Personal marine & recreational vehicle: Markets abound

Rough Notes, Feb 1998 by Clapp, Wallace L Jr

The agency serves agents in most states. Underwriters include Cigna, Commercial Union, Premier Marine, Reliance, Royal and Wolverine.

First Premium Insurance Group, PO. Box 77, Covington, LA 70434-0077; (504) 892-7428; (800) 256-2171; fax: (504) 892-4282 (Richard W Jenkins, CIC). This specialty general agency writes boat programs through Markel American Insurance Co. which consists of a boatowners program, a small boat program, yacht and jet ski program. It also insures commercial boating ventures.

The boatowners program covers all types of pleasure boats, including inboards and outboards, inboard/outboard drive, jet boats, bass bats, jet skis, personal watercraft, sail boats, pontoon boats, houseboats, kayaks, rowboats, canoes and mini boats. Coverage is provided for the hull and equipment, personal effects and miscellaneous equipment, boat trailers, watercraft liability, waterskiing liability and medical payments. Maximum hull limits are $400,000 and maximum liability limit is $1 million. Maximum medical payments is $5,000. Personal watercraft are not written in this program. Boats that operate or are moored in coastal waters of NY and northern NJ are not written.

The jet ski/personal watercraft program provides hull and trailer, liability coverage and medical payments. Basic liability limits are $10/$20/$5 and can be extended to $300,000 csl. Hull coverage is written on an actual cash value basis. Policies are subject to a minimum $250 deductible. The agency solicits agents and brokers only in AR and LA.

Florida International Underwriters, 2300 Glades Rd., E. Tower, Ste. 135, Boca Raton, FL 33431-7335; (561) 392-1323; (800) 275-4348; fax: (561) 392-2995 (Colin Fellows). This marine insurance program manager provides a personal lines boatowners package policy and an ocean marine yacht insurance policy. Any size or value of boat is eligible. Maximum liability limits written are up to $5 million primary and $10 million excess. Hulls are valued at agreed value, actual cash value or replacement cost. A high performance boat program is offered. Marinas and personal watercraft are also written. The agency has an exclusive charter boat program. The office serves agents and brokers in all states. It also writes coverage in the Caribbean.

Keith R. Franson Insurance Services, 49430 Rd. 426, Ste. B., Oakhurst, CA 93644; (209) 642-4600; (800) 993-9398; fax: (209) 642-4633 (Keith R. Franson). This marine wholesale broker offers insurance facilities for yachts and small pleasure boats and marinas. The firm represents 10 marine carriers, including Commercial Union, Cigna, Maryland/Zurich and Reliance.

Limits vary between carriers, but for yachts and pleasure craft, the agency can write most risks from runabouts to mega yachts, with P&I limits available to $25 million on certain qualified yachts. The agency is licensed to write in AZ, CA, ID, NV, OR, UT and WA.

The firm also writes a program for yachts with owners living full-time on the vessel. This is available in all licensed states except WA.