Watercraft Quoting
All carriers are A.M. Best rated A or higher. Not all business will qualify and may not be available in all states. The Underwriting and Coverage options below are a general summary. Coverage may vary depending on the state and risk. Please contact your Account Executive for details specific to your risk.
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Excess Personal Watercraft
Product Advantages
- Follow Form Coverage
- Can be used as a buffer layer or as a standalone policy
Eligibility Criteria
- Watercraft up to 50 feet in length
- Watercraft with speeds up to 50mph
- Unlimited youthful operators
- Inboards, Outboards, In/Out Drives, Sail Boats, Jet Skis are all eligible
- Can be high profile-entertainer, professional sports figure, or politician
Eligible Risks – Includes all of the above characteristics except where amended below
- Corporate ownership of watercraft is eligible providing use is solely for private recreational use of the owner/partner of the corporation
- Risks with up to five accidents
- Operators with up to five violations or a major violation
- Operators with a single Drug or Alcohol related offense
- Watercraft up to 75 feet in length
Ineligible Risks
- Risks in the states of Louisiana, Alaska or West Virginia
- Watercraft that are more than 75ft in length
- Watercraft used in races, speed contests or other forms of competition
- Watercraft used for business or used to transport people or property for a fee
- Watercraft that is chartered
- Amphibious craft, Airboats, Hydrofoils, Hydroplanes, Iceboats, Kit boats or any Homemade Vessels
- Watercraft that travel in excess of 50mph
Minimum Attachment
- Our minimum point of attachment is 100,000/300,000/25,000 for Jet Skis and 100,000/300,000/50,000 for all other boats up to 26ft
- For Boat Lengths of 26ft to 50ft the minimum point of attachment is 250,000/500,000/100,000 or $300,000 combined single limit (CSL)
- Boat Lengths 50ft to 75ft the minimum point of attachment is 1,000,000 CSL
Available Limits
- Excess limits up to $5,000,000 are considered upon submission
Submission Requirements
- Our Excess Personal Liability Application
- Motor vehicle records will be required for all operators
Small Boatsman Personal Watercraft
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If you do not have a login for this product, please contact Jackie Plank (jplank@nrsinsurance.com) Ext. 6111.
Product Advantages
- Personally owned or corporately titled
- Fishing equipment coverage
- Water sport liability included for most boats
- $500 Emergency towing coverage included
- $1000 Personal effects coverage included
- Boat lift coverage (optional)
- Diminishing deductible for most boats up to 65 MPH (no deductible after four claim free years- decreases by 25% after each loss free year)
- Pollution liability included with separate $500,000 limit
- No limit on vessel age for hull coverage
- Replacement cost, agreed value, and ACV settlement options
- Uninsured boater coverage included equal to watercraft liability, up to $500K
- No lay up restrictions
- Med Pay coverage
Eligibility Criteria
- Small boats up to 26’11” in length & maximum speed up to 100 MPH
- No restriction on boat type or value
- Available in every county NATIONWIDE excluding Broward & Dade
- Any age on vessel hull for full coverage
- Inboard, inboard/outboard (stern drive), outboard, air/propeller, sail, jet, and manual
- Up to 2 engines
- Boat types: Runabout, fishing, cruiser, pontoon/triton, sail, houseboat, inflatable, PWC, manual, hovercraft, airboat, high performance vee, high performance catamaran, homemade/kit and mini (sport)
- Material type: Fiberglass, metal/aluminum, wood, composite, inflatable, poly & other
Ineligible Risks
- Over 26’11” and speeds exceeding 100 MPH
- Located in Broward & Dade Counties
- Held for sale
- Used commercially
- Hull has fiberglass over wood
- More than 2 main engines
- Turbine engine
- With an exposed engine compartment and/or over the transom exhaust
- Horsepower exceeds manufacturer’s maximum capacity
- More than 3 owners
- Operator less than 25 years old on a watercraft with speed equal to or greater than 66 MPH
- Owner or primary operator under the age of 18
- Excess motor vehicle violations and/or marine losses
Available Limits
- No limit
Submission Requirements
- Applications vary
For questions regarding a submission, contact Morgan Domingue at mdomingue@nrsinsurance.com Ext. 6282.
Yachts, Sailboats, Catamarans
Windstorm:
The hurricane-exposed program offers coverage for many types of vessel in hurricane and windstorm-exposed areas.
Program Features
- Vessels up to $2,000,000 USD in value
- Motor Yachts, Trailercraft, Sailboats and Catamarans
- Go faster boats up to 90mph
- Liability limits up to $10,000,000 USD
- Medical Payments, Personal Effects, Tender and Trailer coverage available
- Specialist Fleet Underwriters
Non-Windstorm:
Program Features
- Vessels up to $2,000,000 USD in value.
- Motor Yachts, Trailercraft, Sailboats and Catamarans.
- Go faster boats up to 90mph.
- Liability limits up to $10,000,000 USD.
- Medical Payments, Personal Effects Coverage, Tender Coverage and Trailer Coverage available.
- Heavily discounted rates for vessels laid up during the year.
- Discounts for insureds that are able to demonstrate that their vessel is suitably winterised.
- Discounted rates for vessels located on inland waterways that are not exposed to saline waters.
Excess Liability:
Program Features
The maximum limit available is $10,000,000 USD and $1,000,000 USD limits above carrier’s in-house limits:
- $2,000,000
- $3,000,000
- $4,000,000
- $5,000,000
- $6,000,000
- $7,000,000
- $8,000,000
- $9,000,000
- Excess liability facility is not available on fast boats and may not be available in the event that excess liability underwriters fail to approve an application due to adverse risk features.
- A supplemental application may be required depending on risk type and coverage selected. Please contact your assigned Account Executive for more information.