Rest insured

You would be forgiven for thinking that yacht insurance premiums are plummeting after 18 months of stifled sailing activity. But don’t hold your breath. Not all agree, but broker after broker tells me that the industry is still facing catch-up after years of aggressively low premiums, and warns of further ‘corrections’ ahead. For the customer, however, all is not lost and there are ways of finding savings.

Generally, rising premiums have been the story of the last few years. Some $215bn of damage inflicted by three hurricanes in 2017 cost the insurance industry around $140bn in cover, and it has been on the back foot ever since. Add to that years of undervaluing risk in order to win prestigious superyacht business, and it all adds up to a nasty mix. The specific insurance risk posed by British cruising yachts may not have increased, but the declining