Superyacht insurance

Bespoke insurance programmes for owners of large luxury yachts

Howden Sturge specialises in large, privately-owned super and mega yachts with values between €5m and €500m. Currently we arrange insurance for over €9bn worth of superyachts, including a significant number of the Top 100 list. 

In view of the size and quality of our portfolio we are able to arrange advantageous rates, structures and coverage mechanisms from our favoured international markets.

We work for yacht owners, captains, managers and home offices directly or through local brokers who wish to access our preferential relationships with specialist superyacht MGAs, and the Lloyd’s of London, European and US markets. 

Our client advisory team is second to none in terms of knowledge and experience

We enjoy close working relationships with many of the top firms in the yachting industry and we only work with first class underwriters and insurers who can provide our clients with the security they require.

Financial strength is integral to the insurer selection process; and we feel it is crucial to monitor both the financial health and capacity of the insurers that we use, and continue to do this on an ongoing basis.

Sturge

The true test of a broker is how they act during a claim

Our five-strong, dedicated yacht claims team is one of the largest and most experienced in the yacht insurance industry. 

The team handles, on average, more 800 claims per year, managing the process from first notification, to negotiations and expediting settlements.

Claims can occur for many reasons but understandably, the vast majority are crew related. From experience, we have learned that a happy captain and crew make for a happy boat, which is one of the main reasons for the size of our team. Anything we can do to maintain the on-board atmosphere, we go above and beyond to help.

Based on our excellent insurer relationships, and combined with the knowledge, experience and ability within our team, we are extremely confident that the Howden Sturge approach secures the best possible results for our clients. 

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Our history

Sturge Taylor & Associates Ltd joined the Howden Group in March 2021, and re-named as Howden Sturge.

Started in Antibes in the early 1970s by Nick Sturge, nephew of the then Chairman of Lloyds of London, we are one of the oldest established insurance brokers in this class of business.

Today, we have one of the largest professional teams in the market, based in four locations: London, Southampton, Antibes and Palma.

Our 30-strong team is dedicated to providing the very best superyacht insurance products available in today’s market place.

Insurance programmes for fully crewed superyachts

A comprehensive superyacht insurance programme often involves a blend of the following:

Hull and machinery coverage

If it forms part of the yacht then it can usually be included. Generally, this coverage will be on a comprehensive “All Risks” and “Agreed Value” basis. 

We can arrange cover for hull, materials, contents, engines, machinery and everything connected therewith including: 

  • Tenders, water craft and water sports equipment
  • Interior fixtures, fittings and contents including artwork, antiques and objet d’art
  • Personal effects of the owner, guests and crew
  • Loss of charter hire.

Liabilities (protection and indemnity)

We can also provide covered for a wide range of third party liabilities: 

  • Damage caused to other yachts
  • Crew negligence
  • Liability arising out of the use of tenders and the
  • yacht’s water craft
  • Water sports liabilities – injuries to guests,
  • damage to docks and harbours
  • Pollution liability
  • The assured’s legal liability to employed crew
  • including MLC requirements
  • F D & D legal expenses cover for disputes.

Crew Welfare 

We provide 24/7 and 365 days cover for full-time, part-time and seasonal crew. 
Protect your people ashore or afloat, on or off duty, signed-on or on vacation. 

Our exclusive Crew Welfare offering includes cover for:

  • Medical expenses, doctors or hospital fees for accidents or illness
  • Lump-sum payments for accidental death or permanent disability
  • Salary indemnity for temporary disablement, worldwide repatriation, crew replacement expenses
  • Trauma counselling
  • 24 hour emergency assistance, MLC Compliant.

Pre-delivery risks

We regularly arrange policies to cover the assured’s liability to paid crew that are on site, plus their medical expenses and personal accident insurances. 

Owner supplied items and furnished equipment including tenders etc., in store or present at the shipyard can also be insured and protected.

Builders’ risks, refit and restoration 

We are able to arrange customised insurance programmes for yachts that are in build or under major refit/alteration, where a conventional yacht insurance policy is not appropriate. 

We also regularly policies for classic or vintage yachts that are being restored or rebuilt. Howden Sturge has been involved with many projects that have seen new life breathed into famous yachts of the past.

We are also able to provide: 

  • Professional indemnity for the yachting industry
  • Cargo insurance, for yachts or other goods as cargo
  • Insurance for submarines and submersibles
  • Aviation insurance 
  • Cancellation or Curtailment insurance
  • Mortgagees’ interest cover

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What to do if you are experiencing financial difficulties

We recognise that the current economic conditions are putting pressure on many households and businesses. At Howden, we are committed to finding ways to assist our customers who may require additional support during these times.

If you’re currently facing financial difficulty, please speak to us about your insurance policies by:-

-contacting your Howden Service Team; 
-calling Howden on 020 7623 3806;
-using the Enquiry form.

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