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Commercial Watercraft Rental Insurance Application
Requested Effective Date: ___________
General Agent Code: _______ Producer Code: ______________
Producer Name & Address: ________________________________________
_________________________________________
Producer Phone Number: ______ _____ ____________
Fax Number: ______ _____ ____________
Additional Interests: _________________________________________
Relationship To Applicant: ____________________________________
Premium Finance Company: ______________________________________
Address: ________________________________________________________
Applicant Name: __________________________________________________
Mailing Address: __________________________________________________
City: _____________ State: ________________ Zip Code: _______________
Principal Contact: ___________________________ Title: ________________
Physical Address of Operation: (List All Locations including Mooring County and Phone
Number of each): ____________________________________________ ______________________________________________________________________________________________________________________________
Name and Address of Lienholder: __________________________________
_______________________________________________________________
State How Watercraft is Used for Operation: ________________________________________________________________________________________
What Is The Experience Of The Principals With This Type Of Operation?________________________________________________________________________________________________________________________________
Name of Organization: _____________________________________________
[ ] Individual (Sole Proprietorship)
[ ] Partnership
[ ] Corporation
[ ] Limited Liability Company
[ ] Joint Venture
[ ] Other
Operating Period Operating From
[ ] Year Round [ ] Marina
[ ] Seasonal [ ] Beach Front
From ______ to _______ [ ] Public Ramp [ ] Other
How Many Years Has Applicant Owned/Operated This Business? _____
How Many Years Has Applicant Operated From This Location? _____
Gross Receipts For This Operation Last Year $________________
Projected Gross Receipts For This Year $________________
List And Describe All Other Commercial Activities Conducted On The Premise, Whether
Owned Or Non-Owned: _____________________________________
If Owned, Is There Other Insurance In Force?
[ ] No [ ] Yes Explain:____________________________________
____________________________________
Previous Insurance Carrier: __________________________________________
Expiration Date: ___________
Has Any Company Ever Canceled Or Non-Renewed Insurance For This
Applicant? (Missouri residents Need Not Answer)
[ ] No [ ] Yes
Explain:__________________________________________________________ NAVIGATION LIMITS DESIRED & RANGE OF NAVIGATION
[ ] US INLAND RIVERS/WATERWAYS ONLY
[ ] COASTAL Up To 25 Miles Offshore
[ ] ATLANTIC PACIFIC GULF BAHAMAS
[ ] GREAT LAKES & TRIBUTARIES
[ ] LAKE MEAD, POWELL OR TAHOE
Extended Navigation Limits - NO BINDING AUTHORITY IS EXTENDED
Submit for approval with detailed boating experience resume, MVR and current survey.
Offshore navigation limit desired:
[ ] 25 – 50 MILES OFFSHORE
[ ] 50 – 75
[ ] 75 – 100
MOORING LOCATION OF VESSEL WHEN IN USE -- MARINA NAME (IF APPLICABLE),
ADDRESS, CITY, STATE, ZIP: ___________________________________
_______________________________________
OPERATING PERIOD:
[ ] YEAR ROUND
[ ] SEASONAL
LAY-UP LOCATION WHEN NOT IN USE -- MARINA NAME (IF APPLICABLE),
ADDRESS, CITY, STATE, ZIP: ___________________________________
_______________________________________
TYPE OF LAY-UP:
[ ] Ashore
[ ] Afloat
WHEN NOT IN USE, VESSEL IS:
[ ] Ashore
[ ] Afloat
(NO LAYUP CREDIT ALLOWED IF AFLOAT)
WARRANTED ON SHORE LAY-UP PERIOD (MM/DD/YY) FROM: __________
TO: _______________
FIVE YEAR CLAIMS HISTORY - WATERCRAFT & PREMISES
Date Of Event: ___________________
Details Of Loss Or Claim: ________________________________________ _____________________________________________
Amount Of Claim: ______________________
Status: _____________________________________________________
Date Of Event: ___________________
Details Of Loss Or Claim: ________________________________________ _____________________________________________
Amount Of Claim: ______________________
Status: _____________________________________________________
How Many Years Has The Applicant Been Doing Business As A Rental Operation? ______________
If A New Venture, List Any Previous Watercraft Rental Experience If Applicable:____________________________________________________________________________________________________________________________
Please Provide All Other Names That This Business Has Operated Under:__________________________________________________________________________________________________________________________________________________________________________________________
Who Is Responsible For Overseeing The Watercraft Rental Operations?
Name: ___________________________________________________
Title: ______________________________
Date Of Birth: _______________________
Number Of Rental Operation Employees: ________________
Employees and Ages:__________________________________________________________________________________________________________________ _________________________________________________________ _________________________________________________________
Are Employees Trained In First Aid, CPR, Etc.?
[ ] No [ ] Yes
Explain:__________________________________________________________
Describe How Renters Are Screened: __________________________________________________________________________________________________
How Old Must A Person Be To Rent The Watercraft? _____________
How Is Renter Age Verified? ________________________________________
What Type Of Instruction Is Provided To Each Renter? ____________________ ________________________________________________________________
Who Provides The Instruction? ___________________________________
Are Renters Allowed To Trailer Units To Other Locations?
[ ] No [ ] Yes
Explain:__________________________________________________________
Does Insured/Owner Trailer Units To Other Locations?
[ ] No [ ] Yes
Explain:__________________________________________________________
What Navigation Limits Are Placed On The Renter? (Body Of Water And Range Of
Navigation): _________________________________________________
How Is Each Rental Supervised And Assisted If Help Is Required?_____________________________________________________
Is Swimming, Snorkeling, SCUBA Or Diving Allowed From Vessels?
[ ] No [ ] Yes
Explain:__________________________________________________________
Will Any Person Besides The Contracted Renter Be Allowed To Operate The Vessel?
[ ] No [ ] Yes
Explain:__________________________________________________________
Are Renters Allowed To Tow Water-Skiers Or Water Toys?
[ ] No [ ] Yes
Explain:__________________________________________________________
Does Applicant Supply The Tow Rope, Skis Or Water Toys?
[ ] No [ ] Yes
Explain:__________________________________________________________
Where Are Vessels Kept When Not In Use? _____________________________
How Are Vessels Secured Against Theft? _____________________________
How Long Are Rental Agreements Kept On File? _________________________
Does Applicant Keep Records Of Vessel Maintenance? ____________
Does Applicant Or Any Employee Operate The Watercraft In The Course of
Employment?
[ ] No [ ] Yes
Explain:__________________________________________________________
Does Applicant Or Any Employee Use The Watercraft For Personal Pleasure?
[ ] No [ ] Yes
Explain:__________________________________________________________
Remarks: _________________________________________________________
To bind coverage the following information must be provided and be deemed
acceptable:
[ ] A copy of the current Rental Agreement.
[ ] A copy of Check out or Renter training procedures.
[ ] A complete schedule of all vessels including the lengths of all vessels as well as the serial numbers for each vessel, motor and trailer.
[ ] If requesting $1million liability limits, please supply 3-5 years of loss runs
NOTE: Coverage will not be bound without an acceptable rental agreement,
checkout procedures and a complete vessel schedule on file.
COVERAGES AND PREMIUMS
WATERCRAFT AND EQUIPMENT (Total of Hull Values from Schedule)
COVERAGE: __________________________________________________
LIMITS REQUESTED: __________________________________________
DEDUCTIBLE: (Minimum $1000 Deductible) ________________________
PREMIUM: ______________________________________________
WATERCRAFT LIABILITY COVERAGE: __________________________________________________
LIMITS REQUESTED: __________________________________________
DEDUCTIBLE: ($1000 Deductible) ________________________
PREMIUM: ______________________________________________
WATERSPORTS LIABILITY COVERAGE: __________________________________________________
LIMITS REQUESTED: __________________________________________
DEDUCTIBLE: ________________________
PREMIUM: ______________________________________________
PREMISES LIABILITY (SUBMIT PREMISES APP.) COVERAGE: __________________________________________________
LIMITS REQUESTED: __________________________________________
DEDUCTIBLE: ________________________
PREMIUM: ______________________________________________
TRAILER PHYSICAL DAMAGE COVERAGE: __________________________________________________
LIMITS REQUESTED: __________________________________________
DEDUCTIBLE: $25.00
PREMIUM: ______________________________________________
PAYMENT OPTIONS
[ ] TOTAL ANNUAL PREMIUM ($5 FEE PER INSTALLMENT) ________________
[ ] 3 PAY PLAN (40% DOWN, 30% DUE IN 60 DAYS, 30% DUE IN 150 DAYS.
WRITTEN PREMIUM MUST BE GREATER THAN $750).
[ ] 6 PAY PLAN (35% DOWN, 15% DUE IN 60, 90, 120, AND 10% DUE IN
150 AND 180 DAYS). WRITTEN PREMIUM MUST BE GREATER THAN $1,500
$1,000 MINIMUM EARNED PREMIUM
$1,000 MINIMUM WRITTEN PREMIUM
$1,000 MINIMUM DEDUCTIBLE APPLICANT’S STATEMENT AND SIGNATURE
This notice is given in compliance with the Federal Fair Credit Reporting Act (Public
Law 91-508) and the Consumer Credit Reform Act of 1996. I understand that as part of
the Company’s underwriting procedure, a routine inquiry may be made which will
provide applicable information concerning character, general reputation, personal
characteristics, mode of living and driving record. Upon written request, additional
information as to the scope of the report, if one is made, will be provided.
I have read this application and the entries on it. I understand that if my
watercraft is used in any official or pre-arranged race, contest or event or is
being held for sale, that this type of usage will void the obligation of the Company to
cover any claims that might occur. I understand that if an ACV policy is purchased, the
maximum limit for hull coverage is the actual cash value (ACV) at the time of the loss or
the stated ACV above, whichever is less.
The foregoing statements made and signed by the owner(s) represents the information
set forth as correct and a true basis on which insurance may be granted but in no way
binds the applicant to accept quotation or insurers to accept risk.
FRAUD WARNING: It is a crime to knowingly provide false, incomplete or
misleading information to an insurance company for the purpose of defrauding
the company. Penalties include imprisonment, fines, and denial of insurance
benefits. Your state may have specific warnings against filing false claim
information.
AZ For your protection Arizona law requires the following statement to appear on this form. Any person who knowingly presents a false or fraudulent claim for payment
of a loss is subject to criminal and civil penalties.
CA For your protection California law requires the following to appear on this form: Any person who knowingly presents false or fraudulent claim for the payment of
a loss is guilty of a crime and may be subject to fines and confinement in state
prison.
NY Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement
of claim containing any materially false information, or conceals for the purpose
of misleading, information concerning any fact material thereto, commits a
fraudulent insurance act, which is a crime, and shall also be subject to a civil
penalty not to exceed $_____________ and the stated value of the claim for
each such violation.
OR Any person who knowingly presents a false or fraudulent claim for the payment of a loss is guilty of a crime and may be subject to fines and
confinement in state prison.
PA Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement
of a claim containing any materially false information or conceals for the purpose
of misleading, information concerning any fact material thereto commits a
fraudulent insurance act, which is a crime and subjects such person to criminal
and civil penalties.
APPLICANT’S SIGNATURE: _________________________________________
DATE: ____________
PRODUCER’S SIGNATURE: ________________________________________________
DATE: ___________
TITLE (REQUIRED IF BOAT IS CORPORATELY TITLED)
HOW LONG HAS THIS APPLICANT BEEN YOUR CLIENT? ___________
COMMERCIAL MARINE RENTAL WATERCRAFT VESSEL SCHEDULE
UNIT ___________________________________________________________
YEAR ______________
MAKE AND MODEL _______________________________________________________
LENGTH _______________________________________________________________
HULL ID # (12 DIGITS) _________________________________________
ENGINE ______________________________________________________________
YEAR/MAKE __________________________________________________________
ENGINE SERIAL # ______________________________________________________
TOTAL HP ___________________________________________________________
MAX. SPEED __________________________________________________________
ACV1
VALUE ____________________________________________________________
LIEN HOLDER NAME & ADDRESS: ______________________________________________________________________________________________________________
UNITS OF INTEREST _______________________________________________
LIEN HOLDER NAME & ADDRESS: _________________________________________ _____________________________________________________________________
UNITS OF INTEREST _______________________________________________
This vessel schedule is attached to and becomes part of the policy upon Company
acceptance. All units must be identified and listed on the schedule in order to be
covered under the policy. Additions or deletions to this schedule must be reported to the
Company within 30 days of the change. List all outboard engines with the associated
vessel.
1 Actual Cash Value
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