The BCYBA and Navis Marine Insurance Brokers have come together and are proud to be able to offer a unique group insurance product exclusive to BCYBA members. As a Yacht Dealer and/orYacht Broker, you are faced with many different insurance exposures which may require even more individual insurance policies. Traditionally, in order to provide comprehensive insurance coverage that properly protected your business, eight or more individual insurance policies may be required; all intertwined like a jigsaw puzzle.
Common exposures and corresponding insurance policies related to Yacht Dealers and Yacht Brokers:
- General Liability – Commercial General Liability Policy
- General Property – Commercial Property Policy
- Errors & Omissions – Not easy to obtain for Boat Dealers/Brokers
- Care, Custody & Control of Non Owned Vessels– Boat Broker Physical Damage Liability
- Repair Work / Commissioning – Ship Repairers Legal Liability
- Moorage Operations / Leased Moorage– Marina Operators Legal Liability
- Dealer Inventory – Boat Dealer
- Watercraft Liability – Protection & Indemnity Insurance
This method often leads to increased premium costs and gaps in coverage.
The One Policy Solution
In conjunction with Travelers Insurance Company, the BCYBA and Navis Marine Insurance Brokers have come up with a “One Policy Solution”. The one policy solution allows you to select the coverages applicable to your individual dealer or broker needs and have all the coverage under one policy.
- One Policy form covering all exposures with one insurance company, Travelers – St. Paul Fire and Marine Insurance Company which is A+ Rated
- Eliminates any gaps in coverage
- Errors & Omissions Coverage available
- Simplicity of claims & Underwriting
- Very competitive pricing
As an exclusive benefit to BCYBA members, please call or email Navis Marine Insurance Brokersfor more information and a “no obligation” quotation.