Fireman’s Fund Insurance Co. has enhanced coverages for yachts to protect against uninsured/underinsured vessels, vermin damage, contents onboard and an electronics deductible. The company also announced a lower electronics deductible, expanded coral reef and sea grass coverage, and protection in case of total loss resulting from vermin damage.
Vermin damage is of particular concern in the Pacific Northwest, where muskrats and otters have been known to chew through exposed rubber portions of engine exhausts, the company explained. Other additions to Fireman’s Fund’s coverage include protection against damage to mopeds, scooters, passports, and other necessary forms of identification while they are onboard.
This is a complement to the existing policies that already feature agreed value (to protect against depreciation), coverage for captain and crew under Admiralty Law including the Jones Act, protection against pollution fines up to $25,000 including “sudden and accidental” events, and a broad definition of personal effects.
The enhanced coverages are designed to position the company as a market leader with its Prestige Yacht and Watercraft policies, the company said.
For more information, visit www.firemansfund.com.
Was this article valuable?
Here are more articles you may enjoy.
CBIZ Brokerage to Be Spun Off, Backed by Private Equity, After $5B Grant Thornton Deal 
AM Best Calls $1.54 Billion Mapfre-Safety Marriage ‘Strategically Compelling’ 
Trump’s Diversity Crackdown Reverberates Through US Boardrooms 
Why El Niño’s Promise of Quieter Hurricane Season May Not Be Good News for Insurers 
