If you’ve been getting the fever to get your boat out on the open waters, it may be a good time to evaluate your current insurance policy. Two insurance companies have recently restructured their coverage for recreational boat enthusiasts. BoatU.S insurance company and CNA insurance company have added benefits to policies for boaters.
Boat Owners Association of the United States (BoatU.S.) has been insuring the boating community for over 40 years, and currently has over half a million members. Richard Schwartz started the company in 1964. In 1966 Dick Ellison joined with Schwartz as they launched the business, and began lobbying congress on behalf of boaters nationwide.
BoatU.S. is responsible for a majority of the boating safety programs, regulation over boat manufacturers, and hundreds of other safety, educational and environmental programs. Additionally, they were also responsible for the repeal of the Federal Boat “user fee” Tax in 1991, saving boaters over 600 million dollars.
BoatU.S. insurance offers coverage for boats, yachts, and other marine equipment, as well as towing services, financing, and discounts on fuel, transient slips, repairs and more. A new addition to their policies is the “Diminishing Deductibles” program. Each year you are claim-free, take 25 percent off of your deductible at renewal time.
CNA insurance company has been providing service to various businesses and professionals since 1897. They are currently the 7th largest U.S commercial insurer, and the 13th largest U.S. provider of property and casualty insurance.
CNA pride themselves on their large selection of tailored plans, which enables them to offer insurance solutions to companies of any size. They offer insurance solutions by industry, or by tailored plans. Their Marine coverage includes cargo, hull, primary and excess liabilities, boat dealers and marine operators, yachts and specialty ocean marine coverage.
They also offer Inland Marine coverage, for contractor’s equipment, builder’s risk, and medical and scientific equipment. CNA is the leading ocean marine insurer in North America and writes coverage for most of the classes of Inland Marine business; with the capacity to write limits up to 100 million or more.