INSUBUY® Insurance Blog

Posted: 02/16/20244,963 Views

When you think of the type of people who charter super yachts on vacation, it’s likely celebrities and professional athletes who come to mind. But what if we told you that a holiday on your own super yacht isn’t just the realm of the ultra-rich and famous? In fact, it may be in your budget. Want to see how? Let’s dive in.

A Reality Check on Yacht Prices

Let’s be honest. Nothing about chartering a luxury yacht is going to be “cheap.” However, when you total up the cost of spending a week at an all-inclusive resort, the price of chartering a super yacht isn’t so different, especially if you have friends and family coming along. 

How Much Does it Cost to Charter a Super Yacht?

The exact cost of a yacht vacation depends a lot on the particular vessel, the location, and the time of year. For instance, if you want to charter a 300-foot luxury vessel with a full crew during prime vacation season in the Caribbean, it can easily cost in excess of $150,000 per week. 

But if you’re willing to travel in the offseason or weigh anchor from a less popular port, the cost can come down considerably. 

For instance, yacht charter companies in places like Croatia can offer weeklong cruises with all meals and drinks included for as little as $4,800 per person. Similar prices can be found in Thailand, Greece, and the Bahamas

Obviously, the more people you can get to come along, the lower the per-person price. So, if there was ever a time to plan a family reunion, a corporate getaway, or a destination wedding, a chartered yacht cruise could be it. 

If the idea of finding 20 or 30 people to buy into your yacht vacation seems a little far-fetched, there are other options. Consider a cabin charter. You won’t have private access to the whole ship, but it’s far less crowded than a cruise, and prices can be as low as $1,200 per week for each passenger. Popular cabin charter yacht cruises go to some dream destinations, as well. Imagine kicking back on the sun deck of your yacht, sipping a cocktail, and watching the coast of Bali, Mauritius, or the British Virgin Islands slowly come into view. It’s the stuff that dreams are made of, and you can make it a reality. All you have to do is a little online searching to discover a yacht charter that fits your budget.

Yacht Cruise Insurance

It should go without saying that absolutely any yacht charter trip should be protected by a comprehensive travel insurance plan. You’re going to have to shell out a lot of nonrefundable money to charter a yacht or a cabin aboard one. If you were to get sick or injured prior to the trip and were forced to stay home, you’d still be stuck paying for the cruise. The trip cancellation coverage component of travel insurance plans can protect you from this by allowing you to get reimbursed for your prepaid, nonrefundable expenses if you have to cancel your trip for a covered reason.

In addition, most travel insurance plans offer emergency medical coverage, which is critical if you get sick or hurt abroad, plus coverage for things like flight delays, lost luggage, and even trip interruption if an emergency pops up at home.

When planning your dream vacation, it only makes sense to protect your investment. Shop travel insurance plans for your yacht charter before you set sail and avoid any rough financial seas. 

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