The coverage that is not available when adding a boat or personal watercraft to a homeowners policy is what can be offered along with competitive rates, broad acceptance, and specialized coverage for boat and personal watercraft (PWC) owners.

These policies may include:

• Consequential sinking, explosion, fire, or collision caused by wear, latent defect, or mechanical breakdown.

• Subject to local customs, as long as the boat is winterized according to manufacturer’s specifications, frost damage to the boat and engine(s).

• No charges for improvement or depreciation. Example, a six year old bimini top breaks during a wind storm; it will be replaced with a new one instead of paying a small percentage of its original value.

Policy features:

Agreed Value: Available on any vessel eligible for physical damage coverage. In the event of a total loss, this country bases the rating regardless of actual cash value. Optional for full coverage policies. Protects against depreciation.

Total Loss Replacement – ​​Available on newly purchased boats up to one year old. In case of total loss, replace the insured boat with a new boat. For boats older than five model years. They pay the purchase price. Protects against depreciation and inflation.

Boating: Coverage applies to all inland waterways and all bodies of water within 75 miles of the US and Canada; 125 = mileage limit endorsement.

Environmental damage: coverage for disposal of debris and fuel spills included in all policies.

Roadside Coverage – Covers breakdowns while the boat is in tow, even if the towing vehicle is not insured by the insurance company.

Water sports activities, water skiing, wakeboarding, included with civil liability and medical payment coverage.

Replacement costs for items on board -Offers primary coverage for personal effects and fishing equipment.

Emergency On-Water Towing – Provides reimbursement for labor and on-water towing costs when the vessel becomes disabled on the water.

Propulsion Plus – Provides coverage for the lower unit of an outboard motor and the upper and lower units of a stern drive, in the event of mechanical failure, including those caused by wear and tear.

Vanishing Deductibles: Deductibles are reduced by 25 percent for each claim-free policy period. After four claim-free policy periods, the deductible is zero.

Small Claims Forgiveness: Premium does not increase if a customer has one or more claims that require payment of $500.00 or less.

Did you know that in the United States one in eight vehicle-owning households owns a boat?

The median for PWC owners is 41 and for boat owners it is 45 to 49.

The median income for PWC owners is $95,000.00 and for boat owners it is $50,000 to $75,000.

Used boat purchases make up 70 percent of new boat policies.