Boat Dealers Coverage
Physical Damage coverage for new and used boats, trailers, engines and accessories owned by the insured and held for sale
Average Monthly Inventory
This is the primary rating basis for boat dealers coverage rather than the boat dealer limit. Total the month end values for the year and divide by 12 for your average monthly inventory.
Title Errors & Omissions (Title E&O)
Coverage for financial loss caused by or resulting from an uncorrectable error or omission in the execution of title registration papers for watercraft which causes improper identification or non-identification of the mortgagee or legal owner.
Title Recovery Expense
Coverage for costs incurred to obtain a title of ownership when the insured purchases or acquires property in good faith from an individual or company who falsely represented to have legal title to that property at the time of purchase or acquisition.
Truth in Lending
Coverage for an unintentional act, error or omission which results in failure to comply with the Truth in Lending Act or any similar Federal or State Consumer Credit Act.
Coverage for voluntarily parting with covered property when induced to do so at the time of a test drive or sale by a false trick, scheme or device.
Boat Dealers Protection & Indemnity
Provides coverage specifically for a boat dealer while on the water demonstrating a boat with a potential customer.