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A.
BoatU.S. rates are low because the Association's large Membership Group
of safety conscious boaters has better than average claims experience.
Your price will depend on your boat's location, use, size, type, age,
power type and other factors relating to the boat. For a free price quote,
complete
the application in this site or call 1-800-283-2883 to speak with
an underwriter. A.
Fast, fair, and simply. When policyholders call BoatU.S. to report a claim,
they reach a "real live" BoatU.S. insurance specialist 24 hours
a day, 7 days a week, 365 days a year. Once contacted, the claims specialist
will give the boat owner specific instructions on the steps to take from
that point forward. Q. How can I save money on my boat insurance? A.
Choose a boat insurance policy that best fits your boating needs. BoatU.S.
Marine Insurance offers three different insurance programs. The BoatU.S.
Total Protection Yacht Policy provides broad coverage and has unique boaters-only
features such as Lifetime Repair Guarantee and Investigative Services
at competitive rates. For boats 26 feet and under, lower rates are available
through the BoatU.S. Boat Saver Policy. The Boat Saver Policy offers basic,
no-frills coverage at significant savings. The BoatU.S. Personal Watercraft
Policy offers low rates and broad coverage in a policy designed specially
for PWC. The PWC program even has special discounts for safe drivers.
In addition to these savings, everytime you pay with your BoatU.S. Credit
Card you are eligible to earn a 3% Credit Rebate. Other factors that influence price are: Where you cruise and when. It costs more to insure a boat in coastal waters than inland lakes and rivers, especially in areas exposed to hurricanes, and more still if you use your boat year-round. Boating safety education. You'll receive a discount from BoatU.S. Marine Insurance if you complete a safety course that's been approved by the National Association of State Boating Law Administrators. Good driving records. Because BoatU.S. believes that if you are responsible behind the wheel of your automobile, you will also be responsible at the helm of your boat, premium discounts are applied for clean driving records. Liability limits. The higher the protection, the higher the cost. The size of your deductible. The higher your deductible the lower your premium. Keeping your boat
out of harm's way. If your boat is maintained in a particularly secure
location - secure from extraordinary weather patterns such as hurricanes,
tornados, floods, etc. and/or secure from theft or vandalism - be sure
to point this out to your underwriter. Catastrophic loss from weather
or thieves is a significant cost factor in boat insurance. Q. Is "PRICE" the most important factor to consider when purchasing boat insurance? A.
No. Unlike auto or home insurance where most companies offer the exact
same coverage, boat insurance varies between companies. While the amount
you pay for insurance has to be a factor in the selection of your protection
package it is more important to consider the types of losses covered,
how much you will collect in the event of a loss, what assistance is available
in an emergency, and what level of service you will receive. The boat
owner should select a carrier, agent, and policy that meets their specific
needs. In most cases this means not selecting a policy based on the price,
but on what you get in return because even large differences in premium
will be made up quickly if you select an inadequate policy, an unknowledgeable
agent or an indifferent carrier. Q. How does your insurance program help me in the event of an emergency, such as a sinking, grounding or accidental fuel spill? A.
Call the BoatU.S. 24-Hour Emergency Dispatch Hotline. Our Dispatcher will
give you immediate assistance in making the necessary arrangements to
protect your property, such as dispatching salvage operators or sending
out pollution control professionals. When there has been significant damage
or injury, local surveyors and investigators will be assigned. In catastrophe
situations (hurricanes, major flood, etc.) the BoatU.S. "CAT"
TEAM is flown into the area to expedite salvage, boat repairs and claims
processing. Q. Where do you provide insurance coverage? A.
Coverage is available anywhere in the United States with seasonal cruising
extensions available to Canada, the Bahamas, Bermuda, and Mexico. Premium
discounts are available for selecting restricted cruising areas such as
the Chesapeake Bay or Puget Sound. Let us know where you will be using
your boat and we will match you to an appropriate area at the best rate
available. Q. Is towing coverage provided by the BoatU.S. Policy? A.
The BoatU.S. Yacht Policy provides coverage for salvage, fuel spill containment
& clean up, wreck removal and emergency towing necessary to protect
the boat from further damage in the event of a covered loss. Non-emergency
tows for such things as running out of gas, having a dead battery, or
soft grounding are included in the BoatU.S. Membership Towing Service,
not the boat insurance policy. This way, non-emergency tows are kept off
of your boat insurance claims record. Q. Are there discounts for successfully completing safe boating classes? A.
Yes. The BoatU.S. Program awards premium discounts for successful completion
of any safe boating courses approved by the National Association of State
Boating Law Administrators (NASBLA). These include courses by the Coast
Guard Auxiliary, Power Squadron, Red Cross, the online course administered
by the BoatU.S. Foundation for Boating Safety and others. Q. What company will the insurance be written through? A.
The BoatU.S. yacht insurance program is underwritten by a pool of CNA
member companies, all of which carry a Best rating of A-. CNA is one of
the world's premier insurance organizations ranking among the top ten
U.S. insurance groups. During its 100 year history, CNA has built a reputation
for leadership in insurance and risk management, financial strength and
commitment to customers and business partners. CNA is a registered service
mark, trade name and domain name of CNA Financial Corporation. The BoatU.S.
Personal Watercraft program is insured through CNA or Seaworthy Insurance
Company, depending on your state of residence. (CA license #0340636) Q. What type of losses does your policy cover? A.
The BoatU.S. policy is an "All Risk" policy which covers all
external causes of loss except those specifically excluded. Coverage includes
losses caused by hurricane, theft, flood, fire, sinking, collision, etc.
For All Risk, Agreed Hull Value Policies (Yacht Policy and Bass Boat Program),
we will pay you the Agreed Hull Value in the event of a total loss. Repairs
for Partial Loss are covered on a "new for old" basis. For more
information on what is covered for total and partial losses, For more information, click here.
For Actual Cash Value Policies (PWC and Boat Saver), all property losses
are depreciated. If you wish to see a copy of the policy before you join
the group, ask your BoatU.S. insurance specialist to send a sample with
your quote. Q. What is included in the hull and machinery part of the policy? A.
The BoatU.S. Yacht, Boat Saver & PWC policies provide coverage for
the hull and machinery --engines, outboards, generators, etc., equipment
and accessories used in the normal navigation, safety and maintenance
of the boat, as well as any furnishings built into the boat. Q. What does the Protection and Indemnity (P&I) section of the policy include? A.
The liability section of the policy is called Protection and Indemnity
(P&I). This section provides for defense if you are sued by a third
party and it pays the judgement up to the policy limits should you be
legally responsible for injury or damage to a third party. This section
of the BoatU.S. policy also includes important features such as liability
coverage for operating a friend's boat, and coverage for removal and disposal
of a wrecked boat. Q. Am I required by law to have insurance on my boat? A.
No. To the best of our knowledge there are no state or federal laws that
require a boat owner to have insurance on a boat. However, if you have
a loan using the boat as collateral the bank will require insurance coverage
listing them as a loss payee to cover their interest in your boat. Also,
most marinas will require that you maintain boat insurance in order to
keep your boat at their facility. Q. What is the minimum amount of insurance protection I should buy? A.
BoatU.S. strongly recommends that all boat owners carry a minimum of $50,000
in liability (P&I) insurance. Most boaters should carry $100,000 or
$300,000 in liability coverage and consider "umbrella" liability
policies for larger amounts of protection. Liability coverage will provide
a legal defense in the event someone brings a lawsuit against you claiming
you caused them injury or damaged their property. This could be a guest
on your boat, a marina, another boat, swimmers, divers, etc. This coverage
would also pay judgments if you were found legally liable, thus protecting
your savings, future wages and other assets. Q. Is BoatU.S. Membership required to get a quotation? A.
No. You don't need to be a member of BoatU.S. to get a quotation. However,
this is a group program based on the BoatU.S. group loss experience so
should you decide to accept the quotation you will need to join BoatU.S.
to take advantage of this benefit of Membership. This can be arranged
at the same time you initiate your insurance coverage. The $19 annual
Membership dues are reduced to $14.00 per year when you join online or
through the marine insurance program. Your Membership also includes $50
per incident towing service as well as over 35 additional benefits and
services. Q. How do I start coverage if I like your quote? A.
Simply call our office at 1-800-283-2883 and tell us when to start coverage.
Payment can then be made by credit card or check. You can also start coverage
by mail by following the directions on the Quote Reply Form on the back
of your Quotation. Q. Is there an extended payment plan? A.Yes.
The extended payment plan requires a downpayment of only 30%. The balance
is billed in four (4) equal monthly installments. Each installment includes
a $3.00 handling charge. A.
Of course. If you need a quote call BoatU.S. at 1-800-283-2883 between
8:00 a.m. and 9:00 p.m. Eastern Time, Monday through Friday or 9:00 a.m.
to 5:00 p.m. Eastern Time on Saturday. You can also use the application
in the Marine Insurance section of this site. We will provide you with
a firm quotation, not a ballpark figure. Q. How long has BoatU.S. been in the boat insurance business? A.
BoatU.S. has specialized in boat insurance for over three decades. Q. How many people work on boat insurance at BoatU.S.? A.
Over 200 BoatU.S. staff members specialize in boat insurance, claims,
underwriting, emergency dispatch, customer service, accounts, policy issuance,
licensing, records management and more, to provide Members with fast,
professional service.
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