Yacht Insurance in Cyprus
Your marina requires it. Greek law demands it. Protect your vessel and enjoy the water without worry.
Yacht insurance is not compulsory under Cyprus national law, but most marinas require third-party liability (TPL) as a condition of berthing. Planning to sail to Greece? TPL is compulsory for vessels over 7 metres and all speedboats under Greek Law 4926/2022.
Why DigiCare
Why boat owners choose DigiCare
Compare & Save
We're an independent broker. We compare marine rates from multiple licensed insurers so you're not stuck with one company's price. Most clients save 10-20% after we shop around.
Fast Cover
Need proof of insurance for your marina? We can get your policy documents to your inbox within 24 hours.
Bundle Discounts
Already insure your home or car with us? Add yacht insurance and qualify for a multi-policy discount on the combined premium.
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We speak English, Russian, and Greek. Every document, every call, in whichever language works for you.
How much does yacht insurance cost in Cyprus?
People ask me this all the time, and the honest answer depends on what you're insuring. A small outboard motorboat is a very different risk from a 15-metre sailing yacht. Here are real figures based on what we place for clients in Limassol, Larnaca, and Paphos.
| Vessel Type | Estimated Annual Premium |
|---|---|
| Small motorboat (up to 25 hp) | From €25 |
| Motorboat (up to 100 hp) | From €59 |
| Motorboat (up to 200 hp) | From €68 |
| Cabin cruiser / speedboat (€40,000 value) | €400-1,200 |
| Yacht (€100,000 value) | €1,000-3,000 |
| Yacht (€500,000 value) | €5,000-15,000 |
Your exact rate comes down to six things: the vessel's insured value, its age and condition, hull type, where you keep it, your navigation area, and your experience as a skipper. Older vessels and extended cruising ranges push premiums up. Staying within Cyprus waters keeps them down.
Premiums shown are indicative figures based on Cyprus broker market data and international benchmarks of 1-3% hull value. Actual rates depend on your insurer, vessel profile, and risk assessment.
What does yacht insurance cover?
A proper yacht insurance policy follows the London Institute Yacht Clauses. Coverage can range from basic TPL to full comprehensive. Here's what a good policy should include.
Hull and machinery damage (collision, grounding, fire, storm)
Third-party liability for bodily injury and property damage
Pollution and environmental liability
Salvage and wreck removal costs
Legal defence costs
Personal effects and equipment on board
Transit risks (when your vessel is being transported overland)
Crew liability (if you employ crew)
Greek TPL minimum limits for pleasure craft (Law 4926/2022)
| Coverage Type | Minimum Limit |
|---|---|
| Bodily injury per person | €150,000 |
| Bodily injury per incident | €700,000 |
| Property damage per incident | €150,000 |
| Marine pollution per incident | €150,000 |
These are the legal minimums for Greek waters. I always recommend higher limits, especially for vessels over 12 metres. A single serious incident can easily exceed these thresholds.
Sailing to Greece
Planning to sail to Greece? You need TPL insurance.
This catches a lot of Cyprus boat owners off guard. Under Greek Law 4926/2022, third-party liability insurance is compulsory for all vessels over 7 metres and for ALL speedboats, regardless of size. This applies to foreign-flagged vessels too, including yours from Cyprus.
Greek Law 4926/2022 makes TPL compulsory for vessels over 7m and all speedboats
Fine for non-compliance: €150 plus restrictions on your sailing permit
Port authorities check insurance documents during routine inspections
Your Cyprus TPL policy must meet the minimum Greek limits to be valid
HOW IT WORKS
How to get yacht insurance in Cyprus
Tell us about your vessel
Share your boat's type, length, engine power, value, mooring location, and your sailing experience through our online form.
We find your best rate
We compare quotes from our panel of marine insurers and send you the best options side by side.
Get your documents
Pick your policy and receive your insurance certificate and full policy by email. Show it to your marina and you're set.
Who needs yacht insurance in Cyprus?
If you own a boat and keep it in Cyprus waters, you should have insurance. While it's not a national legal requirement, the practical reality is that you can't berth at most marinas without it.
Marina berth holders
Limassol Marina, Larnaca Marina, and Paphos harbour all require proof of TPL insurance as a condition of your mooring agreement. No policy, no berth.
Sailors heading to Greece
Greek law makes TPL compulsory. If you sail to Rhodes, Kos, or the Greek islands for the summer, you need a compliant policy before you leave.
Charter companies
Operating a charter business means you need both hull insurance and higher TPL limits. We also arrange crew liability if you employ skippers or deckhands.
New boat purchasers
Just bought a vessel? Most marine finance agreements require comprehensive hull insurance. We can have your cover in place before the boat leaves the yard.
Seasonal visitors
Bringing your boat to Cyprus for the winter? Short-term policies and laid-up cover are available for vessels that aren't in active use year-round.
Third-party only vs comprehensive yacht insurance
The choice comes down to how much risk you want to carry yourself. Third-party only covers damage you cause to others. Comprehensive covers that plus damage to your own vessel. Here's how they stack up.
| Feature | Third-Party Only | Comprehensive |
|---|---|---|
| Damage to other vessels | Covered | Covered |
| Injury to third parties | Covered | Covered |
| Pollution liability | Covered | Covered |
| Damage to your own vessel | Not covered | Covered |
| Theft of vessel | Not covered | Covered |
| Personal effects on board | Not covered | Covered |
| Salvage and wreck removal | Not covered | Covered |
| Typical annual cost | €25-150 | 1-3% of hull value |
| Best for | Small boats, tight budgets | Valuable vessels, active sailors |
Combine your yacht policy with home or car insurance and you can qualify for a multi-policy discount. We set this up for clients regularly.
Get a Combined QuoteFAQ
Frequently asked questions
Protect your yacht before the next voyage
Your vessel is one of your biggest assets. One storm, one collision, one uninsured incident in Greek waters, and you're facing costs that could run into the tens of thousands. It takes 5 minutes to sort out.