Chubb Raises the Sails with a New Standard for Watercraft Insurance
On April 23rd, Chubb Insurance Company of Canada launched its enhanced Watercraft Policy. The policy has several advantages including a new discount, improved deductible options, expanded navigational coverage, travel-sized certificates of insurance and greater damage coverage.
The enhanced policy provides a 5% discount if the watercraft owner also has their home covered by Chubb Canada, and provides a 0.5% deductible option for boats with hull values over $50,000. Recognizing that many boaters live along the border, there are enhanced navigational limits with expanded West Coast navigation and a more cost effective Port of New York trip charge.
Several coverages have been expanded including removal of the 10% limit on Personal Effects, an increased Environmental Damage coverage limit of $100,000, and increased Uninsured Boaters Protection coverage of $1,000,000 with an option to buy up to $2,000,000.
"Chubb understands that increased protection is required in many areas to reflect changes in the economy and our legal environment," says Tanya Eyram, Vice President of Chubb. "We respect that our customers make use of their watercraft not just in Canada but also in US waters and need this enhanced coverage."
Chubb is consistently rated by consumers as one of the highest in claims satisfaction of all Canadian insurance companies.
Chubb Insurance Company of Canada has offices in Calgary, Montreal, Vancouver, and Toronto providing property and casualty insurance for personal and commercial customers through an extensive network of more than 200 brokers across Canada.
Visit Chubb's informative website at www.yacht.controltheoutcome.ca for more assistance in understanding watercraft insurance.
The member insurers of the Chubb Group of Insurance Companies form a multi-billion dollar organization providing property and casualty insurance for personal and commercial customers worldwide through 8,500 independent agents and brokers. Chubb's global network includes branches and affiliates in North America, Europe, Latin America, Asia and Australia.
For additional information, please visit www.chubbinsurance.com.
