Yes, insurance is essential for yacht rentals in Miami. Most reputable yacht rental companies will have their own insurance that covers the boat, crew, and potential liabilities. However, as a renter, it’s crucial to verify the extent of the company’s coverage and understand any potential gaps. Additionally, many rental companies offer or require renters to purchase additional coverage or a damage waiver, limiting the renter’s financial responsibility in case of damage to the yacht or loss of equipment. Always ensure you’re adequately protected before setting sail.