Yacht insurance is a luxury policy that provides protection and services at any time for the vessel and the valuables associated with the yacht. Much like car insurance, when an owner buys a yacht, third-party liability protection is mandatory.
The size of a yacht can range from about 10 meters up to 50 meters in length. Most yachts sizes fall in the middle. Any vessel over 50 meters is known as a -Superyachts. Owners can use yachts for either racing, travelling, charters or pleasure.
The protection is a must for such vessels in Hong Kong due to typhoons, the number of boats in the sea and unpredictable situations an owner may face. In addition, the insurance will repair or replace your yacht and also provide emergency towing.
Red Asia Insurance can also help tailor the insurance to insure boats and provide similar coverage.