Yacht Insurance Spain

Spain's Mediterranean and Atlantic coastlines, the Balearic Islands, the Canary Islands and the Costa Verde offer some of the finest sailing and yachting waters in Europe. Whether you keep a sailing yacht in a marina on the Costa del Sol, cruise the Balearics in summer, or cross the Atlantic from the Canaries, specialist yacht insurance is essential — and very different from the boat insurance needed for smaller motor vessels.

Is Yacht Insurance Required by Law in Spain?

Yes. Under Spanish maritime law, all recreational vessels must carry third-party civil liability insurance. The minimum required limit depends on vessel length: vessels under 6 metres require at least €150,253 of third-party liability; vessels 6–12 metres require €300,506; vessels over 12 metres require €480,810. These are absolute minimums — most marinas require significantly higher limits as a condition of berthing.

What Does Yacht Insurance Cover?

Hull and Machinery

The structural hull, mast, rigging, sails, engine and all onboard mechanical systems. Covers accidental damage, collision, grounding, fire and storm damage. Agreed value or market value settlements are available — agreed value is preferred for yachts where custom equipment, sails and electronics may exceed any standard market valuation.

Third-Party Liability

Covers damage or injury your yacht causes to other vessels, persons or property. Marina collisions, anchor damage and crew injury are among the most common claims. Limits from €600,000 to €3 million+ are available.

Racing Cover

If you race your yacht — club racing, offshore racing or regatta participation — standard cruising cover does not apply during racing. Racing cover is an essential extension for racing sailors.

Personal Effects and Navigation Equipment

Charts, GPS, VHF, radar, autopilot and personal items aboard can be covered up to specified limits. Electronics and navigation equipment are high-value and frequently targeted by thieves in marinas.

Crew Liability and Personal Accident

Covers your legal liability as yacht owner to crew members injured aboard. If you sail with non-professional crew (friends, family), they are exposed to maritime risks that are not covered by standard travel or health insurance.

Extended Cruising Areas

Standard policies cover defined geographic areas. If you plan to cruise to the Canaries, cross to the Caribbean, or sail in northern European waters, your policy must reflect this with appropriate cruising area extensions.

How Much Does Yacht Insurance Cost in Spain?

Yacht insurance is typically priced as a percentage of the vessel's agreed value — usually 0.8%–1.5% per year for cruising cover in Mediterranean waters. A yacht valued at €60,000 therefore typically costs €480–€900/year for comprehensive cruising cover. Racing premiums are higher due to the increased risk.

Types of Yacht We Cover

• Sailing yachts (monohull and multihull/catamaran) of all sizes
• Motor sailers and classic wooden yachts
• Racing yachts and offshore racers
• Superyachts (over 24 metres — specialist underwriting)
• Bareboat charter vessels

See also: Boat Insurance Spain | Jet Ski Insurance Spain