With today’s shifting yacht values, it’s a good time for yacht owners to re-evaluate their insurance coverage. A good place to start is by making sure you’re insured by the right company. The company should have a solid history in the yacht insurance business and have a strong financial track record. The next thing to consider is whether the amount of insurance carried reflects the current market value of the yacht. When a yacht is underinsured, it will be difficult to replace when market values begin to rise. Yacht owners who want to increase the insured value of their yacht should consult with the insurance carrier and be prepared to switch carriers if necessary.