ALEXANDRIA, Va., February 24, 2011 – Boat Owners Association of The United States (BoatUS) offers a new add-on package of boat insurance policy enhancements for small to mid-sized boats that adds more features, such as $2,500 in personal effects coverage, a low electronics deductible and a depreciation waiver, for one low price.
“Our new Premiere Value Package has many of the features traditionally found on policies for the bigger-sized boats or yachts, yet we priced it very affordably,” said BoatUS Vice President of Underwriting Mike Pellerin. “You’ll have peace of mind, and we’ll do things for you other insurers won’t - like help you learn from others’ mistakes and accidents with information in our Seaworthy Magazine. And when you do have a claim, you will have the most knowledgeable and efficient claims staff working for you.”
BoatUS’ Premiere Value Package includes a depreciation waiver for boats less ten years old. That means that if there is a partial loss on a covered item within that time - for example, canvas that’s torn to shreds in a storm - BoatUS will pay for new replacement canvas. Also, ice and freeze damage coverage is automatic, which would cover the damage to a frozen and cracked engine block anywhere in the US.
The new package also acknowledges that electronics theft is a common cause of claims, so this deductible is set at a low $100. “Medical payments” coverage is also increased to $10,000 limit (from $1,000 in most policies) and $2,500 in personal effects coverage for things like cameras, computers or smart phones is included.
Purchased a la carte, these features would likely run you around $300, but the BoatUS Premiere Value Package adds them for just $50 additional. This package can also be added BoatUS’ angler policies.
All BoatUS boat policies include “consequential damage” coverage, which may, for example, pay off the policy’s value if you have a catastrophic loss that includes fire, explosion, sinking, demasting, collision or stranding. “For example, in many competitor’s policies, if your boat sinks due to a rusted, broken through-hull fitting, it would be declared normal wear and tear, which means the policy isn’t likely to pay. It’s offering these kinds of features that make a better boat insurance policy,” added Pellerin.
BoatUS – Boat Owners Association of The United States – is the nation’s leading advocate for recreational boaters providing over half a million members with government representation, programs and money-saving services. For membership information visit www.BoatUS.com or call 800-395-2628.