Travel and cancellation insurance is always a good idea as it will cover the portion you will NOT receive back!
We work with Squaremouth (opens in a new browser) and can help make sure you are covered.
There are many reasons why you or someone in your party may not be able to make the trip or have to leave early. Not only are you ensuring for your vacation but also for getting to and from there. Basic insurance starts at about 3.5% of your total vacation cost. Rates can rise to 6 to 8 % for full coverage deals and Cancel For Any Reason (CFAR) can go up further than that.
I believe the recent pandemic has shown many that CFAR is a good thing to have.
During the three months of high hurricane season in the Caribbean. (August through October) Some vessels may require you to take insurance; otherwise, it’s up to you. If you are the person who always gets to the airport 3 hours early, then it will help your peace of mind to take insurance.
Another utterly different insurance is insurance on the yacht. If you are taking any option except bareboat (where you Captain the boat yourself), then you do not need coverage for the vessel. If you are bareboating, then you may be required to have accident insurance.