Fireman’s Fund Launches High-Value Yacht Policy

Fireman’s Fund Insurance Company has launched a new high-end policy for personal yachts that covers yachts, along with captain and crew, typically valued over $1 million. The new policy, Prestige Yacht, is immediately available in every state.

“Fireman’s Fund’s Prestige Yacht policy further enhances our total Prestige Portfolio, which is specifically designed for affluent individuals who are looking for customized personal insurance plans,” said Bob Courtemanche, president, Fireman’s Fund Personal Insurance.

Yacht Policy highlights include:

* Navigation Limits – Extended territorial coverage available beyond the United States, Mexico and Canadian waters.

* Paid Crew Liability – Liability coverage for captain and crew.

*Charter Coverage – Protection and indemnity coverages apply for policyholders that choose to charter their yacht.

* Loss Payment – Deductible is waived for total loss (non-hurricane related).

* Temporary Substitute Coverage – Available when vessel is out of service due to breakdown or repair (loaner yacht will be a similar vessel).

* Personal Effects Coverage – Captain and guest property, including works of fine art.

All claims under this policy will be handled by a select group of expert marine adjusters.

“With Prestige Yacht, agents no longer have to refer yacht coverage to specialty markets. Now, yachts can be included as part of a policyholder’s complete personal insurance portfolio,” explained Courtemanche.

Source: Fireman’s Fund