designed for the lifestyle you want during your outings, you will get lots of good use from it each year.  And if you are going to charter, you can look forward to bringing your same high standards to picking just the right yacht, captain and crew each time as well so your adventure at sea is just as enjoyable and luxurious as you always wanted it to be.

A Yacht Club That is Right for You

While there is no law that says you have to join a yacht club when you get a yacht, there are a number of good reasons to do so.  A yacht club gives you the chance to socialize with others who share your passion for yachting.  Unlike being with people who give you that "odd" stare when you talk about how great yachting is, your fellow yacht clubs members will nod knowingly because they too share the passion.   Yacht club members are often an outstanding peer group to be a part of who can also help you with questions about yachting, and what kinds of yachting outings you might enjoy.

Yacht clubs are tremendously social experiences and often the club will meet on board a different member's yacht each month so you can see how other member's yacht and enjoy some luxury at their expense as well.  Then when your turn comes to host the club on your club, you also have a chance to show off your yacht which is also great fun.

When you first buy your yacht then, you may wish to begin looking for a great yacht club that can give you the support group you want to enjoy your new passion with.  Going about finding the right kind of yacht club should be a process you are patient with because yacht clubs often have their own personalities.  But yacht clubs are almost always gracious settings so you can visit different clubs each week and feel welcome.  And its ok if you visit once or twice and move on to another club.  In fact, if you have a particular kind of yacht club that would fit your needs, sister clubs may point you in the right direction.

Like a lot of things, the internet can be a lot of help just finding the various yacht clubs in your area.  And when you start the search, you will often find that the better yacht clubs have web sites up with pictures, publications of their schedule of events and lots of information that will help you sort out which ones you want to visit.  Many yacht clubs have a specific focus around a particular kind of yachting so you can cut down a lot of phone calls by just finding out which ones fit your approach to the sport.  So if you are interested in yachting as a form of family entertainment, you may not want to join a yacht club devoted to yacht racing or fishing expeditions.

If you are just getting started in yachting, a yacht club can be of great help offering classes in sailing or other skills related to the sport.  So one way to get to know a club is to sign up for a short course on yacht management, sailing or yacht maintenance and not only will you learn important skills, you meet others in the club and find out if the club is right for you.  For the kids you may be able to find classes in scuba, water skiing or other water sports that they will want to know on your summer yachting adventure this year and the yacht club can help them get ready and make new friends as well.  Again  the classes are often listed on different yacht clubs web sites and you can sort out which clubs offer both educational and entertainment classes that would help you enjoy  your yachting adventure to the fullest.

Just as some yacht clubs are focused on niche interest groups in yachting such as yacht racers or those dealing in very high end luxury cruise, you will find yacht clubs that focus on why you want to enjoy yachting in the first place.  So you may be looking for a yacht club for singles because owning a yacht is part of your ongoing quest to meet new people and maybe new lovers.  Other yacht clubs may be oriented toward a family experience so not only will the events be family friendly, everyone in the family will meet peers in yachting families. 

Who knows, you may even find yourself making some lifelong friends in the yacht club, friends you may wish to join with on your next big yachting adventure.  And if that is the outcome of joining a yacht club, then that social scene will have been one of the best groups you ever joined.