Yacht and Boat Insurance

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2 From ski boats to large luxury yachts and all those in between you ll want to be covered by the nation s oldest marine insurance provider. Marine Expertise and Dedicated Service ACE s experienced staff of marine insurance professionals, many of whom are boaters themselves, will help manage all aspects of your yacht and boat insurance and assist with the individual requirements you may have. And if you do suffer damage or a loss to your vessel, our dedicated marine claims specialists will be there to expedite the settlement process for you. Along with superior service and insurance protection, ACE s customers benefit also from our comprehensive loss control services. ACE is a leader in promoting maritime safety and our team of highly qualified marine surveyors, engineers and loss control experts are available to assist customers with marine surveys, technical questions and in some cases, onboard consultation. ace recreational marine insurance Protecting boaters and their vessels, whether they are 20 or 200 feet in length, requires sophisticated knowledge, experience and a degree of creativity. ACE Recreational Marine Insurance has all this and a more than 200-year history that began in 1792 when our predecessor company wrote the very first marine insurance policy in the United States. Since then, ACE has been a pioneer in offering marine coverages suited for all sizes and types of pleasure yachts and boats. Runabouts Ski Boats Personal Watercraft Cruisers Sport Fishing Vessels Sailboats Select Charter Boats Mega-Yachts High Performance Vessels We invite you to discuss ACE s outstanding coverage and service with one of our marine insurance specialist agents or brokers. ACE Recreational Marine Insurance is a member of the ACE Group, one of the world s largest property and casualty insurance organizations. The ACE Group of Companies provides a diversified range of insurance and reinsurance products and services through operations in nearly 50 countries around the world. ace recreational marine insurance ACE Recreational Marine Insurance, WA11F Philadelphia, PA Yacht and Boat Insurance We cover your boating lifestyle whether it s cruising, water skiing, entertaining or fishing contact a local ACE agent today for details. ACE Recreational Marine Insurance is the marine marketing and underwriting division of ACE USA, the U.S.-based retail operating division of the ACE Group. Insurance policies issued by ACE are underwritten by the insurance companies of ACE USA that are rated* A+ (Superior) by A.M. Best Company and A+ (Strong) by Standard & Poor s. *Company ratings as of October 1, This summary of available coverages is intended as general information and is not intended to amend, alter or modify the actual terms or conditions contained in any policy of insurance or its declarations. Exclusions and limitations may apply to some losses. Coverage may not be available in all states. Coverage is governed solely by the terms and conditions of the policy itself. Insurance buyers should consult their agent, broker or other insurance professional if they have questions about their insurance needs /2010

3 Policy Coverages Our policies have long been considered the standard by which others are measured, and our Yachtsman/Boatsman Policy provides the most comprehensive coverages along with unique benefits and features, including: Agreed Value Coverage We pay the entire agreed amount, with no deductible, for a total loss. Replacement Cost Loss Settlement Repair or replacement of covered property is paid for without deduction for depreciation for most partial losses. Liability Protection Limits of coverage to suit your personal needs, including: legal defense costs, pollution and contamination coverage, wreck removal and Jones Act coverage for paid crew. Medical Payments Reasonable medical and related expenses are included for all those onboard, or boarding or leaving the covered vessel. These benefits are provided on a per person basis, rather than per occurrence. Optional and customized limits are available. Uninsured Boater Coverage Pays for bodily injury to persons aboard the insured watercraft who are injured by an uninsured owner or operator of another vessel. Oil Pollution Act of 1990 (OPA Coverage) If you purchase Liability coverage, our policy provides coverage in addition to the Liability limit up to the required OPA statutory limits, regardless of the amount of the Liability limit chosen. If the OPA statutory limit is increased in the future, our policy will automatically increase the applicable OPA limit to match the new higher statutory limits. Marine Environmental Damage Coverage Protection is automatically provided up to $10,000 per occurrence, for fines and penalties for marine environmental damage, as defined by the policy terms. This coverage limit is in addition to the insured s applicable Liability and OPA limits. Federal LHWCA When Liability coverage is purchased, coverage is automatically provided for those employed aboard the vessel who are within the jurisdiction of the Federal Longshore and Harbor Workers Compensation Act. Whether you re interested in coverage for a large yacht or small runabout, or a policy to cover pleasure, corporate or occasional charter use, ACE can offer the protection you need. Personal Property & Fishing Equipment Coverage Protection is automatically included for the clothing, personal effects and fishing gear of the boat owner and guests. Optional higher limits are available. Search & Rescue / Emergency Services Coverage Expenses incurred by an insured in relation to a governmental unit such as the USCG that provide emergency aid and assistance, are included for no additional charge, up to a $10,000 limit. Towing & Assistance Our policy includes this coverage, with optional higher limits available. Tender/Dinghy Coverage We automatically include this protection, with optional limits and deductibles available. Trailer Coverage Optional protection is available with a low deductible. Boat Show & Demonstration Coverage We automatically provide this coverage, at no additional charge. Automatic Coverage for Marinas as Additional Insured Marinas, yacht clubs and similar facilities where insureds keep their vessels are included automatically as Additional Insureds. Hurricane Haul-Out Coverage Included automatically at no additional charge, clients residing in storm-prone areas are provided with coverage for haul-out and storage fees when necessary to protect an insured yacht during a named storm. Photo provided courtesy of Spencer Yachts Additional Advantages of being an ACE Customer To further satisfy your every marine insurance need, we also provide such advantages as: Among the Most Liberal Navigation Limits Convenient Electronic Payments by Credit Card or Direct Debit Premium Discounts for Qualifying Customers Access to Informational Website with Boat Safety and Maintenance Tips ACE Programs and Endorsements ACE has designed a variety of programs and endorsements to serve the precise insurance needs of yacht and boat owners. Yachtsman/Boatsman Policy Comprehensive, all-risk and agreed value protection for a wide range of yachts and boats. Partial Loss Actual Cash Value Endorsement to Yachtsman/Boatsman Policy An economical alternative that offers significant savings to those who want to protect their vessels fully with agreed value protection in the event of a total loss, but opt for an actual cash value (ACV) option for partial losses. Paragon Yacht SM Endorsement to Yachtsman/Boatsman Policy Designed exclusively for finer, high quality vessels valued between $1 million and $5 million, providing many additional benefits. Elite Yacht Program Superior coverage with unique benefits for larger luxury vessels valued at more than $5 million, including many deductible-free coverages. Personal Watercraft Policy Competitively priced coverages for a range of models. Performance Boat Policy Designed to cover higher speed vessels that exceed 55 mph. Charter Policy Six-Pac and other occasional charters may qualify for this coverage, and a more affordable Departure Charter Policy SM is also available that provides actual cash value benefits. Please contact one of our independent agents or brokers for more details, or visit to learn more.

4 Small Boat Insurance Programs Tailored coverage for vessels less than 27 in length The ACE Boatsman Policy and its many special endorsements are designed exclusively for all types of smaller pleasure boats, with the highest level of tailored protection offered at competitive rates. As one of the nation s leading marine insurance providers, the specialists at ACE Recreational Marine Insurance understand the need for customized service and coverages, and how best to provide the features needed to protect both boat owners and their vessels. Customized Coverages and Options At ACE, we know that each boat and boat owner is unique and we have the capability to customize policies with a multitude of optional coverages and policy types. In addition, the ACE Boatsman Policy automatically provides among the most liberal navigational limits available, with coverage while on land, inland waters, or in the coastwise waters of the Continental United States, Alaska, Hawaii or Canada. Our Boatsman Policy also provides medical payments benefits on a per person basis, rather than per occurrence, which is an important distinction. ACE Boatsman Programs and Endorsements Boatsman Policy Comprehensive, all-risk and agreed value protection for a wide range of boats, less than 27 in length Boatsman Policy with Actual Cash Value Endorsement A more affordable policy that provides actual cash value coverage for the hull for a discounted premium, along with other benefits Boatsman Endorsements Our valuable policy endorsements enable you to serve your clients with the highest degree of tailored small boat coverage. These include, among many others: For an additional premium, this endorsement provides replacement cost coverage for outboard motors and outdrive units, five years old or newer. For an additional premium, your clients can purchase optional fishing gear coverage limits of $2,500 or $10,000 with a $100 deductible. This endorsement also includes replacement cost coverage for outboard and outdrive units, 10 years old or newer. Operations & Processing Freddie Burch One Beaver Valley Road Wilmington, DE freddie.burch@acegroup.com Phone: Toll free: Fax: Bruce Wixson WA 11F Philadelphia, PA bruce.wixson@acegroup.com Phone: Fax: ACE Recreational Marine Insurance offers a variety of programs with the flexible options needed by experienced owners of specialized small boats, including: Bass Boats We can generally accommodate these vessels with speed capability to 60 mph, used in tournaments and in fresh water and/or brackish water. Pontoon Boats Coverage is available for these boats, less than 10 years old and used in inland waters. Older Boats We offer options for small boats 20 years and older, and a special program for classic and vintage power and sail boats. Please see side two of this sheet for details. Please contact ACE s Small Boat Underwriters to discuss other niche vessels you need to place, or to learn more about those listed above. Programs are continued on the other side, /2010

5 Small Boat Insurance Programs ACE Boatsman We pay the entire agreed amount, with no deductible, for a total loss in the Boatsman Policy. Repair or replacement of covered property is paid for without deduction for depreciation on most partial losses with the Boatsman Policy. Provides a cost-savings to your client by covering the insured boat up to its current market value in the event of a total loss, with consideration given to depreciation and condition of the vessel at the time of loss. With this endorsement, payments made for Partial Loss Settlement are reduced by depreciation of damaged items, and the policy deductible will be applied. Limits of coverage to suit your clients personal needs, including: legal defense costs, pollution and contamination coverage, and wreck removal. Reasonable medical and related expenses are included for all those onboard, boarding or leaving the covered vessel. These benefits are provided on a per person basis, rather than per occurrence. Optional and customized limits are available. Pays for bodily injury to persons aboard the insured watercraft who are injured by an uninsured owner or operator of another vessel. When liability coverage is purchased, coverage is automatically provided for those employed aboard the vessel who are within the jurisdiction of the LHWCA. Protection is automatically included for the clothing, personal effects and fishing gear of the boat owner and guests. Optional higher limits are available. We automatically include this coverage, with optional limits available. Operations & Processing Freddie Burch One Beaver Valley Road Wilmington, DE freddie.burch@acegroup.com Phone: Toll free: Fax: Bruce Wixson WA 11F Philadelphia, PA bruce.wixson@acegroup.com Phone: Fax: ACE also offers comprehensive and affordable coverage for Personal Watercraft (PWC) of various model types, length, speed and passenger capabilities. Our coverage includes Property, Liability, Medical Payments, Uninsured Boater and Towing & Assistance benefits, with optional trailer coverage available as well. Please contact the ACE Small Boat Center at BOAT (2628) to learn more about the ACE Personal Watercraft Policy. Protects an owner s investment in their PWC with various deductible options. Limits of $25,000, $50,000, $100,000, $300,000 and $500,000 are available. Reasonable medical and related expenses are included, with coverage options of $1,000, $2,500, $5,000 or $10,000. Coverage is included for $500 at no additional charge. Pays for bodily injury to PWC rider(s) who are injured by an uninsured owner or operator of another vessel. Coverage amount is the same as the. Automatically included is coverage for the PWC trailer. $150 of coverage is provided, at no extra charge ACE Recreational Marine Insurance is the marine marketing and underwriting division of ACE USA, the U.S.-based retail operating division of the ACE Group of Companies. Insurance policies issued by ACE are underwritten by the insurance companies of ACE USA that are rated A+ (Superior) by A.M. Best Company and A+ (Strong) by Standard & Poor s. *Company ratings as of February 1, This summary of available coverages is intended as general information and is not intended to amend, alter or modify the actual terms or conditions contained in any policy of insurance or its declarations. Exclusions and limitations may apply to some losses. Coverage may not be available in all states. Coverage is governed solely by the terms and conditions of the policy itself. Insurance buyers should consult their agent, broker or other insurance professional if they have questions about their insurance needs.

6 Yachtsman Insurance Programs Tailored coverage for vessels 27 feet or greater in length, up to $5 million in value ACE Recreational Marine Insurance and its predecessor companies have been providing yacht insurance since 1792, offering the most comprehensive policies available for both private pleasure or charter exposures. If you are seeking coverage for a personal yacht, corporate yacht or charter vessel, ACE has an array of specialty products to fulfill your needs. Customized Coverages and Options Our skilled underwriting staff provides the utmost attention to detail while focusing on specialized benefits for personal property, fishing equipment and tender/dinghy coverage, along with navigational limits designed to meet your needs and experience. With our regional yacht offices located in prime boating communities across the country, we re confident you ll be impressed with our superior degree of product knowledge and boating expertise. ACE Yachtsman Programs and Endorsements Serving the precise insurance needs of various segments of the yacht market has been a consistent hallmark of ACE Recreational Marine Insurance. One way we accomplish this is through our exceptional Yachtsman Policy and its many valuable policy endorsements, which are available subject to underwriting approval, and provide a range of cost-saving, enhanced or tailored protections unmatched in the marketplace. Yachtsman Policy Unparalleled, all-risk and agreed value protection for a wide range of pleasure yachts of varying types and sizes, including select occasional charter opportunities, and providing the most comprehensive coverages along with unique benefits and features. Yachtsman Policy with Partial Loss Actual Cash Value Endorsement A cost-saving alternative to meet boaters needs during these economically challenging times. This endorsement offers significant savings to those who want to protect their vessels fully with agreed value protection in the event of a total loss, but opt for an actual cash value (ACV) option for partial losses. Other details and benefits include: Available for yachts more than ten years old Provides Agreed Value coverage for Total Losses or Constructive Total Losses Partial Losses may be subject to depreciation and settled on an Actual Cash Value basis Substantially reduced pricing to save you money ACE Recreational Marine Insurance Yacht Product Manager Bruce Wixson WA 11F Philadelphia, PA bruce.wixson@acegroup.com Phone: Fax: Paragon Yacht SM Endorsement Designed exclusively for finer, high quality vessels with hull values between $1 million and $5 million, this endorsement provides many additional benefits, including: Electronic Navigation and Communications Equipment Coverage, with no deductible Firearms Coverage Rental Reimbursement Coverage Passport and Proof of Identification Replacement Coverage Bottom Inspection Coverage Captain and Crew Liability Coverage Personal Property Coverage for Crew Moped, Motorbike and Motorcycle Coverage, while onboard and not in use Unscheduled Fine Arts Coverage Tournament Sport Fishing Endorsement Tournament sport fishermen who own higher valued vessels will be interested in this coverage, with its added benefits such as: Increased Fishing Tackle Benefits Expanded Coverage for Vessels with Full-Time Captains Occasional Charter Coverage Available We invite you to learn more about our full range of yacht insurance programs by visiting Coverage features of the ACE Yachtsman Policy are continued on the other side /2010

7 Yachtsman Insurance Programs Yacht Policy Coverage Summary Insuring a full range of yachts is just the first of many advantages to insuring with ACE. Our yacht policies have long been considered the standard by which others are measured, providing unparalleled coverage along with unique benefits and features through various policy types. ACE Yachtsman Policy All-risk coverage and agreed value protection for a wide range of pleasure yachts of varying types and sizes, including select occasional charter opportunities. Agreed Value Coverage We pay the entire agreed amount, with no deductible, for a total loss. Replacement Cost Loss Settlement Repair or replacement of covered property is paid for without deduction for depreciation for most partial losses. Liability Protection Limits of coverage to suit your personal needs, including: legal defense costs, pollution and contamination coverage, wreck removal and Jones Act coverage for paid crew. Medical Payments Reasonable medical and related expenses are included for all those onboard, boarding or leaving the covered vessel. These benefits are provided on a per person basis, rather than per occurrence. Optional and customized limits are available. Uninsured Boater Coverage Pays for bodily injury to persons aboard the insured watercraft who are injured by an uninsured owner or operator of another vessel. Oil Pollution Act of 1990 (OPA) Coverage If you purchase Liability coverage, our policy provides coverage in addition to the up to the required OPA statutory limits, regardless of the amount of the chosen. Additionally, if the OPA statutory limit is increased in the future, our policy will automatically increase the applicable OPA limit to match the new higher statutory limits. Marine Environmental Damage Coverage Protection is automatically provided up to $10,000, per occurrence, for fines and penalties for marine environmental damage, as defined by the policy terms. This coverage limit is in addition to the insured s applicable Liability and OPA Limits. Longshore and Harbor Workers Compensation Act (LHWCA) When Liability coverage is purchased, coverage is automatically provided for those employed aboard the vessel who are within the jurisdiction of the LHWCA. Personal Property & Fishing Equipment Coverage Protection is automatically included for the clothing, personal effects and fishing gear of the boat owner and guests. Optional higher limits are available. ACE Recreational Marine Insurance Yacht Product Manager Bruce Wixson WA 11F Philadelphia, PA bruce.wixson@acegroup.com Phone: Fax: Search & Rescue / Emergency Services Coverage Expenses incurred by an insured in relation to a governmental unit such as the USCG that provide emergency aid and assistance, are included for no additional charge, up to a $10,000 limit. Towing & Assistance Our policy includes this coverage, with optional higher limits available. Tender/Dinghy Coverage We automatically include this protection, with optional limits and deductibles available. Trailer Coverage Optional protection is available with a low deductible. Boat Show & Demonstration Coverage We automatically provide this coverage, at no additional charge. Automatic Coverage for Marinas as Additional Insured Marinas, yacht clubs and similar facilities where insureds keep their vessels are included automatically as Additional Insureds. Hurricane Haul-Out Coverage Included automatically at no additional charge, insureds residing in storm-prone areas are provided with coverage for haul-out and storage fees when necessary to protect an insured yacht during a named storm ACE Recreational Marine Insurance is the marine marketing and underwriting division of ACE USA, the U.S.-based retail operating division of the ACE Group. Insurance policies issued by ACE are underwritten by the insurance companies of ACE USA that are rated A+ (Superior) by A.M. Best Company and A+ (Strong) by Standard & Poor s. *Company ratings as of November 1, This summary of available coverages is intended as general information and is not intended to amend, alter or modify the actual terms or conditions contained in any policy of insurance or its declarations. Exclusions and limitations may apply to some losses. Coverage may not be available in all states. Coverage is governed solely by the terms and conditions of the policy itself. Insurance buyers should consult their agent, broker or other insurance professional if they have questions about their insurance needs.

8 ACE Recreational Marine Insurance Personal Watercraft Rate Card We know our ABCs of PWCs Writing PWCs with ACE is easy! 1. Determine eligibility. Please see eligibility criteria chart on side If eligible, determine premium based on rates shown below. Use Rate Table 1, 2 or 3 based on mooring state. 3. To bind, enter the risk information into ORCA and click the Bind button on the Rate/Premium page. 4. To issue, fax or mail the completed and signed PWC application to your normal underwriting or service office. Important Note: Policy includes a $1,000 theft deductible if PWC is not securely locked when not in use. Determine premium as follows: All premiums include: 1. Property Select premium based on Deductible and Engine CCs. Trailer Coverage ($100 ded.) 2. Liability Select premium based on coverage limit. $150 Towing & Assistance Limit 3. Medical Payments Select premium based on coverage limit. Uninsured Boater Coverage 4. Annual Premium Add Property, Liability and Medical Payments premiums. Rate Table 1 Applies to states of: AL, AZ, CA, GA, HI, LA, MS, NC, NV, NM, SC, TX, WA PWC 850 CCs or Over 850 Personal Medical Medical Uninsured Property Less CCs Property Liability Liability Payments Payments Boater Deductible Premium Premium (Included) Coverage Premium Coverage Premium (Included) $250 $180 $260 $500 $25,000 $40 $1,000 Included Same as $500 $153 $221 $500 $50,000 $60 $2,500 $15 Same as $1,000 $144 $208 $500 $100,000 $80 $5,000 $20 Same as $300,000 $120 $10,000 $35 Same as $500,000 $150 Same as Rate Table 2 Applies to FLORIDA PWC 850 CCs or Over 850 Personal Medical Medical Uninsured Property Less CCs Property Liability Liability Payments Payments Boater Deductible Premium Premium (Included) Coverage Premium Coverage Premium (Included) $250 $270 $338 $500 $25,000 $60 $1,000 Included Same as ACE Recreational Marine Insurance WA11F Philadelphia, PA main facsimile recreational.marine@ acegroup.com $500 $230 $287 $500 $50,000 $90 $2,500 $15 Same as $1,000 $216 $270 $500 $100,000 $120 $5,000 $20 Same as $300,000 $204 $10,000 $35 Same as $500,000 $300 Same as Rate Table 3 - See other side /2010

9 ACE Recreational Marine Insurance Personal Watercraft Rate Card Determine premium as follows: All premiums include: 1. Property Select premium based on Deductible and Engine CCs. Trailer Coverage ($100 deductible) 2. Liability Select premium based on coverage limit. $150 Towing & Assistance Limit 3. Medical Payments Select premium based on coverage limit. Uninsured Boater Coverage 4. Annual Premium Add Property, Liability and Medical Payments premiums. Rate Table 3 Applies to states of: AK, AR, CO, CT, D.C., DE, IA, ID, IL, IN, KS, KY, MA, MD, ME, MI, MN, MO, MT, ND, NE, NH, NJ, NY, OH, OK, OR, PA, RI, SD, TN, UT, VA, VT, WI, WV, WY PWC 850 CCs or Over 850 Personal Medical Medical Uninsured Property Less CCs Property Liability Liability Payments Payments Boater Deductible Premium Premium (Included) Coverage Premium Coverage Premium (Included) $250 $137 $198 $500 $25,000 $30 $1,000 Included Same as $500 $116 $168 $500 $50,000 $46 $2,500 $15 Same as $1,000 $110 $158 $500 $100,000 $61 $5,000 $20 Same as $300,000 $91 $10,000 $35 Same as $500,000 $114 Same as PWC Eligibility Criteria Standard Submit to Underwriting Unacceptable Owner Licensed Driver Primary owner < 21 years old Owner leased units Personally Owned Underage owner (<18 years) Pleasure Use Timeshares No more than 2 unrelated owners More than 2 owners (other than family) Corporate ownership PWC Unit Speed up to 60 mph Speed > 60 mph Stand-up Jetski (max. 1 passenger) Seats 2-3 people PWCs for sale Out-of-business manufacturers 7 ft. up to 16 ft. in length More than 16 ft. in length Modified from stock No modifications Pre-existing damage Water-jet propulsion ACE Recreational Marine Insurance WA11F Philadelphia, PA main facsimile recreational.marine@ acegroup.com Use Pleasure Use Racing or speed tests Stunt or demo events Business or commercial use Rentals Operators Clean MVR (0-2 points) 3 or more points on license Primary operator < 18 years old No watercraft losses in past 3 years Watercraft loss in past 3 years Any DUI or similar infraction Minimum 1 year experience Minimum operator age 16 MVRs required if operator < 25 yrs old Exposure Florida mooring location Any risk in 5 boroughs of N.Y. City > $500,000 Off season storage at an unsecured location Liability only 2010 ACE Recreational Marine Insurance is the marine marketing and underwriting division of ACE USA, the U.S.- based retail operating division of the ACE Group. Insurance policies issued by ACE Recreational Marine Insurance are underwritten by the insurance companies of ACE USA that are rated A+ (Superior) by A.M. Best Company and A+ (Strong) by Standard & Poor s. Company ratings as of November 1, 2010.