This document provides an overview of different types of pleasure craft that can be insured, including fishing boats, bass boats, runabouts, jet boats, ski boats, pontoon boats, sail boats, cruisers, trawlers, house boats, classic wooden boats, and tenders. It describes the key features of each type of craft. It also outlines coverage types, deductibles, claims processes, and risks to be aware of for a marine insurance policy.
3. Fishing Boats
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Small leisure boat
or fishing boat
Aluminum hull
Outboard engine
May have a second
small kicker/trolling
outboard engine
Many have a bow
mounted electric
motor
Easy to trailer,
launch, retrieve
and operate
4. Bass Boats
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Low, sleek profile boat
Built to fish with 2-3
anglers on board
Equipped with a live
well and an electric
trolling motor
Can reach speeds in
excess of 65 mph
5. Runabouts
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Typical cottage or trailer
boat
Either closed bow or
bowrider
Bowrider models allow for
extra seating in the front
Primarily made of
fiberglass
Many uses including
fishing, water skiing,
wakeboarding and tubing
7. Water Ski-Wakeboard Boats
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Specialty built vessel
intended
to quickly lift a water
skier or wakeboarder
Designed for driver
to hold set speed
over a course
Typical speed 45
mph
They create wake or
no wake depending
upon the purpose
9. Sail Boats
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Vessel uses wind as
its primary means
of propulsion
Small cottage
sailboats 14-20’
Some can be
trailered up to 28’
Medium local
cruising boats 2432’
Long range cruising
sailing yachts 40’+
10. Cruisers
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Powerboat with a cabin,
head, galley, etc.
Trailerable up to 30 feet
Weekender 24-28’
w/single engine
Mid size 32–40’ w/twin
engines
Large 42’+ typically
with twin diesel engines
Speeds of up to50 mph
11. Trawlers
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So named as they are
similar to commercial
fishing vessels
Much like a cruiser, but
much slower 8-12 mph
Typically powered by
single diesel engine
with a large fuel
capacity allowing for
long range cruising
capabilities
12. House Boats
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Recreational boat
with large open
space on one level
above the waterline
Designed for use as
a dwelling
Best suited for
rivers, lakes and
coastal waterways
Stay away from pre
2000 models
14. Tender or Dinghy
• A small boat carried
aboard a pleasure craft
• Provides transit from
anchorage to shore,
other vessels or for use
in an emergency
• Usually less than 10’ in
length
• Usually with a small
outboard motor
15. Boats We Do Not Insure
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High Performance Boats – Cigarette Boats
Tunnel Hull Boats
Performance Catamaran’s (Power & Sail)
Tri-Maran’s
PWC’s
Small cottage type Rowboats, Canoes or
Kayaks
Boats capable of speeds in excess of 70
MPH
22. Engine & Propulsion Types
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Outboard Motor
Inboard/Outboard Motor
Inboard Engine – Shaft/V Drive
Inboard Engine – Pod Drive
Jet Drive
23. Outboard Motors
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Engine mounted with
clamps or through
bolted on the transom
of the boat
Some boats may have
2 or 3 outboards for
redundancy
Range in size from 2.5
hp to 350 hp
25. Inboard Engine Shaft Drive
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Engine is mounted
inside the boat in the
best location for weight
distribution
Fixed propeller shaft
protrudes through the
bottom of the boat and
is attached inside to the
transmission
26. Inboard Engine Pod Drive
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On some newer boats
with Diesel engines an
option is to connect to
pod drive systems
mounted directly below
the transmission
Pod drives or Azimuth
drives are designed to
shear off in the event
of a collision with a
submerged object.
27. Jet Pump Drive
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Water enters
through a grate
mounted on the
bottom of the
hull
An impeller inside
the housing
forces the water
out through the
nozzle propelling
the boat
The nozzle is
steerable and a
flap is mounted
to allow for
reverse
28. Why Have a Separate
Marine Policy?
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Coverage is more comprehensive
Claims will not affect property policy
Liability Coverage is P&I vs. General Liability
Includes Wreck Removal, Accidental Pollution
coverage
• Knowledgeable team of marine underwriters,
adjusters, and surveyors at your service
30. Coverage
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Boat & Equipment (Agreed Value basis)
Liability Coverage (1 or 2 million)
Uninsured Boater Liability (1 million)
Accidental Pollution
Wreck Removal
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Medical Payments (limits based on boat value/type)
Personal Effects (limits based on boat value/type)
Commercial Towing (limits based on boat value/type)
31. Tenders, Tender Outboards
& Trailers
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Our policy provides coverage for tenders, tender outboards, and
trailers.
The current market values of each item are listed separately on
the Declaration Page with a separate deductible.
We will pay up to the Limit of Coverage show on the Declaration
Page, subject to the deductible, for these items.
Claims settlement is on an ACV basis for tenders, tender
outboards, and trailers once they are 5 years old.
32. Deductibles
Boat & Equipment:
• Deductible can be between 1 – 4% of the boat value
• Same deductible applies for above & below the waterline
• Deductible waived on a total loss
Separate Deductibles for:
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Electronics - $250
Tender - $150
Tender Outboard - $150
Trailer - $50
Personal Effects - $50
33. Resultant Damage due to
Breakdown-Wear-Deterioration
mechanical breakdown
wear, tear, marring, scratching
superficial denting
deterioration, mold, wet or dry rot
rust, corrosion, weathering
electrolysis, galvanic action
blistering, delamination, osmosis
lack of maintenance
IF:
Fire
Sinking
Submersion
Rigging Failure
Collision or Stranding
Example:
Engine fails due to lack of
maintenance & collides with
another boat.
Outcome:
Engine damage is not covered.
Boat damage is covered.
**Note:
Some policies may not cover
the engine or the boat.
results from one of these causes,
we will provide coverage
for the direct loss.
34. Total Loss
Actual Cash Value* vs. Agreed Value**
Insured Amount
$ 30,000.00
Insured Amount
$
Less Depreciation
$-
4,000.00
Less Depreciation
$-
0.00
Less Deductible
$-
500.00
Less Deductible
$-
0.00
Payment
$ 25,500.00
Payment
$ 30,000.00
*Replacement cost less depreciation
30,000.00
**Value agreed upon by the insured and
insurance company – no depreciation
Which would you rather provide to your client?
35. Extended Navigation
We can provide coverage for the following destinations
Coastal U.S - Bahamas - Eastern Caribbean - Bermuda
**No Named Storm coverage between June 1st – November 30th
36. Claims
Most Common Claims (by frequency)
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Striking a submerged object
Theft of boat, equipment or personal effects
Heavy Weather
Grounding
Machinery Breakdown
Collision with another boat
45%
15%
15%
8%
7%
5%
