Ace American
Yachtmans Policy

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Northern Insurance Master Mariner Policy

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American Modern
First Choice Policy

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Ace American
Departure Policy

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Performance Policy

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American Modern
Performance Policy

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Hull Insurance – Loss definition Provides coverage for accidental, direct physical loss or damage to your insured vessel as well as salvage charges, except as specifically excluded in the policy. Will cover the direct accidental physical loss and any loss caused by a latent defect except as otherwise excluded in the policy. Pay for loss to the insured watercraft arising out of an accident except as specifically excluded by the policy. Accident means a direct and sudden event which results in bodily injury, property damage or loss which an insured person does not expect. Provides coverage for accidental, direct physical loss or damage to your insured vessel as well as salvage charges, except as specifically excluded in the policy. Provides coverage for accidental, direct physical loss or damage to your insured vessel as well as salvage charges, except as specifically excluded in the policy. Pay for loss to the insured watercraft arising out of an accident except as specifically excluded by the policy. Accident means a direct and sudden event which results in bodily injury, property damage or loss which an insured person does not expect.
Loss Settlement
Agreed Value

Total Loss

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Yes

Standard contract is written on Agreed Value. There are two Ace policies, the Departure Policy and the High Performance Policy written on Actual Cash Value.
Yes

Contract is written on Agreed Value
Yes

Standard contract provides Agreed Value to 10 years of age; endorsement extends coverage beyond 10 years of age.
No

Policy is on Actual Cash Value.
No

Policy is on Actual Cash Value.
Yes

Standard contract provides Agreed Value to 10 years of age; endorsement extends coverage beyond 10 years of age.
Actual Cash Value

Total Loss

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Standard policy is Agreed Value but Actual Cash Value is available for discounted premium. No

Standard policy is Agreed Value.
Standard policy is Agreed Value but Actual Cash Value is available for discounted premium. Yes Yes Standard policy is Agreed Value but Actual Cash Value is available for discounted premium.
Replacement Cost Value

Total Loss

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No No Yes

Coverage is available for an additional premium.
No No Yes

Coverage is available for an additional premium.
Replace Cost for partial Losses

(Property Subject to Depreciation) More Information
Yes

Per policy terms and conditions
Yes

Per policy terms and conditions
Yes

Per policy terms and conditions
No

Policy form is on Actual Cash Value and partial loss is on depreciated value
No

Policy form is on Actual Cash Value and partial loss is on depreciated value
Yes

Per policy terms and conditions
How is my Machinery Covered

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Actual Cash Value on outboard and stern drives without endorsement.

New for old on outboard and stern drives with endorsement. New for old on inboards. Subject to depreciation on aged units.
New for old subject to depreciation on aged units. New for old to 10 years of age. Actual Cash Value. Actual Cash Value. New for old to 10 years of age.
Machinery Damage Exclusion No Yes for new policies written after 02/28/2009 or renewal policies written after 03/31/2009.

Prior to 03/01/2009 there was No machinery damage exclusion
Yes Yes Yes Yes
Policy Form Everything is covered except what is specifically excluded. Everything is covered except what is specifically excluded. Everything is covered except what is specifically excluded. Everything is covered except what is specifically excluded. Everything is covered except what is specifically excluded. Everything is covered except what is specifically excluded.
Exclusions Review Policy Review Policy Review Policy Review Policy Review Policy Review Policy
Tender

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Is automatically covered. You can schedule the Tender to get a lower deductible for an additional premium. PWCs are excluded as Tenders. Is automatically covered subject to specific terms and conditions and subject to a $250 deductible.

Subject to the tender length not greater than 16’ and engine hp not greater than 50hp.

PWCs are excluded as Tenders. See More Info for additional conditions.
Is NOT automatically covered. Can be added for additional premium.

Subject to the tender length not greater than 13’ and engine hp not greater than 15hp. PWCs are excluded as Tenders.
Is automatically covered. You can schedule the Tender to get a lower deductible for an additional premium.

PWCs are excluded as Tenders.
Coverage for a Tender is not available on the performance policy. Is NOT automatically covered. Can be added for additional premium.

Subject to the tender length not greater than 13’ and engine hp not greater than 15hp. PWCs are excluded as Tenders.
Trailers

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Provides accidental, direct physical loss or damage to any trailer listed on the policy declarations page if used exclusively for transporting the vessel.

Settlement is on Actual Cash Value.
Provides direct physical loss or damage to any trailer listed on the policy declarations page if the trailer is designed and used exclusively for highway transportation of the vessel.

Settlement is on Actual Cash Value.
Provides direct physical loss or damage to a trailer that you own and used exclusively to transport the insured watercraft over land. Settlement is same as boat. See Loss Settlement above. Provides accidental, direct physical loss or damage to any trailer listed on the policy declarations page if used exclusively for transporting the vessel.

Settlement is on Actual Cash Value.
Provides accidental, direct physical loss or damage to any trailer listed on the policy declarations page if used exclusively for transporting the vessel.

Settlement is on Actual Cash Value.
Provides direct physical loss or damage to a trailer that you own and used exclusively to transport the insured watercraft over land. Settlement is same as boat. See Loss Settlement above.
Personal Watercraft Coverage is not available on the standard boat contract. PWC coverage is available. Coverage is not available on the standard boat contract. PWC coverage is available. Coverage is not available on the standard boat contract. PWC coverage is available. Coverage is not available on the standard boat contract. PWC coverage is available. Coverage is not available on the standard boat contract. PWC coverage is available. Coverage is not available on the standard boat contract. PWC coverage is available.
Deductibles:
Hull Deductibles

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Minimum 1% subject to $250. Aged vessels have higher minimum deductible Minimum 1% subject to $250. Aged vessels have higher minimum deductible Minimum 1%. Aged vessels have higher minimum deductible Minimum 1% subject to $250. Minimum 3% subject to $1000. Minimum 1%. Aged vessels have higher minimum deductible
Electronics Deductible

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Available by endorsement $500 electronics deductible applies Not Available Not Available Not Available Not Available
Named Storm Deductible (Hurricane, Tropical Storm, Tropical Depression)

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Vessels in storm area subject to 5% or 10% of the hull value Vessels in storm area subject to 5% or 10% of the hull value Named Storm Deductible is 2 times hull deductible. Named Storm Deductible is 3 times hull deductible or $2500 which ever is greater. Named Storm Deductible is 3 times hull deductible or $2500 which ever is greater. Named Storm Deductible is 2 times hull deductible.
Other Boat (hull) Coverages:
Hurricane (storm) Haul Out Coverage

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Available by endorsement Included in standard Contract Not Available Available by endorsement Available by endorsement Not Available
Overland Transit

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Full coverage without limitation if using your own trailer. Coverage is limited to 250 mile radius of your home port if transportation is by other than a trailer you own. Full coverage without limitation if using your own trailer. Coverage is limited to 300 mile radius of your home port if transportation is by other than a trailer you own. Full coverage without limitation. Policy does have exclusions for weight capacity of trailer, tow weight capacity of tow vehicle, beam exceeding state requirements without permits, and lack of maintenance on the trialer. Subject to a 250 mile radius of your home port. Subject to a 250 mile radius of your home port. Full coverage without limitation. Policy does have exclusions for weight capacity of trailer, tow weight capacity of tow vehicle, beam exceeding state requirements without permits, and lack of maintenance on the trialer.
Equipment on Shore Subject to 50% of hull value Not addressed by policy terms and conditions Not addressed by policy terms and conditions Subject to 50% of hull value Subject to 50% of hull value Not addressed by policy terms and conditions
Salvage Charges

wreck removal (grounded/stalled)

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Pay for salvage charges you incur arising from a covered loss. Payments are in addition to any other payments for loss; however, the most they will pay for salvage charges is the boat and equipment limit shown on the policy Pay for salvage charges you incur arising from a covered loss. Payments are in addition to any other payments for loss; however, the most they will pay for salvage charges is the boat and equipment limit shown on the policy Pay for salvage charges you incur arising from a covered loss. Payments are in addition to any other payments for loss; however, the most they will pay for salvage charges is 50% of the boat and equipment limit shown on the policy Pay for salvage charges you incur arising from a covered loss. Payments are in addition to any other payments for loss; however, the most they will pay for salvage charges is 25% of the hull. Pay for salvage charges you incur arising from a covered loss. Payments are in addition to any other payments for loss; however, the most they will pay for salvage charges is the boat and equipment limit shown on the policy. Pay for salvage charges you incur arising from a covered loss. Payments are in addition to any other payments for loss; however, the most they will pay for salvage charges is 50% of the boat and equipment limit shown on the policy.
Commercial Towing Coverage

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Included at $500 or $1500 based on vessel value Included at $500, $1500 or $10,000 based on vessel value Not included in base coverage. Available by endorsement at $350 or $1500 Included at $500 Included at $500 Not included in base coverage. Available by endorsement at $350 or $1500
Lay-Up periods

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Vessels <27’ no lay up. Rate based on moorage(garage) state.

Vessel >26’ lay-up available for discount to annual premium.
Vessel >26’ lay-up available for discount to annual premium. No lay-up used. 12 months navigation allowing credit based on the moorage (garage) state. Lay-up available for discount to annual premium. Lay-up available for discount to annual premium. No lay-up used. 12 months navigation allowing credit based on the moorage (garage) state.
Personal Effects:

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For vessel <27 $2500 is included in base policy. For vessel >26 $10,000 is included. Additional limits available. For vessel with values <250,000 base policy includes $2500. For values >250,000 and less then 500,000 includes $25,000. For values >500,000 $50,000 limit is included.

Effective 03/01/2009 for new policies and 04/01/2009 for renewal policies, no personal effects coverage while the vessel is in lay-up.
Base policy contract does not include personal effects. $1000 is available or $5000 is available at an additional premium. $2500 is included in $2500 is included in Base policy contract does not include personal effects. $1000 is available or $5000 is available at an additional
Liability Coverage Pay sums that you or a covered person become legally obligated to pay as a result of the ownership, operation or maintenance of your insured vessel. Per policy terms and conditions Pay sums that you or a covered person become legally obligated to pay as a result of the ownership, operation or maintenance of your insured vessel. Per policy terms and conditions Pay sums which an insured person is legally liable. Must be caused by an accident during the policy period. Liability must arise from the ownership, maintenance or use of the insured watercraft. Pay sums that you or a covered person become legally obligated to pay as a result of the ownership, operation or maintenance of your insured vessel. Per policy terms and conditions Pay sums which an insured person is legally liable. Must be caused by an accident during the policy period. Liability must arise from the ownership, maintenance or use of the insured watercraft. Pay sums that you or a covered person become legally obligated to pay as a result of the ownership, operation or maintenance of your insured vessel. Per policy terms and conditions
Fuel Spill Pollution

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Included in the liability coverage. Provides coverage up to $800,000 or the liability limit shown on the declarations page, whichever is higher. Separate coverage limit of $800,000. Included in the liability coverage. The pollution or contamination must be caused by a covered loss. Included in the liability coverage. Provides coverage up to $800,000 or the liability limit shown on the declarations page, whichever is higher. Included in the liability coverage. Provides coverage up to $800,000 or the liability limit shown on the declarations page, whichever is higher. Included in the liability coverage. The pollution or contamination must be caused by a covered loss.
Charter Excluded by this policy. Full charter policy available. Excluded by this policy. Coverage is not available. Excluded by this policy. Coverage is not available. Excluded by this policy. Full charter policy available. Excluded by this policy. Coverage is not available. Excluded by this policy. Coverage is not available.
Vessel Use Private Pleasure Base contract is for Private Use only. Will allow Occasional Charter for an additional premium. Has separate policy for full charter. Does not provide coverage for any other commercial use. Base contract is for Private Use only. Base contract is for Private Use only. Base contract is for Private Use only. Will allow Occasional Charter for an additional premium. Has separate policy for full charter. Does not provide coverage for any other commercial use. Base contract is for Private Use only. Base contract is for Private Use only.
Medical Payments For boats <27’, $5000 limit included. For boats >26’ $25,000 limit automatically included. Additional limits available. For boat <$250,000, $10,000 limit is included. For values >$250,000 and <$500,000, $25,000 limit is included. For $500,000 and greater the limit is $50,000. Additional limits available. $1000 limit is included. Additional limits are available up to $25,000. $5000 limit included. Additional limits available. $5000 limit included. Additional limits available. $1000 limit is included. Additional limits are available up to $25,000.
Uninsured Boater Coverage Limit is included at the same as the liability up to $2,000,000.

Provides coverage for Uninsured, or hit and run.
Limit is included at the same as the liability limit.

Provides coverage for Uninsured, underinsured and hit and run
No limit is included. Limits are available, half the liability limit or same as the liability limit for additional premium. Provides coverage for Uninsured, Underinsured and hit and run. Limit is included at the same as the liability up to $2,000,000.

Provides coverage for Uninsured, or hit and run.
Limit is included at the same as the liability up to $2,000,000.

Provides coverage for Uninsured, or hit and run.
No limit is included. Limits are available, half the liability limit or same as the liability limit for additional premium. Provides coverage for Uninsured, Underinsured and hit and run.