Policy Comparison

	Ace American Yachtmans Policy Review Policy A.M. Best Rating	Northern Insurance Master Mariner Policy Review Policy in effect before 03/01/09 Review Policy in effect after 02/28/09 A.M. Best Rating	American Modern First Choice Policy Review Policy A.M. Best Rating	Ace American Departure Policy Review Policy A.M. Best Rating	Ace American Performance Policy Review Policy A.M. Best Rating	American Modern Performance Policy Review Policy A.M. Best Rating
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   More Information	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   More Information	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   More Information	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   More Information	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     More Information	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   More Information	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   More Information	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 More Information	Available by endorsement	$500 electronics deductible applies	Not Available	Not Available	Not Available	Not Available
Named Storm Deductible (Hurricane, Tropical Storm, Tropical Depression) More Information	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 More Information	Available by endorsement	Included in standard Contract	Not Available	Available by endorsement	Available by endorsement	Not Available
Overland Transit   More Information	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)   More Information	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   More Information	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   More Information	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:   More Information	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 base policy.  Additional limits available.	$2500 is included in base policy.  Additional limits available.	Base policy contract does not include personal effects.  $1000 is available or $5000 is available at an additional premium.
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   More Information	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.