Transcript MARKEL HELMSMAN YACHT BOAT USE FEATURES AND BENEFITS Presented by: Mario Chiappetti CUSTOMIZEABLE COVERAGE TO SUIT YOUR CUSTOMER’S NEEDS There are 1000’s of Boat types.

MARKEL HELMSMAN YACHT
BOAT USE
FEATURES AND BENEFITS
Presented by: Mario Chiappetti
CUSTOMIZEABLE COVERAGE TO
SUIT YOUR CUSTOMER’S NEEDS
There are 1000’s of Boat types and 1000’s of Owners
all using their Boat differently.
We will explore standard and optional coverage
features that an owner may find desirable.
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Numerous Features
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SAMPLE BOAT USAGE
Sportfishing
Used primarily for fishing near shore and deep sea, they may enter a
tournament or travel distances.
Liveaboard
The boat is their primary residence.
Cruising
An owner that is taking an extended voyage or trip.
Recreational
This is a typical user, a weekend boater.
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SPORTFISH USE
Center Console
Sport Fish
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COVERAGE OPTIONS
FOR THE FISHING ENTHUSIAST
Fishing Equipment
Tournament Fee Reimbursement
Boat Lifts
Emergency Trip Expense Reimbursement
Excess Catch & Part Time Charter
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FISHING EQUIPMENT COVERAGE
Highlights:
 Primary
 Replacement Cost Settlement
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TOURNAMENT FEE
REIMBURSEMENT ENDORSEMENT
Highlights:
This is added coverage to provide for
your non-refundable Tournament Fees,
if you could not participate because;
 Bodily injury to you or a family member
 Loss or damage to the Insured yacht
 Mechanical breakdown of your towing
vehicle
We will reimburse up to $1000 per
occurrence and a $1000 maximum per policy
period
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BOAT LIFT
Overview:
Coverage for sudden accidental loss
to the boat lift on named perils basis.
ACV Settlement.
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EMERGENCY EXPENSE
REIMBURSEMENT ENDORSEMENT
Highlights:
 If there is loss covered under Physical
damage, then this will provide
lodging and transportation expense
assistance
 Must be more than 250 miles away
and the repair period must be longer
than 2 days
 We Pay 50% of expense up to $1000
per occurrence and max $2500 per
policy period
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SUBSIDIZE OPERATIONAL COSTS
EXCESS CATCH
 Possess Commercial Fishing License
 No Paid Captain or Crew
 Fish Caught by Rod & Reel or
Outrigger only, No Netting or Traps
 Must Keep a Catch Log for Review,
Include Dates, Catch info & Sell info
CAPTAIN CHARTER
 No More than 60 Days of Use
 6 Passenger Maximum
 Add by Policy Change Endorsement
 Licensed Captain Required
 21 Days of Charter Maximum
 Add by Policy Use Type and
Endorsement
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LIVEABOARD USE
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HOUSEBOATS
MOTOR YACHT
TRAWLER
SAILBOAT
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COVERAGE OPTIONS
FOR THE LIVABOARD USER
Liveaboard Enhancement Endorsement
Provides additional protection while onboard or away from the insured
yacht.
Emergency Trip Expense Reimbursement
Does your applicant travel away from their mooring or marina location?
(Discussed earlier)
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LIVEABOARD ENDORSEMENT
Highlights:
This endorsement provides benefit for
risk while aboard and off the insured
yacht…
 Personal Injury
 Personal Liability
 Personal Effects
 Medical Payments
 Additional Living Expense
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LIVEABOARD ENDORSEMENT
 Personal Injury: injury arising from false arrest, false detention, false imprisonment, malicious
prosecution, libel, slander, defamation of character, invasion of privacy, wrongful eviction or wrongful
entry.
 Personal Liability: coverage for bodily injury, property damage, or personal injury for which an
insured becomes legally liable because of an occurrence not arising through ownership, maintenance, or
use of the insured yacht, or non-owned yacht
 Personal Effects:
We will cover sudden accidental direct physical loss or damage to your
personal effects while on board, or other than on board anywhere in the world. We will also cover
Personal Effects for guests and unpaid crew while on board.
 Medical Payments: coverage is provided for necessary medical, nursing and funeral expenses
with in one year of loss to any person while aboard the yacht. It also covers for bodily injury caused by
the insured while not on the yacht whereas it meets the personal liability requirements.
 Additional Living Expense:
if a loss is covered under physical damage that makes the yacht
uninhabitable, we will pay for additional living expenses necessary to maintain the normal standard of
living. Our maximum payment is 10% of the hull coverage. Coverage begins after the 14th day after
loss.
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Extended Cruising
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COVERAGE OPTIONS
FOR CRUISING
Trip Endorsement
Provides navigational use for a defined limited destination and time
period.
Emergency Trip Expense Reimbursement
Does your applicant travel away from their mooring or marina location?
(Discussed earlier)
Emergency Tow and Assistance
We provide $750 of coverage at no cost, but you can sell up to $5000 of
coverage.
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TRIP ENDORSEMENT
Highlights:
• Provides extended navigation for a
limited time period or “trip”
• Do not need to add/delete/change
the policy conditions
• Takes “lay up” period into account
• Ability to mold conditions of trip by
listing requirements.
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NAVIGATION vs TRIPS
When is it best to add a
trip or just amend the
navigation?
 What is the destination?
 What is the distance, miles?
 How long is the trip, dates?
 When is it to occur, time of year?
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RECREATIONAL BOAT USE
CRUISER
PICNIC-RUNABOUT
PONTOON
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COVERAGE OPTIONS FOR
RECREATIONAL USE
Boat House
Boat Lift
Trip Endorsement
Emergency Trip Expense
Reimbursement
Trailer
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BOAT HOUSES
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NOT BOAT HOUSES
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THE BOAT HOUSE ENDORSEMENT
Highlights:
• Coverage up to $150k in value
• ACV settlement, the deductible is
greater of 2% or $250
• Named Perils
• Medical coverage included
However, this coverage is not available
in wind catastrophe zones: NC, SC, GA,
FL, AL, MS, LA or TX
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TRAILERS
 We will pay for the sudden and
accidental physical loss to the trailer
if used to transport the insured yacht.
 Coverage is ACV settlement
 Coverage does not exceed the Trailer
value listed on the Declaration Page
 Must be designed and intended for
the Insured Yacht
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ADDITIONAL COVERAGE FOR
SPECIAL USES
Limited Wreck Removal
For liability only policies
Transit & Storage
Used for boats in refit and/or storage
Boat Show Use Endorsement
If attending a boat show
Broad Loss Payee
For a Banks Interest
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WRECK REMOVAL ENDORSEMENT
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WRECK REMOVAL ENDORSEMENT
Highlights:
Under Protection and Indemnity
coverage is provided for a Liability Only
policy to add $7500 of Wreck removal.
It also provides the availability to add
$25,000 of Pollution coverage.
This endorsement satisfies a Marina’s
coverage requirement the applicant
may need to address.
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TRANSIT AND STORAGE
ENDORSEMENT
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TRANSIT AND STORAGE
ENDORSEMENT
Overview:
Intended for a boat in need of repair or
going through an extended
maintenance period.
The policy is amended by …
 Yacht may not be lifted or launched
 Navigation has been removed.
 No electrical feed while away
Also, the policy navigation is replaced
by limiting the yacht to while it is
ashore and with in the “Radius of
Transit” shown in the endorsement
schedule.
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BOAT SHOW
ADDITIONAL INSURED
ENDORSEMENT
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BOAT SHOW ENDORSEMENT
Highlights:
 Provides Boat Show Promoter
Additional Insured status.
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BROAD LOSS PAYEE ENDORSEMENT
Highlights:
 Providing the Loss Payee’s coverage
interest for a policy breach by the
insured.
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Questions?
Phone #: 1-800-236-2862
General Email: [email protected]