Boat – New Product Comparison

New discounts and options lift the new boat product above the competition.

Substantial changes to the boat program will help you customize coverage for just about anything up to 26 feet in length that floats. Yachts (longer than 26 feet) are now covered in a separate program with different coverage limits and options. The number of discounts has tripled, and there are new options to customize the coverage (which replace the previous endorsement packages). Insurance scoring is now factored into the rate, which will benefit good customers.

Streamlined process gets your quote done fast

  • Key questions that may prevent a risk from being accepted are asked up-front to save you the time of creating a full quote
  • Customer and vehicle data is “pre-filled” using information already entered into the system and from other sources. This eliminates duplication and streamlines the process.
  • Integrated C.L.U.E. reports for watercraft losses determine the number of claims, and import the details.
  • Integrated MVR reports automatically import any violation details saving you time.

• New Item

 Current Watercraft Product  New Boat Product
 Ownership and drivers • Title may be held by an individual, trust, LLC or corporation. • Title may be held by an individual, trust, LLC or corporation.
 Boat types accepted • Bass/walleye
• Sport fisher
• Runabout
• Ski boat
• Cruiser
• Mid-performance
• High-performance
• Sail boat
• Pontoon
• Houseboat
• Trawler
• Hovercraft
• Bass/walleye
• Sport fisher
• Runabout
• Ski boat
• Performance
• Sail boat
• Pontoon
• Houseboat
• Hovercraft
• Antique
• Personal watercraftYachts (longer than 26 feet) are covered in a separate program.
 Coverage levels • Full coverage
• Liability only
• Full coverage
• Liability only
 Loss settlement • Agreed Value for units up to 10 years old
• Actual Cash value for units greater than 10 years old with the ability to endorse them to agreed value or replacement cost
• Agreed value / options for actual cash value or replacement cost
 Included coverage • Liability, BI and PD
• Accidental spill pollution
• Under/uninsured boaters
• Watersports liability
• Medical payments
• Wreck removal
• Emergency assistance/towing
• Consequential damage
• Fishing gear/personal effects
• Haul out
• Liability, BI and PD
• Accidental spill pollution
• Under/uninsured boaters
• Watersports liability
• Consequential damage
• Emergency assistance and towing
• Fishing gear and personal effects
• Parts replacement for parts up to 10 years old
• Medical payments
• Wreck removal
• Pet protection
 Optional coverage • Advantage Plus package
• Yacht Plus package
• Pro Angler package
• Boat lift
• Diminishing deductible
• Hull damage
• Trailer physical damage
• Hull damage (includes consequential damage, parts replacement for parts up to 10 years old, haul out, towing and emergency expense)
• Extended parts replacement for parts up to 15 or to 20 years old
• Bow to stern protection
• Genuine parts security
• Diminishing deductible
• Professional angler
• Boat lift
• Chartered fishing guide
• Port risk
• Rental reimbursement
• Tournament fee reimbursement
• Trailer physical damage
• Travel loss reimbursement
 Discounts • Claim-free renewal
• Diesel fuel
• Insuring multiple personal watercraft
• Ownership experience
• Transferring a policy
• Advance quote
• Anti-theft device installation
• Association membership
• Customer loyalty (renewal)
• Homeownership, any carrier
• Multiple policies with American Modern
• Multiple vehicles on a policy
• No driving violations
• Paperless policy
• Paying in full
• Preferred customer (claims free)
• Prior insurance (from other carrier)
• Safety course completion
 Payment options • Full pay
• Monthly, EFT only
• 4-Pay, billed
• Full pay
• Monthly, EFT only
• 2-Pay, billed or EFT
• 4-Pay, billed or EFT
• 6-Pay, billed or EFT

The Boat product is offered just through American Modern Property and Casualty Insurance Company, and will begin rolling out in 2016.