Pleasure Boat Coverage
Insurance for private pleasure boats. Coverage is not standard, but is generally broken down into insurance for yachts, including sailboats; boats with inboard motors under marine policies; and outboard motor boats under inland marine policies. Yacht insurance, which is written on an ALL RISKS or a named peril basis, is broken down into hull insurance; bodily injury and property damage liability insurance; federal compensation insurance for crew members; and medical payments insurance. Outboard coverage insures a boat on land or in the water on an ALL RISKS or named peril basis.
Popular Insurance Terms
Protection against natural disasters that may strike crops. Coverage on all risks basis began in 1948 under the auspices of the U.S. Department of Agriculture. Premiums reflect actual ...
Financial incentives credited to the policy to encourage the policyowner to keep the policy in force. The incentives may be utilized by: (1) applying them to the policy cash value after a ...
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Model state law of the NAIC that requires that two interest adjusted cost indices must be illustrated within each life insurance policy issued: NET PAYMENTS INDEX; and SURRENDER COST INDEX. ...
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Protection in the event of accidental discharge, leakage, or overflow of water from plumbing systems, heating, air conditioning, and refrigerating systems, and rain or snow through broken ...
Method of selling insurance directly to insureds through a company's own employees, through the mail, or at airport booths. The company uses this method of distribution rather than ...
credit reflected on a ceding company's annual statement, showing reinsurance premiums ceded and losses recoverable from the reinsurer. ...
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