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High Performance Policy
Performance Boat Program Policy Terms and Coverages
Property Damage Coverage
The Performance Boat Program Policy provides coverage for the actual cash value of an insured yacht at the time of a loss, as a result of accidental, direct physical damage while afloat, ashore or in transit within 250 miles of the insured’s home address, with few exclusions. Salvage charges are covered up to 25% of the Property Damage limit. Included in this coverage are machinery and other equipment normally required for the operation or maintenance of the yacht, while aboard the yacht or stored ashore. Mysterious disappearance and/or theft without visible signs of forced entry are excluded. Loss or damage to machinery inside or outside the vessel is limited to 25% of the Property Damage Coverage limit.
Liability
Covers the legal obligations of the insured person for third party damage, bodily injury or death, and defined oil pollution.
Medical Payments
Provides coverage for reasonable medical and related expenses to persons injured while on the yacht, boarding or leaving it, subject to few exclusions. Coverage amount is $5,000, with higher limits available upon request.
Uninsured Boater Coverage
Pays for damages resulting from bodily injuries received aboard an insured yacht that its owner is legally entitled to recover from an uninsured owner or operator of another vessel.
Federal Longshoremen’s and Harbor Workers’ Compensation
Provides coverage (when Liability coverage is purchased) for any liability the insured yacht’s owner incurs under the jurisdiction of the Federal Longshoremen’s and Harbor Workers’ Compensation Act, during the term of the policy.
Personal Property Coverage
Provides actual cash value coverage for clothing and personal effects of the owner and family while on board the vessel or being loaded or unloaded, including mysterious disappearance, subject to exclusions. Coverage is provided up to $2,500, with higher limits available.
Towing and Assistance
Coverage is provided for reasonable costs incurred, up to $500, for commercial towing and assistance in an emergency. The policy deductible does not apply to this coverage.
Vessel Trailer Coverage
Provides coverage for the actual cash value of any trailer for accidental physical loss or damage, subject to a deductible.
*The information, material and descriptions contained herein are intended to be a summary in nature and only provide a general overview of the types of coverage and concerns boaters should consider when selecting insurance for their boat or yacht. Any description(s) of insurance coverage herein shall not amend, modify, replace, alter or otherwise change the terms, conditions, limits, provisions, exclusions or endorsements contained in any policy issued by us. Please consult your policy for precise terms, limits, exclusions and conditions. The description(s) and material(s) contained herein shall not provide a basis for a legal relationship between us and any potential or existing customer and gives no cause to anyone for claims, demands, assertions or other rights towards us, either on a contractual or a non-contractual basis. All rights reserved.
The availability of the Peformance Boat Program may vary by state.
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