Boat Insurance Policy

BOAT INSURANCE POLICY

This Boat Insurance Policy (the Policy) is issued by the Insurer to the Insured named below and sets forth the coverages, limits, deductibles, exclusions, conditions and obligations that apply to the insured vessel and operations described herein. The Insurer agrees, subject to the terms and conditions of this Policy, to provide the insurance coverages selected by the Insured for the policy period stated below.

Parties and Identification

Date of Birth:    Contact Phone:    Email:

Vessel Description

Year:    Length:    Engine (type/HP):

Policy Details

Policy Number:    Agent / Broker:

Effective Date:    Expiration Date:    Policy Period:

Hull (Physical Damage)    Liability (Bodily Injury & Property Damage)    Personal Effects    Towing and Assistance    Medical Payments    Uninsured/Underinsured Boater

Deductible:    Annual Premium:

Insuring Agreement and Coverage Conditions

Insuring Agreement — Subject to the terms, exclusions, conditions and endorsements of this Policy and in consideration of the premium paid, the Insurer will pay sums that the Insured becomes legally obligated to pay because of liability arising out of ownership, maintenance or use of the insured vessel and will pay for direct physical loss to the insured vessel up to the applicable limits and subject to the deductible. Coverage applies only to risks occurring during the policy period shown above and within the territorial limits specified in this Policy.

Conditions — Coverage is conditioned upon timely premium payment, truthful and complete application information, compliance with safety and navigation requirements set forth in endorsements, and notification to the Insurer of any material change in use, ownership, or vessel condition. The Insurer may require an inspection, survey or surveyor's report as a condition precedent to certain coverages.

Exclusions (Representative)

The following are examples of exclusions under this Policy unless an endorsement specifically provides otherwise: (a) loss or liability arising from intentional acts, willful misconduct, or the commission of a criminal act by the Insured or operator; (b) wear, deterioration, gradual deterioration, rust, corrosion, rot, marine growth or mechanical breakdown absent direct physical loss from a covered peril; (c) use of the vessel for commercial chartering, rental or carrying passengers for hire unless specifically endorsed; (d) loss resulting from operation by a person under the influence of alcohol or drugs in violation of applicable law; (e) war, nuclear hazard, and governmental seizure.

The Insured acknowledges receipt of and acceptance of these standard exclusions applicable to the coverages selected.

Acknowledgement of Exclusions: I have read and acknowledge the exclusions above.

Beneficiary / Loss Payee

Loss Payee / Mortgagee Name:

Relationship to Insured:    Payment Allocation Percentage:

Duties After Loss and Claims Procedures

The Insured must: (a) give prompt notice to the Insurer of any occurrence likely to give rise to a claim; (b) protect the vessel from further damage and take reasonable steps to mitigate loss; (c) provide the Insurer with all documentation and proofs of loss requested; (d) cooperate with the Insurer in the investigation and defense of any claim; and (e) not admit liability or make settlement offers without the Insurer's written consent.

Claim Intake Snapshot (For Reference)

Premium Payment, Cancellation and Endorsements

Premium Payment — The premium stated above is due as provided in the policy declarations. Failure to pay premium when due may result in cancellation of coverage subject to the notice requirements set forth in the Policy.

Cancellation — The Insurer may cancel this Policy for nonpayment of premium or for material misrepresentation as permitted by law. The Insured may cancel the Policy by providing written notice to the Insurer. Any return premium due will be calculated in accordance with the Insurer's customary short-rate or pro-rata provisions as applicable.

Endorsements — This Policy may be amended only by written endorsement issued by the Insurer and attached hereto. Any verbal modifications are void.

Subrogation, Salvage and Dispute Resolution

Subrogation — To the extent the Insurer pays for a loss, the Insurer shall be subrogated to all rights of recovery of the Insured against any third party. The Insured shall execute and deliver all necessary instruments and do whatever else is necessary to secure such rights.

Salvage — In the event of a physical loss, the Insurer may take or retain salvage. Payment for loss may be reduced by salvage retained by the Insurer if such salvage has reasonably ascertainable value.

Dispute Resolution — Disputes under this Policy shall be resolved as provided in the arbitration or jurisdiction clause endorsements attached to this Policy. If no such endorsement applies, disputes shall be subject to the applicable law of the state specified in the Policy declarations.

Declarations and Certification

By signing below, the Insured certifies that the information contained in the application and specified in this Policy is true and complete to the best of the Insured's knowledge. The Insured agrees that this Policy, including the application and any endorsements, constitutes the entire agreement between the parties with respect to the coverages provided.

The Insured further certifies that any person who operates the insured vessel holds the requisite license, if required by law, and that the vessel will not be used in a manner inconsistent with the coverages purchased unless an endorsement is issued by the Insurer.

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