Two insurance companies expand boat coverage

SAN DIEGO – Fireman's Fund Insurance Co. and Markel American Insurance have each enhanced their boat coverage programs in recent days.

Fireman’s Fund has enhanced coverage for yachts to protect against uninsured/underinsured vessels, vermin damage, contents onboard and an electronics deductible, the Insurance Journal reported in a story on its Web site today.

The company also announced a lower electronics deductible, expanded coral reef and sea grass coverage, and protection in cases of total loss resulting from vermin damage.

Markel American Insurance Company has released its enhanced Markel Helmsman Yacht Insurance program that provides coverage for boats with lengths of 26 feet and over, the Insurance Business Review reported in a story on its Web site yesterday.

According to the company, a Markel Helmsman Yacht policy provides agreed value total loss coverage for the boat with other options available. It also includes the following at no additional charge: protect and recover in addition to and equal to the hull limit; personal effects coverage; emergency towing and assistance; and protection and indemnity.

“Our experience insuring yachts positions us to deliver preferred coverage at a fair price,” said Timberlee Grove, president and COO of Markel American Insurance. “We believe that as a market leader in yacht insurance we are well equipped to look out for the best interest of the yacht owner.”

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