Final answer:
A yacht policy is a specialized insurance policy that provides coverage for both the property (hull) and liability associated with owning and operating a yacht.
Step-by-step explanation:
No, the statement is false. A yacht policy is a specialized insurance policy designed to cover a yacht or boat. It provides coverage for both the property (hull) and liability (in case the yacht causes damage to others or their property) associated with owning and operating a yacht. Unlike an inland marine form, which covers property in transit, a yacht policy is specifically tailored to the unique risks and exposures associated with yacht ownership.