green tick  Definition:

Pleasure Boat Coverage

Insurance for private pleasure boats. Coverage is not standard, but is generally broken down into insurance for (1) yachts, including sailboats; (2) boats with inboard motors under marine policies; and (3) outboard motor boats under marine policies; and (3) outboard motor boats under inland marine policies.

Yacht insurance, which is written on an all risks or a named peril basis, is broken down into (1) hull insurance; (2) bodily injury and property damage liability insurance; (3) federal compensation insurance for crew members; and (4) medical payments insurance. Outboard coverage insures a boat on land or in the water on an all risks or named peril basis.


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