Last Updated: December 2025 | Researched by the Sailing In Style editorial team
Reviewed by marine insurance professionals
Everything you need to know about insuring your multihull, from premium calculations to claims, with real costs and trusted brokers.
Quick Answer: What Does Catamaran Insurance Cost?
On a $500,000 cruising catamaran, that translates to roughly $7,500 to $15,000 annually. Mediterranean cruising sits at the low end, while Caribbean or Pacific coverage during storm seasons pushes rates higher.
The wide range reflects your cruising grounds, vessel age and condition, sailing resume, and whether you plan offshore passages or charter operations. This guide walks through every variable so you can estimate costs before committing to a purchase.
Why Catamarans Cost More to Insure Than Monohulls
The insurance industry has largely moved past its early skepticism of multihulls. Claims data now shows modern cruising catamarans to be at least as safe as monohulls in most conditions.
Premiums remain higher for practical reasons:
- Higher replacement costs. Comparable catamarans cost 40–60% more than monohulls.
- Wide beam exposure. Docking damage and windage claims are more common.
- Specialized repairs. Fewer yards can haul and service cats.
- Redundant systems. Twin engines and systems increase claim severity.
While powered catamarans have several advantages—efficient hull form, stability at rest and an increased deck size for any given length—they are prone to capsize... The advantages of a catamaran's sleek demihulls make it efficient in a straight line and stable at rest, but equally disadvantage the vessel's hydrodynamic stability.
Eight Factors That Determine Your Premium
Insurance underwriters assess risk through a standardized set of criteria. Understanding these factors helps you anticipate costs and identify opportunities to reduce your rate.
1. Vessel Value
The insured value of your catamaran is the primary driver of premium cost. Most policies are written on an agreed value basis, meaning you and the insurer settle on a figure at the start of the policy. In a total loss, you receive that amount without depreciation.
For new boats, this is straightforward. Used boats require a marine survey to establish fair market value. Overinsuring costs you extra premium; underinsuring leaves you exposed if you need to replace the boat.
2. Cruising Grounds
Where you sail matters enormously. The Mediterranean is the cheapest region to insure, typically 1% of hull value. California and the Pacific Islands run about 1.5%. The Caribbean and areas south of the Florida-Georgia border during hurricane season are the most expensive, often exceeding 2.5% or requiring named storm exclusions.
If you plan to move between regions, your policy must cover all intended cruising grounds. Adding the Caribbean to a Mediterranean policy can double your premium.
3. Hurricane Zone Exposure
The official Atlantic hurricane season runs June 1 through November 30. Insurers define the hurricane box as waters south of approximately 35 degrees north latitude, including the Bahamas, the entire Caribbean, and the Gulf of Mexico.
Remaining in the hurricane box during season dramatically increases your premium. Most cruisers either sail north of the box (Chesapeake Bay, New England, Bermuda) or haul out at an approved facility with a named storm plan. Your policy will specify approved haul-out locations and required preparations.
4. Age and Condition
Newer catamarans in good condition attract lower rates. Underwriters typically require a survey for boats over five years old and may require annual surveys for boats over 15 or 20 years. Survey findings that identify deferred maintenance can result in coverage restrictions until repairs are completed.
Boats with recent refits, new engines, or updated electrical systems may qualify for rate reductions. Document all upgrades and provide receipts to your broker.
5. Your Sailing Resume
Experience reduces risk in the eyes of underwriters. A resume that includes offshore passages, recognized certifications (ASA, RYA, US Sailing), and years of ownership history can lower your premium by 10% to 20%. First-time catamaran owners may face higher rates until they build a track record.
If you are transitioning from monohulls, emphasize any multihull charter experience. Some brokers recommend completing a catamaran-specific training course before applying for coverage.
6. Claims History
A clean claims record is your most valuable asset. A single total loss or multiple partial claims in recent years can make you difficult to insure at any price. Underwriters typically review five years of claims history.
Small claims under your deductible are often better handled out of pocket to preserve your record. Discuss this strategy with your broker before filing marginal claims.
7. Ocean Crossings
Transoceanic passages require additional coverage, typically structured as a one-time crossing endorsement. Atlantic crossings generally cost $500 to $1,500 extra. Pacific crossings run higher, often $1,000 to $3,000, depending on route and season.
Underwriters require a minimum crew of three with documented offshore experience for bluewater crossings. You will need to submit a passage plan and crew resumes for approval.
8. Charter Use
If you charter your catamaran, whether through a management company or private arrangements, you need commercial coverage. Charter policies run higher than private use policies but often benefit from fleet discounts negotiated by charter companies.
Owner-operated charter with paying guests requires specific liability coverage. Bareboat charter where charterers become temporary owners has different requirements. Clarify your intended use with your broker to ensure proper coverage.
Insurance Costs by Catamaran Model
The following table shows estimated annual insurance costs for popular cruising catamarans based on current market values and typical rate ranges. Actual premiums vary based on the factors discussed above.
Rates shown assume private use, Mediterranean or U.S. East Coast cruising outside hurricane season, and an experienced owner with a clean claims record.
| Catamaran Model | Length | Market Value | Low (1.5%) | High (3%) |
|---|---|---|---|---|
| Bali Catsmart | 38 ft | $355,000 | $5,325 | $10,650 |
| Seawind 1160 | 38 ft | $420,000 | $6,300 | $12,600 |
| Lagoon 40 | 40 ft | $485,000 | $7,275 | $14,550 |
| Fountaine Pajot Isla 40 | 40 ft | $525,000 | $7,875 | $15,750 |
| Lagoon 42 | 42 ft | $569,000 | $8,535 | $17,070 |
| Aventura 37 | 37 ft | $610,000 | $9,150 | $18,300 |
| Nautitech 40 Open | 40 ft | $650,000 | $9,750 | $19,500 |
| Leopard 45 | 45 ft | $720,000 | $10,800 | $21,600 |
| Fountaine Pajot Elba 45 | 45 ft | $780,000 | $11,700 | $23,400 |
| Lagoon 46 | 46 ft | $850,000 | $12,750 | $25,500 |
| Catana 53 | 53 ft | $1,200,000 | $18,000 | $36,000 |
| Lagoon 55 | 55 ft | $1,450,000 | $21,750 | $43,500 |
| HH55 | 55 ft | $2,800,000 | $42,000 | $84,000 |
| Lagoon 60 | 60 ft | $2,100,000 | $31,500 | $63,000 |
| Fountaine Pajot Alegria 67 | 67 ft | $3,200,000 | $48,000 | $96,000 |
Regional Rate Breakdown
Insurance rates vary significantly by cruising region. The following breakdown reflects current market conditions based on conversations with multiple brokers and owner experiences.
Mediterranean: 1.0% to 1.5%
The Med offers the lowest insurance rates in the world for cruising catamarans. No hurricane exposure, excellent marina infrastructure, and a mature market of marine insurers competing for business keep premiums low. Malta, Gibraltar, and France are popular registration and insurance bases.
U.S. East Coast (North of Georgia): 1.0% to 1.5%
The Chesapeake Bay, New England, and Mid-Atlantic offer favorable rates outside hurricane season. Many owners keep boats in this region from November through June and either haul out or relocate south during summer.
Pacific Northwest and Alaska: 1.5% to 2.0%
Remote cruising grounds with limited repair facilities push rates slightly higher. Weather windows and cold water add operational complexity that underwriters consider.
California and Hawaii: 1.5% to 2.0%
California coastal cruising falls in the moderate range. Hawaii adds distance from repair facilities and occasional Pacific storm exposure.
Caribbean (Hurricane Season): 2.5% to 3.5%
The most expensive region during June through November. Named storm deductibles of 2% to 5% of hull value are standard. Many insurers require haul-out at an approved facility with a written hurricane plan.
Caribbean (Outside Hurricane Season): 1.5% to 2.0%
December through May rates drop significantly. Many cruisers plan their Caribbean seasons around insurance windows.
South Pacific: 2.0% to 3.0%
French Polynesia, Fiji, Tonga, and the broader Pacific attract higher rates due to distance from major repair centers and cyclone exposure. Some underwriters exclude certain island groups entirely.
Real World Insurance Examples
These examples from cruising sailors illustrate how insurance costs play out in practice.
Case 1: Atlantic Cruising Couple
Amy and David of Out Chasing Stars documented their insurance experience on a Helia 44 catamaran valued at approximately $650,000. Departing from France, they initially paid Pantaenius $4,800 annually for Atlantic-only coverage. When they planned to transit to the Pacific, Pantaenius quoted $14,000 for worldwide coverage. They switched to Jackline and paid $8,400 for Pacific coverage, a savings of $5,600.
Their experience demonstrates the value of shopping multiple brokers, especially when cruising plans change.
Case 2: Caribbean Charter Cat
A Lagoon 42 operating in the BVI charter market under a fleet policy paid approximately $14,250 annually (2.5% of $570,000 value). The owner received credit for the management company's fleet safety record and approved haul-out procedures during hurricane season.
Case 3: Mediterranean Liveaboard
A retired couple living aboard a Fountaine Pajot Elba 45 based in Malta paid $7,800 annually (1.0% of $780,000 value). Their rate reflected year-round Mediterranean cruising with no hurricane exposure, extensive sailing experience, and a clean claims history.
Marine Insurance Providers for Catamarans
The marine insurance market has consolidated significantly in recent years. According to industry sources, the number of A-rated insurers covering U.S. and Caribbean cruising has dropped from four to two since 2018, reducing competition and pushing rates higher.[6] Working with an experienced broker who maintains relationships with multiple underwriters is essential.
Specialist Brokers
Offshore Risk Management has specialized in cruising yacht insurance since 1972. Bill Coates and his team process thousands of applications annually and maintain relationships with underwriters worldwide. They report a 95% success rate in generating quotes for boats that apply through their system. Contact: 305-743-7711 or offshorerisk.com
Jack Martin & Associates (an Alera Group company) is a marine-only insurance agency with roots going back to 1929, and they routinely place coverage for catamarans, offshore cruisers, and high-value yachts with worldwide navigation needs. Contact: (410) 626-1000 or jackmartin.aleragroup.com
Jackline has built a strong reputation among cruising sailors for competitive Pacific and worldwide coverage. Several circumnavigators have documented positive experiences with their claims service. They often quote lower than legacy European insurers for non-European cruising grounds.
Major Underwriters
Pantaenius, based in Germany with offices in the UK and U.S., is one of the largest yacht insurers in Europe. They offer comprehensive coverage but have become less competitive for Pacific and worldwide policies in recent years.
United Marine Underwriters offers agreed value policies with automatic pollution spill coverage and all-risk physical damage protection. They have a straightforward online quote system for U.S.-based boats.
Gowrie Group and Markel provide coverage for U.S. coastal cruising and have established claims procedures. They may be less familiar with extended offshore and international cruising.
12 Ways to Lower Your Catamaran Insurance Premium
- Choose your cruising grounds strategically. The Mediterranean and U.S. East Coast outside hurricane season offer the lowest rates. Plan your cruising schedule around insurance windows.
- Increase your deductible. Moving from a $2,500 to a $5,000 or $10,000 deductible can reduce premiums by 10% to 15%. Self-insure small claims to protect your record.
- Complete recognized sailing courses. ASA, RYA, or US Sailing certifications demonstrate competence and can reduce rates. Catamaran-specific courses carry extra weight.
- Document your experience. Maintain a detailed sailing resume including miles logged, passages completed, and years of ownership. Submit this with every application.
- Keep your boat in survey. A current survey with no outstanding recommendations signals a well-maintained vessel. Address all surveyor findings promptly.
- Install safety equipment. EPIRB, liferaft, AIS, radar, and modern fire suppression systems can qualify for discounts. Some insurers offer credits for specific equipment lists.
- Avoid hurricane zones during season. Sailing north of the box or hauling out at an approved facility eliminates the most expensive coverage component.
- Shop multiple brokers. Rates can vary by 30% or more between underwriters for the same boat. Get at least three quotes before binding coverage.
- Consider a named storm deductible. Accepting a higher deductible for hurricane damage can significantly reduce your base premium if you haul out during season anyway.
- Maintain a clean claims record. Pay small claims out of pocket. One or two claims in five years can double your premium at renewal.
- Join a yacht club or cruising association. Some insurers offer group discounts through recognized organizations like Seven Seas Cruising Association or Ocean Cruising Club.
- Bundle with other policies. If your broker offers home or auto insurance, bundling may qualify for a multi-policy discount.
What to Do When You Need to File a Claim
Filing a marine insurance claim differs from auto or homeowner claims. Understanding the process in advance can speed resolution and maximize your recovery.
Immediate Steps After an Incident
- Document everything. Take photos and video of all damage before any repairs begin. Record the date, time, location, weather conditions, and circumstances of the incident.
- Notify your insurer immediately. Most policies require prompt notification, typically within 24 to 72 hours. Call your broker's emergency line rather than waiting for business hours.
- Prevent further damage. Take reasonable steps to minimize additional loss. Temporary repairs are covered. Keep all receipts.
- Do not authorize permanent repairs without approval. The insurer will assign a surveyor or adjuster to assess the damage. Wait for their authorization before proceeding with major work.
- Get multiple repair estimates. The adjuster may require competing bids from approved boatyards. Keep copies of all correspondence and estimates.
Common Claim Scenarios
Grounding: If you go aground, the insurer will typically pay for a tow, haulout inspection, and any resulting damage. Soft groundings with no damage may not be worth filing if they fall under your deductible.
Collision: Your policy covers damage to your boat. Liability coverage handles damage you cause to other vessels or property. Exchange information with all parties involved and file a written report.
Storm damage: Named storm claims often carry higher deductibles. Document pre-storm preparations and all damage. Marina damage claims may involve multiple insurers if other boats were involved.
Theft: File a police report immediately. Maintain an inventory of equipment with serial numbers and photos. Theft claims require proof of loss.
Total loss: If your catamaran is declared a constructive total loss, you receive the agreed value minus any deductible. The insurer takes ownership of the wreck or salvage.
2025–2026 Market Outlook
The marine insurance market has tightened considerably since 2020. Several factors are driving higher rates and reduced coverage options:
- Increased hurricane frequency and severity. Major hurricanes in the Atlantic have increased from an average of 1.6 per year in the 1970s–1980s to 3–4 per year today.[7] Insurers are repricing risk accordingly.
- Rising repair costs. Supply chain disruptions, inflation, and labor shortages have pushed boatyard rates up 20% to 40% since 2020.[8] Modern cats with advanced electronics and lithium systems cost more to repair than ever.
- Market consolidation. Several underwriters have exited the U.S. and Caribbean market due to poor claims experience. Less competition means less price pressure.
- Higher boat values. The COVID-era boat boom pushed catamaran prices up 30% to 50%. Higher insured values mean higher premiums even if rates stay flat.
Expect premiums to remain elevated through 2026. The best strategy is to work with an experienced broker, maintain a pristine record, and build flexibility into your cruising plans to take advantage of lower-rate regions.
Frequently Asked Questions
Is catamaran insurance legally required?
In most jurisdictions, boat insurance is not legally required for private use. However, marinas typically require proof of liability coverage before allowing you to dock. If you finance your catamaran purchase, your lender will require comprehensive coverage as a condition of the loan.
What is the difference between agreed value and actual cash value policies?
Agreed value policies pay a predetermined amount in case of total loss, regardless of depreciation. You and the insurer agree on the value when the policy is written. Actual cash value policies deduct depreciation at the time of loss, resulting in lower payouts for older boats. Most cruising catamaran owners prefer agreed value coverage.
Can I insure a catamaran I keep outside the United States?
Yes, several insurers specialize in international coverage. You may need to work with a broker who has relationships with European underwriters like Pantaenius or specialist international markets. The flag state registration of your vessel can also affect coverage options.
How often do I need a marine survey for insurance?
New boats typically do not require a survey for insurance purposes. Used boats usually need a survey at the time of purchase. Ongoing survey requirements vary by insurer and boat age. Expect to survey every five years for boats under 15 years old and every two to three years for older vessels.
What happens if I want to charter my catamaran occasionally?
Private use policies do not cover commercial charter operations. If you want to take paying guests, even occasionally, you need charter coverage or a commercial policy endorsement. Discuss your plans honestly with your broker to ensure proper coverage.
Are crew members covered under my policy?
Standard yacht policies include crew coverage for medical expenses resulting from accidents aboard. If you employ paid crew, you may need additional coverage including crew liability and workers compensation depending on your flag state and cruising grounds.
What is a named storm deductible?
A named storm deductible is a separate, higher deductible that applies to damage caused by hurricanes or tropical storms that receive official names. Typical named storm deductibles range from 2% to 5% of hull value. On a $500,000 catamaran, a 3% named storm deductible means you pay the first $15,000 of hurricane damage.
Why is catamaran insurance more expensive than monohull insurance?
Catamarans cost 40–60% more to insure than comparable monohulls due to higher replacement costs, wider beam requiring specialized haulout facilities, twin engine systems that double repair claims, and fewer yards worldwide capable of servicing large multihulls.
Can I cancel my policy mid-year if I sell the boat?
Most policies allow cancellation with prorated refund of unused premium. Some insurers charge a short-rate penalty for early cancellation. Review your policy terms or ask your broker about cancellation provisions before binding coverage.
Final Thoughts
Catamaran insurance is a significant annual expense that deserves careful attention. The difference between a well-structured policy from a knowledgeable broker and a basic policy from a generalist can mean tens of thousands of dollars in premium costs over the life of your ownership.
Start the insurance conversation early in your boat search. Get quotes based on the specific models you are considering before making a final purchase decision. Factor insurance costs into your annual cruising budget alongside moorage, maintenance, and provisions.
Most importantly, work with a broker who specializes in cruising catamarans and understands your intended use. The right broker will help you structure coverage that protects your investment without paying for coverage you do not need.
Fair winds and following seas.
Sources
- BoatUS Marine Insurance Claims Report, "63,000+ Boats Damaged by Harvey and Irma," November 2017
- Lloyd's of London, "After the Storms: Market Insight Report," 2018
- Insurance Information Institute, "Facts + Statistics: Hurricanes," January 2025
- Aon Reinsurance Solutions, Hurricane Ian Loss Estimates, 2023
- Insurance Journal, "Record-Breaking Hurricane Season Ends," December 2024
- Marsh McLennan Agency, "2025 Yacht Risk & Resiliency Report"
- Statista / NOAA, "Number of Major Hurricanes Over Atlantic Rises," 2024
- Allianz Global Corporate & Specialty, "Shipping Safety Report: Claims Trends," 2023
- Matthews, N., Joiner, K.F., & Smith, W.F. "Stability Assessment of a Catamaran Using Sea Trials," Journal of Marine Science and Engineering, Vol. 12, Issue 8, August 2024. doi.org/10.3390/jmse12081436
About This Guide
This guide was researched and written by the Sailing In Style editorial team, citing peer-reviewed research from the Journal of Marine Science and Engineering and data from industry sources including Lloyd's of London, BoatUS, and the Insurance Information Institute. We update this page regularly to reflect current market conditions.
We are not insurance brokers and do not receive compensation for recommending specific providers. The information here is for educational purposes. Always consult with a licensed marine insurance professional before making coverage decisions.
Have a question we did not cover? Contact us at hello@sailinginstyle.com and we will add it to our FAQ section.