Should you get travel insurance for a yacht charter?

Yes — yacht-charter travel insurance is worth the cost for any booking over $20,000. The MYBA contract makes the deposit and balance non-refundable inside the cancellation window (90 days for the deposit, 60 days for the full payment). One named storm, one positive COVID test, or one family emergency in that window costs the full charter without insurance. Cancellation-and-interruption coverage from Travelex, AIG Travel Guard, or Allianz typically runs 5–7% of the trip cost and covers illness, injury, hurricane, named perils, and visa denial. Add Cancel for Any Reason (CFAR) for an extra 1–2% — it covers the broadest set of cancellations including buyer’s remorse. Vital’s brokers can flag the recommended policies.