Departure Charter Policy^SM Terms and Coverages

Property Damage Coverage

The Departure Charter Policy^SM 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, with few exclusions. Included in this coverage are sails, machinery and other equipment normally required for the operation or maintenance of the yacht, while aboard the yacht or stored ashore. Loss or damage to machinery inside or outside the vessel is limited to 25% of the Property Damage Coverage limit. Salvage charges are covered up to 25% of the Property Damage limit.

Liability

Covers the legal obligations of the insured person for third party damage, bodily injury or death, and defined oil pollution. Also covered are the costs to remove or destroy the wreck of the insured yacht when required by law, and the owner’s liability to paid crew, including Jones Act coverage.

Alcohol-related liability claims are excluded under this policy, as are any claims arising from swimming, diving or parasailing.

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 $1,000, 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, fishing equipment and personal effects of the owner, family and clients while on board the vessel or being loaded or unloaded, 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 Departure Charter Policy may vary by state.

What would you like to do next?

• Go back to Yacht Insurance Services.
  

For Customers:

• Locate an ACE Recreational Marine Insurance Agent.
  

For Agents & Brokers:

• Download and print a Departure Charter Application
• Contact a Field Office – office directory.