All risk protection

You are insured against "All Risks" of Direct Physical Loss or Damage to the property from any External Cause (including loss or damage to machinery whether proximately caused by maritime perils or not), subject to the warranties, exclusions and conditions of this policy.

Three year guaranteed replacement cost

You are insured against "All Risks" of Direct Physical Loss or Damage to the property from any External Cause (including loss or damage to machinery whether proximately caused by maritime perils or not), subject to the warranties, exclusions and conditions of this policy.

Agreed Value

In a total loss of vessel we will pay the full value amount insured if:

1. if the Insured Vessel is completely lost;
2. if the Amount of Insurance for the Insured Vessel is $250,000 or less and the reasonable expense for salvaging and repairing the Insured Vessel exceeds 80% of that Amount of Insurance;
3. if the Amount of Insurance for the Insured Vessel is greater than $250,000 and the reasonable expense for salvaging and repairing the Insured Vessel exceeds that Amount of Insurance.

$1,000,000 wreck removal

If You are legally obligated to remove or otherwise dispose of the wreck of the Insured Vessel, We will pay the amount necessary to actually remove or otherwise dispose of the wreck, or the amount incurred following a failed attempt to raise the wreck of the Insured Vessel.

$5,000 on personal effects

We cover equipment, electronic equipment and personal effects up to $5,000.

Reduced deductible for personal effects and electronic equipment

The amount of each adjusted claim will be automatically reduced by the deductible amount shown on the Declaration Page(s) for personal effects and electronic equipment. If no deductible is shown for personal effects or electronic equipment, the Insured Vessel deductible will be applied.

$2,500 emergency towing and preventative costs

This covers costs incurred by You should the Insured Vessel become disabled for any reason other than loss or damage covered by this policy. We will pay for the reasonable cost, up to a maximum of $2,500, for:

1. towing to the nearest facility where necessary repairs can be made.
2. the cost for delivery of necessary fuel or repair parts to the site of disablement (excluding the cost of items delivered).
3. the cost of emergency labour performed at the site of disablement.
4. the cost of reasonable measures taken to avoid loss of or damage to the Insured Vessel from a known peril covered under this Policy.

Winterization (freezing) damage

Freezing damage is covered only if you have taken reasonable precautions
to protect the Insured Vessel during the following period of December 1st to April 1st (12:01 a.m.).

Uninsured and underinsured boater protection

We will pay for Bodily Injury sustained by You or any Insured as a result of an accident with a third party's underinsured vessel, or with an Uninsured Vessel.

We will only pay for the damages for which You or an Insured are legally entitled to recover from the owner or operator of such a vessel after a judgment of a court of competent jurisdiction is obtained. We are only liable for the difference between the limits payable under the third party’s liability insurance, if any, and the limits of liability stated within this Coverage.

We do not provide underinsured or Uninsured Vessel Coverage for Bodily Injury:

1. to any person on board the Insured Vessel injured by another vessel owned by You or another Insured;
2. to any person not on-board the Insured Vessel at the time of the accident;
3. if any person or legal representative settles the Bodily Injury claim without Our consent;
4. to benefit any insurer or self-insurer under any workers or workmen's compensation, disability benefits law or similar law.

Loss of use and additional living expenses $500 day / $5,000

Should the Insured Vessel be lost or damaged by an insured peril and it is necessary for You to rent a replacement vessel while the Insured Vessel is being replaced or repaired, We will reimburse You for that rental cost subject to the limits stated below.

If while holidaying, the Insured Vessel is lost or damaged by an insured peril and it is necessary for You to incur additional living expenses while the Insured Vessel is being replaced or repaired, We will pay any reasonable increase in costs, subject to limits stated below.

We will not pay more than $500 in total per day, subject to a limit of $5,000 per loss.

$1 or $2 million protection and indemnity coverage (liability) including fuel/oil spill

We will pay compensatory damages for Bodily Injury or Property Damage for which an Insured person becomes legally liable because of the ownership, maintenance or use of the Insured Vessel.