Physical damage options

Different settlement types may be available depending on your watercraft's characteristics.

Actual Cash Value is the value for the watercraft at the time of loss, less depreciation.

Agreed Value "locks" in the value of your watercraft at an agreed price. In the event of a total loss, we will pay the agreed value if we cannot replace the watercraft with like kind and quality.

Replacement Cost is available for watercraft between the current model year and the third preceding model year. If at the time of total loss, you choose to replace the watercraft, we will pay the cost of a new watercraft that is, to the extent possible, the same make, class, size, and type, and which contains comparable equipment to the insured watercraft.

*As with any insurance contract, your coverage may be subject to policy limitations and exclusions as described in the policy documents. If you would like more explanation or need assistance, please contact one of our Insurance Specialists at 1-800-236-2453.