B.P. Cummings
Insurance Agency
Are your financial roots protected?
Insurance Agency
Are your financial roots protected?
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Watercraft Coverages:
(Listed Alphabetically)
Bodily Injury & Property Damage (BI/PD) coverage:
Pays when an insured person is legally liable for bodily injury (including death) caused by
your watercraft or your operation of most non-owned watercraft. This coverage also pays
for your legal defense if you are sued.
Common Exclusions: No coverage for (1) bodily injury or property damage when the
watercraft is used for commercial or business purposes; (2) liability assumed under a
contract; (3) bodily injury to an employee; (4) bodily injury or property damage caused by an
intentional act; (5) property owned by, rented to, or in the charge of an insured person; (6)
bodily injury to you or relative; (7) bodily injury or property damage resulting from a
relative's use of a watercraft, other than a covered watercaft, owned by a person who
resides with you; or (8) bodily injury or property damage resulting from your operation or
use of a watercraft owned by you, other than a covered watercraft; (9) bodily injury or
property damage that occurs while the watercraft is being transported on land or because
the watercraft is not seaworthy; or (10) bodily injury or property damage resulting from
racing, or preparing for a race or stunting activity (except for sailboats in organized races).
Uninsured Boaters Bodily Injury (UB) coverage:
Protects you, your resident relatives, and occupants of a covered watercraft if any of these
people sustain bodily injury, including any resulting death, in an accident in which the
owner or operator of a watercraft that is legally liable does not have insurance.
Common Exclusions: No coverage for bodily injury sustained by any person while using or
occupying: (1) a covered watercaft while being used for commercial or business
purposes; (2) a covered watercraft without the permission of you or a relative; (3) a
non-owned watercraft without the permission of the owner; or (4) a watercraft in a race or
stunting activity or in preparation for such activity (except for sailboats in organized races).
Medical Payments (MED PAY) coverage:
Pays reasonable and necessary medical and funeral expenses resulting from a watercraft
accident. This coverage protects you, your resident relatives, and occupants of a covered
watercraft. These benefits are payable without regard to fault. Common Exclusions are
similar to those for Bodily Injury and Property Damage Coverage (see above).
Collision (COLL) coverage:
Pays for loss to your covered watercraft when it collides with another object. This coverage
is subject to a deductible.
Common Exclusions: No coverage for damages or loss: (1) to a watercraft while being
used for commercial or business purposes; (2) resulting from intentional acts: (3)
resulting from racing, or preparing for a race or stunting activity (except for sailboats in
organized races); or (4) to any personal property.
Comprehensive (COMP) coverage:
Pays for loss or damage to your covered watercraft caused by any event other than
collision. This includes damages due to events such as fire, theft, windstorm, flood, and
vandalism. This coverage is subject to a deductible.
Common Exclusions: No coverage for damages or loss: (1) to a watercraft while being
used for commercial or business purposes; (2) resulting from intentional acts: (3)
resulting from racing or preparing for a race or stunting activity (except for sailboats in
organized races); or (4) to any personal property.
Wreckage Removal Coverage:
Progressive will pay reasonable costs incurred by the insured for any attempted raising,
removal or destruction of the wreckage of an insured watercraft resulting from any loss for
which Comprehensive and Collision Coverage is provided. The limit of liability varies
based on whether or not the insured is legally required to raise, remove or destroy the
watercraft. See policy contract for details.
Common Exclusions: No coverage for damages or loss: (1) to a watercraft while being
used for commercial or business purposes; (2) resulting from intentional acts: (3)
resulting from racing or preparing for a race or stunting activity (except for sailboats in
organized races); or (4) to any personal property.
Physical Damage options:
Actual Cash Value: The actual cash value is determined by the market value, age, and
condition of the watercraft at the time of the loss. In the event of a total loss, this coverage
will pay the lower or the Actual Cash Value or the Watercraft Value. A current BUC Guide,
ABOS Blue Book, NADA Guide or a local dealer may be able to help determine the market
value.
Agreed Value: Pays the watercraft value in the event of a total loss regardless of the actual
cash value. On partial losses, there is no depreciation except for outdrive motors and units
greater than 5 years, batteries, sails, plastic and canvas coverings including all-weather
bridge and cockpit enclosures and dodgers or components of any of the preceding items.
Disappearing deductibles are included with Agreed Value coverage.
Agreed Value is available on all boats. For boats 2 years old or less, the sales receipt will
serve as the watercraft value. If a sales receipt is unavailable, the watercraft value may be
determined by looking at a BUC or ABOS guide. Every 3 years the watercraft value must be
updated by either a new marine survey or by referring to the BUC or ABOS guides.
Total Loss Replacement: Available on newly purchased watercraft up to one (1) model
year old. In the event of a total loss, this coverage replaces the current watercraft with a
new watercraft that is to the extent possible, the same make and model, and which
contains comparable equipment. For watercraft over five model years old, we will pay the
watercraft value. Total Loss Replacement Coverage requires a sales receipt to determine
the watercraft value. Disappearing Deductibles are included with Total Loss Replacement
Coverage.
Value of the Watercraft:
Value should include motor(s), permanent equipment, portable boating equipment
attached to or contained in the watercraft, and a trailer if you also want it insured.
Permanent equipment means equipment permanently installed on a covered watercraft
using bolts or brackets including slide out brackets. Permanent equipment includes but is
not limited to, permanently installed:
Ship-to-shore radios;
Depth finders;
Loran and GPS systems;
Fish finders;
Radar and sonar systems; and
Auxiliary trolling motors..
Portable boating equipment means detachable boating equipment customarily kept in or
on a covered watercraft for the maintenance or use of the watercraft. Portable boating
equipment includes, but is not limited to:
Anchors;
Oars;
Tarpaulins;
'Lights;
Fire extinguishers;
Extra fuel tanks;
Bilge pumps;
Portable cook stoves;
Safety and lifesaving equipment;
Deck chairs;
Water skis and other water sports equipment
Deductible:
The amount of each loss you agree to pay. Generally choosing a higher deductible will
lower your premium.
Disappearing Deductibles:
Some states may offer Disappearing Deductibles that provides a reduction in the
deductible amount the policyholder pays if Progressive does not pay a comprehensive or
collision claim. For each consecutive claim-free renewal, the original Comprehensive and
Collision Deductibles decrease by 25% until the fourth consecutive claim-free renewal at
which time they reach $0. Deductibles return to their original amounts once a
comprehensive or collision claim is paid.
Diminished Deductibles:
Some states may offer Diminished Deductibles that provides a reduction in the deductible
amount the policyholder pays if Progressive does not pay a comprehensive or collision
claim. For each consecutive claim-free renewal, the original Comprehensive and Collision
Deductibles decrease by 25% until the fourth consecutive claim-free renewal at which time
they reach $0. Deductibles return to their original amounts once a comprehensive or
collision claim is paid.
Personal Effects (PE) coverage:
Pays for loss of, or damage to, personal property while on board an insured watercraft or
while being carried on or off an insured watercraft. Personal Effects includes but is not
limited to; binoculars, cameras, CD players, cellular telephones, clothing, coolers, jewelry,
portable radios, scuba equipment, sunglasses, etc. Coverage is available up to $5,000.
$250 deductible for theft.
Fishing Equipment (FISHEQP) coverage:
This coverage pays for damage to fishing equipment while on board an insured watercraft
or while being carried on or off an insured watercraft.
On-Water Towing (TOW) coverage:
Pays for some towing or labor costs per occurrence as the result of a disablement while
the covered watercraft is afloat. Labor coverage applies only if it is performed at the time
and place of the disablement. No deductible applies. Available on Liability only policies
and when Roadside Assistance is selected.
Roadside Assistance (RD SIDE) coverage:
Pays for towing and labor costs due to disablement of your vehicle while it is towing your
pleasure boat or personal watercraft on land. (Included in Full Coverage policies for
pleasure boats and personal watercrafts with trailers.)
(Listed Alphabetically)
Bodily Injury & Property Damage (BI/PD) coverage:
Pays when an insured person is legally liable for bodily injury (including death) caused by
your watercraft or your operation of most non-owned watercraft. This coverage also pays
for your legal defense if you are sued.
Common Exclusions: No coverage for (1) bodily injury or property damage when the
watercraft is used for commercial or business purposes; (2) liability assumed under a
contract; (3) bodily injury to an employee; (4) bodily injury or property damage caused by an
intentional act; (5) property owned by, rented to, or in the charge of an insured person; (6)
bodily injury to you or relative; (7) bodily injury or property damage resulting from a
relative's use of a watercraft, other than a covered watercaft, owned by a person who
resides with you; or (8) bodily injury or property damage resulting from your operation or
use of a watercraft owned by you, other than a covered watercraft; (9) bodily injury or
property damage that occurs while the watercraft is being transported on land or because
the watercraft is not seaworthy; or (10) bodily injury or property damage resulting from
racing, or preparing for a race or stunting activity (except for sailboats in organized races).
Uninsured Boaters Bodily Injury (UB) coverage:
Protects you, your resident relatives, and occupants of a covered watercraft if any of these
people sustain bodily injury, including any resulting death, in an accident in which the
owner or operator of a watercraft that is legally liable does not have insurance.
Common Exclusions: No coverage for bodily injury sustained by any person while using or
occupying: (1) a covered watercaft while being used for commercial or business
purposes; (2) a covered watercraft without the permission of you or a relative; (3) a
non-owned watercraft without the permission of the owner; or (4) a watercraft in a race or
stunting activity or in preparation for such activity (except for sailboats in organized races).
Medical Payments (MED PAY) coverage:
Pays reasonable and necessary medical and funeral expenses resulting from a watercraft
accident. This coverage protects you, your resident relatives, and occupants of a covered
watercraft. These benefits are payable without regard to fault. Common Exclusions are
similar to those for Bodily Injury and Property Damage Coverage (see above).
Collision (COLL) coverage:
Pays for loss to your covered watercraft when it collides with another object. This coverage
is subject to a deductible.
Common Exclusions: No coverage for damages or loss: (1) to a watercraft while being
used for commercial or business purposes; (2) resulting from intentional acts: (3)
resulting from racing, or preparing for a race or stunting activity (except for sailboats in
organized races); or (4) to any personal property.
Comprehensive (COMP) coverage:
Pays for loss or damage to your covered watercraft caused by any event other than
collision. This includes damages due to events such as fire, theft, windstorm, flood, and
vandalism. This coverage is subject to a deductible.
Common Exclusions: No coverage for damages or loss: (1) to a watercraft while being
used for commercial or business purposes; (2) resulting from intentional acts: (3)
resulting from racing or preparing for a race or stunting activity (except for sailboats in
organized races); or (4) to any personal property.
Wreckage Removal Coverage:
Progressive will pay reasonable costs incurred by the insured for any attempted raising,
removal or destruction of the wreckage of an insured watercraft resulting from any loss for
which Comprehensive and Collision Coverage is provided. The limit of liability varies
based on whether or not the insured is legally required to raise, remove or destroy the
watercraft. See policy contract for details.
Common Exclusions: No coverage for damages or loss: (1) to a watercraft while being
used for commercial or business purposes; (2) resulting from intentional acts: (3)
resulting from racing or preparing for a race or stunting activity (except for sailboats in
organized races); or (4) to any personal property.
Physical Damage options:
Actual Cash Value: The actual cash value is determined by the market value, age, and
condition of the watercraft at the time of the loss. In the event of a total loss, this coverage
will pay the lower or the Actual Cash Value or the Watercraft Value. A current BUC Guide,
ABOS Blue Book, NADA Guide or a local dealer may be able to help determine the market
value.
Agreed Value: Pays the watercraft value in the event of a total loss regardless of the actual
cash value. On partial losses, there is no depreciation except for outdrive motors and units
greater than 5 years, batteries, sails, plastic and canvas coverings including all-weather
bridge and cockpit enclosures and dodgers or components of any of the preceding items.
Disappearing deductibles are included with Agreed Value coverage.
Agreed Value is available on all boats. For boats 2 years old or less, the sales receipt will
serve as the watercraft value. If a sales receipt is unavailable, the watercraft value may be
determined by looking at a BUC or ABOS guide. Every 3 years the watercraft value must be
updated by either a new marine survey or by referring to the BUC or ABOS guides.
Total Loss Replacement: Available on newly purchased watercraft up to one (1) model
year old. In the event of a total loss, this coverage replaces the current watercraft with a
new watercraft that is to the extent possible, the same make and model, and which
contains comparable equipment. For watercraft over five model years old, we will pay the
watercraft value. Total Loss Replacement Coverage requires a sales receipt to determine
the watercraft value. Disappearing Deductibles are included with Total Loss Replacement
Coverage.
Value of the Watercraft:
Value should include motor(s), permanent equipment, portable boating equipment
attached to or contained in the watercraft, and a trailer if you also want it insured.
Permanent equipment means equipment permanently installed on a covered watercraft
using bolts or brackets including slide out brackets. Permanent equipment includes but is
not limited to, permanently installed:
Ship-to-shore radios;
Depth finders;
Loran and GPS systems;
Fish finders;
Radar and sonar systems; and
Auxiliary trolling motors..
Portable boating equipment means detachable boating equipment customarily kept in or
on a covered watercraft for the maintenance or use of the watercraft. Portable boating
equipment includes, but is not limited to:
Anchors;
Oars;
Tarpaulins;
'Lights;
Fire extinguishers;
Extra fuel tanks;
Bilge pumps;
Portable cook stoves;
Safety and lifesaving equipment;
Deck chairs;
Water skis and other water sports equipment
Deductible:
The amount of each loss you agree to pay. Generally choosing a higher deductible will
lower your premium.
Disappearing Deductibles:
Some states may offer Disappearing Deductibles that provides a reduction in the
deductible amount the policyholder pays if Progressive does not pay a comprehensive or
collision claim. For each consecutive claim-free renewal, the original Comprehensive and
Collision Deductibles decrease by 25% until the fourth consecutive claim-free renewal at
which time they reach $0. Deductibles return to their original amounts once a
comprehensive or collision claim is paid.
Diminished Deductibles:
Some states may offer Diminished Deductibles that provides a reduction in the deductible
amount the policyholder pays if Progressive does not pay a comprehensive or collision
claim. For each consecutive claim-free renewal, the original Comprehensive and Collision
Deductibles decrease by 25% until the fourth consecutive claim-free renewal at which time
they reach $0. Deductibles return to their original amounts once a comprehensive or
collision claim is paid.
Personal Effects (PE) coverage:
Pays for loss of, or damage to, personal property while on board an insured watercraft or
while being carried on or off an insured watercraft. Personal Effects includes but is not
limited to; binoculars, cameras, CD players, cellular telephones, clothing, coolers, jewelry,
portable radios, scuba equipment, sunglasses, etc. Coverage is available up to $5,000.
$250 deductible for theft.
Fishing Equipment (FISHEQP) coverage:
This coverage pays for damage to fishing equipment while on board an insured watercraft
or while being carried on or off an insured watercraft.
On-Water Towing (TOW) coverage:
Pays for some towing or labor costs per occurrence as the result of a disablement while
the covered watercraft is afloat. Labor coverage applies only if it is performed at the time
and place of the disablement. No deductible applies. Available on Liability only policies
and when Roadside Assistance is selected.
Roadside Assistance (RD SIDE) coverage:
Pays for towing and labor costs due to disablement of your vehicle while it is towing your
pleasure boat or personal watercraft on land. (Included in Full Coverage policies for
pleasure boats and personal watercrafts with trailers.)