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Private Client Group – Yacht

AIG understands what yacht ownership means, whether you are cruising worldwide or sailing close to home. Our Private Client Group is well-versed in the intricacies of protecting yachts – regardless of size. We’ll manage your risk while you enjoy the serenity of the water.

All risk coverage

At AIG, our yacht policy provides broad coverage for virtually all types of marine risks, with no automatic deduction for depreciation on the value of your yacht. You can be assured of the same high quality coverage for yachts of any size, from small boats to “super yachts”.

Agreed and new for old coverage

All of our policies are written on an Agreed Value basis with no deduction taken from claims settlements for depreciation as standard. This ensures certainty, support and peace of mind for our customers in the event of a loss.

Offshore flagged vessels

For offshore flagged vessels, we can offer coverage tailored to your specialised needs, such as:

• Employers’ liability
• Longshoremen’s and Harbour Workers Compensation Act coverage
• Crew members medical and emergency travel, rescue

Help when you need it

With our global reach and worldwide network, Private Client Group will ensure that you and your yacht receive the utmost attention and expert care – anywhere in the world.

Private Client Group provides tailored and all-inclusive insurance coverage including:

  • Property damage – including your yacht, machinery, tenders, fine
    art, personal effects, electronics, furnishings, and more.
  • Protection and indemnity – including coverage for third party property damage and bodily injury, defence costs, wreck removal, and more.
  • Marine environmental damage – cover for losses, including as a result of pollution, following physical damage to marine habitat through grounding, anchoring or other contact by your yacht.
  • Defence costs – paid in addition to the protection and indemnity limit, so our customers don’t need to worry that large legal bills will erode the sum available to pay for liability.
  • Medical payments – cover for certain medical costs for which our customers choose to reimburse their guests that cannot be recovered by other health coverage.
  • Uninsured boaters coverage – coverage for insured persons for personal injury damages due from a third party, but cannot be recovered.

Private Client Group is a unique offer designed specifically to meet the needs of high net worth individuals, providing asset protection services and products including:

  • Home Buildings and Contents
  • Personal Liability Insurance
  • Private Collections
  • Yacht Insurance