Luxury yacht charters come with a variety of associated costs. Cancellation insurance is generally necessary when booking a charter, as it covers any non-refundable costs that may occur if the trip must be canceled due to illness or bad weather. It is also recommended to purchase travel insurance or ‘cruising’ insurance, which will cover medical evacuation fees and other expenses related to physical injury while onboard a vessel. Instructional captains are also available for hire, particularly if you are inexperienced in sailing and would like someone knowledgeable on board. Lastly, some companies may charge wire transfer fees when booking a charter, so check the payment options available.