This particular product is ONLY available through an "exclusivity agreement" between Old United Casualty Company and our general agent, Insurance Center Special Risks, Ltd. (West Springfield, MA.) and their contracted sub-producers located throughout the following seven (7) New England states:
- Connecticut
- Maine
- Massachusetts
- New Hampshire
- New York
- Rhode Island
- Vermont
The Safe Harbor Watercraft Program's Specifications
Qualifications
Watercraft eligible for this program must be owned by individual(s) for personal use, be powered by outboard, inboard, jet, or inboard/outboard marine engine(s) or be a sailboat. The watercraft shall not exceed forty (40) feet [sixty (60) feet for houseboats/pontoons]. The hull must be BIA certified and engine(s) shall be those manufactured by recognized marine companies. The maximum speed considered under this program is 70 MPH.
To qualify for the "Preferred Program", risks must conform to the following criteria:
Operator:
To qualify for this program, the operator must have no prior boat losses, no major traffic/boating violations, no more than two (2) minor violations per driver within the past three (3) years, and have at least three (3) years of boating experience.
Watercraft:
To qualify for this program, the watercraft must not be able to exceed a maximum speed of 50 MPH, a maximum length of thirty (30) feet, and a maximum age of fifteen (15) years.
Valuation
"Actual Cash Value", subject to normal depreciation, on all watercraft --- unless one of the following two endorsements are purchased for an additional premium by the Insured. The two additional valuation options that are available to Insureds are:
- "Replacement Cost" Coverage is available at an additional premium charge on watercraft two (2) years old or newer.
- "Agreed Value", except for certain specific scheduled items, is available at an additional premium charge on watercraft ten (10) years old or newer.
Coverages And Sublimits
- Coverage "A": Watercraft Hull And Equipment (Physical Damage Coverage)
With a maximum forty (40) foot length limitation (no dollar value limitation is applicable).
- Coverage "B": Trailer Coverage
Subject to "Actual Cash Value" valuation.
- Coverage "C": Personal Effects Coverage
Standard coverage is $500., but additional limits may be purchased at a nominal additional premium charge.
- Coverage "D": Watercraft Liability Coverage
Options of $10,000., $25,000., $50,000., $100,000., $300,000., and $500,000.
- Coverage "E": Longshoremen's And Harbor Workers' Compensation Coverage
Automatically included if Coverage "D" purchased by the Insured.
- Coverage "F": Medical Payments Coverage (Optional)
Available at an additional premium charge subject to a maximum limit of $5,000.
- Coverage "I": Uninsured Boatowners Coverage
Options of $10,000., $25,000., $50,000., $100,000., $300,000., and $500,000. However, Uninsured Boatowners Coverage cannot exceed the limit of Watercraft Liability (Coverage "D") chosen by the Insured.
- Emergency Towing And Assistance Coverage
Standard coverage included in the cost of the policy is $250.This can be increased to a higher limit of $500.for a nominal additional premium charge.
Deductibles
Watercraft Hull & Equipment Physical Damage Coverage has a "standard" 2% of the value deductible (subject to a minimum deductible of $250.). A higher deductible of 5% of the value (subject to a minimum deductible of $500.) is available for a -10% credit to the policy's Coverage "A" --- Watercraft Hull And Equipment Physical Damage Coverage portion of the premium.
Trailer Coverage has a "standard" flat $250. deductible applies with no option to increase or decrease the dollar amount.
Personal Effects Coverage has a "standard" 2% of the value deductible (subject to a minimum deductible of $250.).
Minimum Premiums
The minimum written and retained premium is $175. per policy.
Optional Coverages Available
- Watersports Liability Coverage
Options of $10,000., $25,000., $50,000., $100,000., $300,000., and $500,000. However, Watersport Liability Coverage cannot exceed the limit of Watercraft Liability (Coverage "D") chosen by the Insured.
- Accidental Contaminant/Oil Spill Pollution Endorsement
The coverage limits for this particular coverage is either $100,000. or the Limit of Liability chosen be the Insured for Coverage "D" --- Watercraft Liability, whichever is less.
Special Premium "Discounts" Available
- "Preferred Program" Discount for those applicants that qualify:
- The "operator" must have no previous losses, no more than two minor violations per driver in the past three years, no major violations or "at-fault" accidents, and at least three years of boating experience; and
- The "watercraft" cannot exceed 50 MPH, a length of thirty (30) feet, and be less than fifteen (15) years of age.
- Completion of various boating educational courses.
- Good driver discount --- no more than one minor violation per person, two per family.
- All operators over 50 years of age and older and all with three (3) years minimum boating experience.
- Theft-deterrent and security devices on your watercraft and watercraft's trailer.
- Increased "theft deductible" of either $1,000. or $2,500. available.
All policies' coverages are subject to policy limits, terms and conditions. For a complete coverage description, refer to the actual "Safe Harbor" Watercraft Insurance Policy form.
Agents:
To possibly obtain access to Insurance Center Special Risks, Ltd.'s exclusive Safe Harbor Watercraft Program, please visit the web site of Insurance Center Special Risks, Ltd. @ www.specialrisksltd.com. Click on the Agent Signup tab and complete and forward the Signup forms.
Appointed agents can access our web based Boat Rater to quote the Old United Safe Harbor Watercraft program available in all New England states and New York.
THIS POLICY IS ONLY AVAILABLE IN THE FOLLOWING STATES:
Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont.
Agent Signup: https://specialrisksltd.com/Website_Agent_Signup.pdf
Products: https://specialrisksltd.com/products.html
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