[Y001]
Yacht
A larger vessel used for pleasure purposes, as distinguished from a motorboat, sailboat or commercial vessel.
[Y002]
Yacht insurance
A marine insurance designed to provide property damage or hull coverage for yachts, cabin cruisers, and sailing vessels. Some will also cover small inboard motors and other personal vessels.
[Y004]
Year
Also known as the model year in auto insurance. For the most part, the year the auto was produced. Car model years usually run from October to October.
[Y005]
Yearly (annual) renewable term insurance
A term life insurance policy that the insured can renew for a specific number of years without proving insurability. Each year the premium on the policy rises.
(See also annual renewable term.)
[Y003]
York Antwerp Rules
Revised in 1974, a set of rules adopted by the representatives of all the leading maritime nations to govern the method of applying the general average.
