I had the pleasure of discussing this issue with Al Golden at the Stuart Trawler Fest. From an Insurance newspaper clipping: "A Jackline policy will provide 'all risks' coverage on a 'replacement cost' basis up to an 'agreed value' and will provide claim service. Doublehanded cruisers in particular have reportedly faced difficulties in obtaining coverage in the past, but will now find a Jackline policy readily available. A Jackline policy can also provide coverage for personal liability and personal property to fill the gaps in coverage left when cruisers have no homeowners " Yes, the policy does cover the replacement cost of the vessel. Al's International Marine Insurance and Markel American Insurance Company devised this program just for double handed world cruising. The cost is comperable to many coastal policies--I do not know about specific exclusions and this could be a factor. (For instance we went into Central America and at that time no insurance companies would cover yachts going into high risk areas such as Central America If this type of policy had been available when I was voyaging, I would have had insurance, instead of going bare. (and buying heavier ground tackle, and a Sat Nav) Bob Austin