Navigating Insurance Can Be
Confusing.......
We all want to save money on insurance. Before you buy on
'price' alone, you should know what is covered and what is not.
Marine insurance varies by company and by policy, so ask
questions and buy coverage that addresses your
sailing/racing needs.
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Feedback from a satisfied customer:
I still have an Etchells which is insured through your program.
Your insurance program is great and I recommend it to all OD
sailors!
Jeff, Etchells USA-1307 |
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Another testimonial:
Last month, J24 Fleet of San Francisco Bay planned to hold its
first
weekend training clinic as part of our efforts to build fleet
participation. Two days before the event, one of the officers
asked whether we had adequate liability insurance. We had none. I placed a call to the US J24 Class office to see if they had an
umbrella policy covering local fleets. No luck there. Before giving up and
canceling the event, I then called US SAILING.
US SAILING was great. Within minutes, I was placed in contact with Denece at Gowrie, Barden & Brett. An hour later, we were covered by a million
dollar liability policy at a very affordable rate. If it weren't for US
SAILING's insurance program, the clinic would have been cancelled at the last
minute.
Hats off to US SAILING!
Thom Henneberger,
J/24 Fleet 17
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One-Design Insurance Program
US SAILING and Gowrie, Barden & Brett now offer a comprehensive insurance program designed specifically for owners of one-design sailboats. This cost-effective program covers one-design classes that are designed for inshore racing and
do not have inboard engines.
US SAILING members receive a 10% discount. Currently, all Olympic and Paralympic class boats
-- over 100 classes in all -- are covered in the program, with more classes to be added to the list upon request.
Special features include:
- 10% discount for US SAILING members
- racing coverage
- worldwide coverage or in the U.S. only
- coverage for overland transportation (trailering)
- Charter coverage is available by endorsement
- the insurance provider has the highest possible rating, A++, by A.M. Best
Why insure my boat?
If you do not insure your boat, and lend it to a friend and the friend gets hurt or worse, causes injury to another person, you are exposing yourself, your family and your assets to a possible liability lawsuit. The One Design Program affords peace of mind that you, or anyone borrowing your boat, is covered for property damage and personal injury. You will be protected up to the amount of insurance you buy. All One Design claims are handled by a marine surveyor and if litigation is required, it is handled under maritime law where it belongs, not in civil court where home and auto claims are resolved.
Don't come up short on your boat's valuation:
The One Design Program is an agreed value marine insurance policy offering coverage for the hull with no depreciation. If you paid & insured your boat for $10,000 in 2001, and you had a total loss in 2005, you would get a check from the insurance company for $10,000. Partial losses have a deductible, but a total loss does not. Protect your investment.
A racing deductible keeps the costs down.
A lot of people ask about the higher racing deductible. The answer is quite simple. There are more claims while racing. As a result, some insurance companies are getting out of insuring any boats that race. The New Hampshire Insurance Company underwrites the One Design Program and understands the racing risks. A higher deductible helps to keep premiums down by having the owner assume more of the risk while racing.
Do you charter your boat to other sailors?
Anyone can borrow your boat with your permission. However, if someone pays you to charter your boat, you need to buy charter coverage. The policy does not automatically include chartering. The One Design Policy offers two distinct types of charter coverage. Charter #1 is if you charter your boat to another person. Charter #2 is if you charter a boat, similar to the one insured, anywhere within your navigational territory. Charter #2 is great for international or cross country regattas. There is no limit to the number of times you can charter during the policy period.
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