This program provides “risk type” coverage on yachts and associated equipment. The coverages are

incorporated into one form, including both physical damage and liability.

The coverage territory consists of the waters of the Great Lakes and tributaries thereto, including the St.

Lawrence River and tributaries not below Quebec City and inland waters of New York State, including the

Hudson River, not below the George Washington Bridge.

Coverages for areas outside of this region maybe secured, but must have underwriting approval, in writing,

prior to the departure.

ELIGIBILITY

All applications are to be submitted unbound.

Eligible Yacht

• Privately owned and registered in Michigan

• Used only for pleasure

• 28 feet or more in length

• Valued between $35,000 and $500,000

• Insured for 100% of its market value

• Not capable of speeds in excess of 50 mph

• The principal operator 21 years or older, with a good driving record

• The vessel is 10 years old or less

• One that has not been cancelled or rejected by another company

• No at fault liability losses in the last 5 years

• No physical damage losses in the last 5 years

Yachts that do not meet all, but most, of the above guidelines may well be acceptable. Submit

quote request form or application for consideration.

Not Eligible

• Yachts that are not seaworthy

• Hydroplanes

• Any race craft other than sailboats

• Yachts rented to others

• Homemade yachts, unless certified to be ABYC

• Yachts with ferro-cement hulls

PHYSICAL DAMAGES

• Total Losses of the yacht are paid at the Agreed Value.

• Partial Losses are covered at Replacement Cost, up to the policy limit for the type of property

involved, except for the following items that are at Actual Cash Value:

o Sails

o Protective covers and enclosures consisting of fabric or similar materials

o Outboard motors, out drive units, engines and transmissions over 5 years old; or

o Dinghies or tenders over 5 years old

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BUILT IN COVERAGES

Auxiliary Equipment

• $5,000 in coverage

• Can be increased by $1,000 increments, at $15 per $1,000

Personal Property

• Property kept on board for pleasure or convenience associated to the yacht

• Includes not just the property of the yacht owner, but also the property of his/her guests

• $2,500 in coverage

• Can be increased by $500 increments, at $7.50 per $500

Trailers

• $1,500 in coverage

• Can be increased if specifically insured

• Loss involving only the trailer has a $250 deductible

Newly Purchased Yacht

• A yacht acquired during the policy period is covered for 15 days at lesser of the actual cash

value or purchase price

Emergency Assistance

• Up to $2,500 for emergency service to service the yacht, motor or trailer including towing,

delivery of fuel or batteries, road trouble service, up to 2 hours of mechanic’s labor at the

place of breakdown

• No deductible applies to this coverage

• Coverage can be increased to $5,000 at a cost of $25

Emergency Travel

• Up to $500 for the insured’s travel home or to a point of embarkment due to damage to or

the breakdown of the covered boat or motor or due to unsafe weather which persists for

48 hours

• No deductible applies to this coverage

Salvage

• Coverage is provided up to 90% of the insured value of the yacht if someone who saves it

from a peril places a salvage claim against the yacht

LIABILITY COVERAGE

Available Liability Limits

Limit 28’- 40’ 41’- 50’ 51’- Over

$100,000 $155 $165 $185

$300,000 $175 $190 $210

$500,000 $195 $215 $235

$1,000,000 * $300 * $330 * $360

*Requires prior underwriting approval

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Medical Payments

• $5,000 of coverage is automatically included

Increased Coverage Additional Premium Amount

$10,000 $20

$25,000 $40

Uninsured Boaters’ Coverage

• $25,000 of coverage is automatically included

Increased Coverage Additional Premium Amount

$50,000 $15

$100,000 $20

$300,000 $30

$500,000 $40

Pollution Liability

• Provides up to $300,000 ($100,000 when $100,000 Liability limit is selected) in coverage

for clean up associated to discharged pollutants from the boat

• This is not an additional amount of coverage and does not cover fines or civil penalties

Non-Owned Watercraft

• Extends the liability coverage (not medical payments) to a watercraft that the insured is

using with the owner’s permission

• This does not increase the liability limit

• Coverage applies to the non-owned watercraft itself up to $100,000 subject to a $1,000

deductible (this coverage excludes personal watercraft)

Removal of Wreck

• An additional $50,000 to remove or destroy the wreck is automatically present. This

expense only applies if the physical damage supplemental coverage for salvage is

exhausted.

AVAILABLE ADDITIONAL COVERAGES

Charter Use – Form YT-6 – Fishing or cruising charters for up to 6 passengers.

Coverage Amount Additional Premium

$100,000 $110

$300,000 $220

$500,000 $330

$1,000,000 * $550

*Requires underwriter’s approval

Contact underwriter for list of documents required in addition to application.

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Depreciation Buster Endorsement

Form YT-1 provides for depreciation on repairs to engines, transmission, outdrive units and

outboard motors once they are 6 years old or more. Form YT-9 Depreciation Buster eliminates this

depreciation. It is available on boats aged 6 through 20 years.

The additional premium is:

Single engine $35

Twin engine $50 includes boats with 2 outboard motors of different size

Deductibles are based on the covered amount on the yacht

• ½%

• 1%

• 1 ½%

• 2%

• 3%

• A $250 deductible always applies for claims under the Auxiliary Equipment and Personal

Property and for a loss to only a covered trailer

• No deductible is applied for claims filed under Emergency Services or Emergency Travel

CREDITS/SURCHARGES

The credits have been limited to 50%

CREDITS

10% Credits for Each

• Multiple policies with Fremont Insurance Company

• A member of a qualifying group (limited to one)

o USCG Auxiliary or USPS group discount

o Public safety (police, firefighters, etc.)

o U.S. Coast Guard licensed captains

o AARP

o MEA

o Yacht or boat club (3 consecutive years required)

o MBIA (Michigan Boating Industries Association) members and their employees

o Active or retired military including VFW life members

o Fremont Insurance Company employees and agency staff

7% Credit for

• Completed U.S. Coast Guard Auxiliary or U.S. Power Squadron boating safety course within

the last 10 years (copy of certificate) or equivalent

Additional Applicable Credits

• 6% for radar

• 5% VHF radiotelephone, Loran / GPS navigation system and depth finder (not each)

• 4% built in automatic engine compartment fire extinguisher system

• 3% diesel power

• 3% bow thruster

• 3% Senior discount, age 50 or more (not in addition to the AARP credit)

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Insurance Score Discount

• 3% for a score of 650 – 699 (Preferred)

• 10% for a score of 700 – 749 (Super Preferred)

• 15% for a score of 750 – higher (Ultra Preferred)

Claims Free Discount

• 2% for each year claims free with Fremont, a limit of 10% applies

Territory Multipliers

If the boat is docked/stored in the following counties, the associated multiple applies:

• Macomb County 1.15

• Monroe County 1.05

• Wayne County 1.05

• St. Clair County 1.05

• Muskegon County 1.03

• Ottawa County 1.03

• Remainder of State 1.00

The base premium assumes the yacht is in the Great Lakes territory year round. For additional

territories, please refer to the manual for a calculation chart.

SURCHARGES

Hull Materials

• 10% Wooden, boat over 10 years old

• 25% Wooden, boat over 15 years old

• 50% Wooden, boat over 20 years old

• 10% Metal or Fiberglass, boat over 20 years old

• 25% Metal or Fiberglass, boat over 30 years old

Operator

• 20% Principal operator under 21 years old

MVR

Minor violations within the last two years

• 3 – 5%

• 4 – 10%

• 5 – 30%

• 6 or more – Ineligible

Major violations within the last five years

• 1 – 40%

• 2 or more – Ineligible

At-fault accidents within the last three years

• 2 – 35%

• 3 or more – Ineligible

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Boat Speed

Surcharge for boat maximum rated speed

• 51-60 mph – 10%

• 61-70 mph – 25%

• 71-75 mph – 50%

• 75+ mph – Ineligible

Others

• Up to 50% for previously cancelled for underwriting or claims

Lay-up period change

The yacht is rated with the assumption of a standard 4-month lay-up period, 12/1 to 4/1. If the unit

is laid up for longer than this period, credits can be considered.

If the unit is going to be laid up for less time, an additional premium will be applied as follows;

Time Additional Premium Charge

• 3 month lay-up .05

• 2 month lay-up .10

• 1 month lay-up .15

• 0 month lay-up .20

There is not a maximum total surcharge. Applied surcharges apply only to the physical damage

premium.

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