Boat & Water Craft Insurance

Coverage Options
The 1 Preferred Place boat policy was specially created for power boats, small sailboats and other vessels. Make sure that your boat has the specialized coverage you just can't get by adding it to your homeowner's policy.

Important Coverage
For real peace of mind as you're out on the water, you need a policy that provides a wide range of coverage. These coverage should include:

Physical Damage
Increased limits on Liability
Medical Payments
Uninsured Watercraft
Total Loss Replacement Option
Personal Property
Towing and Assistance
Trailer coverage

Broad Eligibility
A 1 Preferred Place policy will cover a wide range of boats - sail and power, inboard, outboard, inboard-outdrive and jet drive. Just about any make or model of boat can be covered under this program.

Settlement Methods
For extra coverage on the water, and because not everyone's wants are the same, a 1 Preferred Place policy offers a variety of options, such as:

Agreed Value Hull Coverage. 1 Preferred Place will cover your boat for an agreed amount. That means we will pay the amount of insurance if you have a total loss. This gives you an added measure of protection.
Optional Actual Cash Value Hull Coverage. If you'd prefer a 10% reduction in your hull premium, 1 Preferred Place can settle losses on an actual cash value basis. You choose the coverage you want and the premium option that works for you.
Total Loss Settlement Endorsement. Will pay up to 20% more than the amount of insurance to replace a covered watercraft. And it only costs $10! The endorsement must be added to the policy no later than one year after the watercraft's model year. Eligibility continues during the five years following the model year, provided it is successively renewed with the policy.

Water Craft Insurance

Coverage Options
It's a common myth that your personal watercraft is adequately covered under your homeowner's or renter's policy. In most cases, you need additional coverage. A 1 Preferred Place insurance policy, on the other hand, can give you more security and more value for your money.

Important Coverage
For real peace of mind as you're out on the water, you need a policy that provides a wide range of coverage. These coverage should include:

Physical Damage
Liability
Wreck Removal
Pollution Liability Coverage
Watersports Liability
Medical Payments Coverage primary

Optional Coverage
For extra protection, and because not everyone's needs are the same, 1 Preferred Place offers a variety of coverage options:

Increased limits on Liability
Uninsured Watercraft
Accessory Coverage
Personal Property
Towing and Assistance
Trailer Coverage
Liability-Only

Broad Eligibility
A 1 Preferred Place policy will cover almost all makes and models of personal watercraft. And 1 Preferred Place also has a specialized program for boats.