Travelers Introduces Hybrid Boat and Yacht Insurance Discount

Travelers Insurance recently announced that it is now offering a new product for hybrid boats and yachts.

According to the Travelers release, the marine industry has responded to consumer demands for efficiency with new technology and hybrid powerboats fully capable of delivering the performance most boaters expect. Hybrid boats allow the operator to utilize electric propulsion at low speeds to minimize or eliminate emissions and fuel consumption. However, hybrid powered boats can generate the horsepower needed to reach higher speeds with the internal combustion engine.

“Hybrid vessels are using the latest, state-of-the-art technology in the marine industry,” said Chantal Cyr, vice president of the Boat and Yacht Division for Travelers. “Travelers closely follows the newest developments in boating so we can deliver the best marine insurance products and services to meet customers’ evolving needs.”

Recently, various highly regarded manufacturers in the marine industry have introduced their versions of hybrid boats to the marketplace. The Hinckley Company offers a hybrid power option for customers interested in its DS42 model, Scout Boats launched a hybrid model in late 2007, Frauscher Bootswerft introduced its hybrid to the U. S. in May 2008 and the Island Pilot DSe Hybrid will make its debut at the 2008 Fort Lauderdale Boat Show.

Steyr Motors, which powers the Frauscher vessels, markets its hybrid engine as the “world’s first serial hybrid propulsion system for pleasure boats.” In addition, other large production manufacturers are reportedly researching hybrid propulsion and developing prototypes to include in their lineup of boats.

“Travelers marine specialists thoroughly reviewed the functionality and operation of hybrid boats currently in the marketplace,” said Cyr. “Our research suggests boat manufacturers will begin incorporating hybrid designs into different models to provide a hybrid option similar to what’s taking place in the automotive industry.”

A hybrid boat is specifically designed to reduce greenhouse gas emissions and to conserve fossil fuels in comparison to the typical gasoline or diesel only powered boats. Travelers defines a hybrid boat as one that utilizes an integrated propulsion system that incorporates both an internal combustion engine and an electric motor in its original design. In this system, forward propulsion can be accomplished with the use of the electric motor with or without the use of the internal combustion engine.

Travelers credits itself as the first insurance company to deliver a national hybrid auto insurance discount, as well as the first to offer an insurance discount to electric boat owners.

For more information on the hybrid boat insurance discount, visit www.travelers.com.

Source: Travelers