Brief Coverage Description:

The David Agency Borrowed or Chartered Boat Insurance is a prerequisite for this additional coverage.

Some competitors' personal insurance policies (home, condominium, apartment or boat) will provide coverage for borrowed boats for the liability damage they cause to others.

Very few personal insurance policies will cover them while using chartered boats. Juniors are normally covered under their parents personal policies when using borrowed boats. However, not everyone has insurance. Many foreigners competing in the U.S. do not have policies that cover them while in the U.S.

Sign the regatta participants up for this insurance, as needed.

Questions & Answers:

Q: What is Protection and Indemnity?

A: It is the marine version of a liability policy. Marine insurance is the oldest type of insurance there is, so we live with antiquated terminology.

Q: What is meant by "Excess"?

A: If the sailor who has applied for this insurance has valid and collectable insurance of his/her own, this insurance pays after all of the sailor's insurance limits are exhausted. If the sailor has no insurance, then this insurance pays first dollar and up to the limit of a covered liability claim.

Q: What is the deadline for applying?

A: Envelope with premium check and application, must be postmarked, or post mark cancelled by the U.S. Post Office, no later than the first date of the event.

Q: Do we need the boat users' names, addresses and signatures and place them on the form?

A: Yes. When insuring people, we do need to know who they are. All of this must be complete.

Q: Why is Excess Protection and Indemnity insurance needed?

A: Some sailors do not have any liability insurance. In the case of using Chartered Boats, most sailors do not have liability insurance that extends to boats they charter. With borrowed boats, many sailors do have insurance that extends to borrowed boats, while some don't. The only way to find out is to have the sailors contact their insurance agent. So if they don't have liability insurance when they use the boats that your club organizes, the damages they may cause with these boats may come back to haunt your organization. If you sign the competitors up for this, it guarantees that all of the competitors will be financially responsible, at least while they are using the boats you have arranged.

Q: Where does insurance like this come into play?

A: Let's say Borrowed Boat A collides with Borrowed Boat B, and Boat A is found at fault in the protest hearing. The Borrowed Boat Insurance will pay for the repair to both boats, then the insurance company will subrogate against the skipper of Borrowed Boat A for the damages to Borrowed Boat B only. If Borrowed Boat A skipper's personal insurance covers the damages, the insurance company can recoup part of their loss. If he has no valid insurance, the Excess Protection and Indemnity will pay this loss. Confused? Don't be. We handle these all the time.

Q: What is the most difficult problem you deal with?

A: Legibility of the applications. Sometimes we need to call you back with clarification questions to help you out. When applying, please write clearly and complete all answers. With Excess Protection and Indemnity, the skipper's signature is required. Do not fail to acquire the skipper's signature.