Elite Yacht Program® Terms and Coverages

Significantly Increased Coverage

ACE provides among the highest levels of insurance coverage available to protect you and your onboard guests, as well as your vessel and other assets.  The policy coverages included in the Elite Yacht Program are commensurate with the considerable value you’ve invested in your yacht, therefore we’ve included increased protection for many major coverages.  Please page down to view detailed coverage descriptions.

Exceptional yachts require specialized insurance protections and the Elite Yacht Program includes many valuable benefits and features including:

Waived Deductibles

In the event of a covered loss, your hull deductible will be waived if the adjusted claim amount exceeds your hull deductible.  Additionally, we will not apply a deductible if your yacht is deemed a total loss or for losses to navigation or communication equipment, tenders and personal watercraft.

Legal Defense Protection

Any payments you may receive for the cost of your legal defense, related to ownership or use of the insured vessel, will be in addition to your liability limit.  This is especially noteworthy as most other policies simply combine any defense costs into a single liability limit, whereas our policy in effect provides an additional level of protection. 

Worldwide Navigational Limits

ACE will work with you in customizing your Navigational Limits based upon the capabilities of you, your vessel and crew, and your desire to see the world from your favorite vantage point – your yacht.

Rental Reimbursement

In the unfortunate event your vessel is out of commission due to serious damage, sustained in a covered loss, you may be eligible to receive up to $150,000 per policy period, for the charter of a similar vessel. 

Non-Owned Vessel Coverage

The Elite Yacht Program protects you while operating other vessels, whether a surrogate yacht or any other you’re permitted to operate.

Loss of Charter Income

If your vessel is rendered unusable due to a covered loss, you may be eligible for the reimbursement of the lost charter income up to $100,000 per policy period under your Elite policy. 

Excess Pollution Liability Coverage

If your vessel is over 300 gross tons, this coverage is excess over the Water Quality Insurance Syndicate coverage.

Marine Environmental Damage

Damage to coral reefs and other marine environmental damage is covered, along with up to $50,000 in governmental fines and penalties.

Fine Arts Coverage

Up to $100,000 in Fine Arts aboard the vessel is covered under your Elite policy. 

Physical Loss or Damage

Provides coverage for accidental, direct physical loss or damage from an external cause, as well as salvage charges, with few exclusions.  Coverage applies to the yacht itself and includes sails, machinery and other equipment normally required for the operation and maintenance of the yacht.  Hull coverage is “agreed value” on total losses and replacement cost (with no depreciation) on most partial losses, and may be subject to a deductible.  (See “Waived Deductibles” above.)

Liability

Covers the insured’s liability for property damage, bodily injury or death or another person resulting from the ownership or use of the insured yacht.  Also covered are legal defense costs, the cost of wreck removal when required by law, and the owner’s liability to any paid crew, including Jones Act coverage.  Pollution and contamination coverage is also provided up to the Liability limit or $800,000, whichever is greater.  We also offer, subject to a separate sub-limit, liability coverage for Personal Watercraft and Tenders.

Medical Payments

This coverage pays for reasonable medical expenses, for you and your guests, that result from injuries sustained by the yacht owner, guest or family members while on, boarding or leaving the covered yacht.  The coverage limit applies on a “per person” basis.

Uninsured Boaters

Uninsured Boater benefits cover damages resulting from bodily injuries received aboard an insured yacht that its owner is legally entitled to recover from an uninsured owner or operator of another vessel.  A coverage amount equal to the Liability limit is included subject to a maximum limit of $2,000,000.

Captain and Crew Coverage

Your liability protection is extended to cover your captain and crew members for third party liability, and any temporary crew are automatically covered when they join those in your regular employ.  The Elite Yacht Program provides your crew with repatriation and wage continuance, as well as coverage for their personal property onboard.

Federal Longshoremen’s and Harbor Workers’ Compensation

The Elite Yacht Program also provides coverage (when Liability coverage is purchased) for any liability the insured yacht’s owner incurs under the jurisdiction of the Federal Longshoremen’s and Harbor Workers’ Compensation Act, during the term of the policy.

Personal Property Coverage

Personal property belonging to the yacht owner and his/her family and guests, is covered up to a limit customized for each circumstance, with no per-item limit. 

Towing and Assistance

Reimbursement for emergency commercial towing service, up to $100,000, with no deductible.

These bonus advantages make our plan even more impressive:

·    Physical Damage for motorcycles, mopeds or motorbikes while aboard your yacht.

·    ACE provides “Blue Cards” for Mediterranean cruising – required as proof of insurance in Italy, Spain and Greece – free of charge.

* The information, material and descriptions contained herein are intended to be a summary in nature and only provide a general overview of the types of coverage and concerns boaters should consider when selecting insurance for their boat or yacht.  Any description(s) of insurance coverage herein shall not amend, modify, replace alter or otherwise change the terms, conditions, limits, provisions, exclusions or endorsements contained in any policy issued by us.  Please consult your policy for precise terms, limits, exclusions or endorsements contained in any policy issues by us.  Please consult your policy for precise terms, limits, exclusions and conditions.  The description(s) and material(s) contained herein shall not provide a basis for a legal relationship between us and any potential or existing customer and gives no cause to anyone for claims, demands, assertions or other rights towards us, either on a contractual or non-contractual basis.  All rights reserved.

The availability of the Elite Yacht Program may vary by state.

What would you like to do next?

·    Go back to Yacht Insurance Services.

For Customers:

·    Locate an ACE Recreational Marine Insurance Agent.

For Agents & Brokers:

·    Download and print an Elite Yacht Application.

·    Contact a Field Office – office directory.