Yacht Insurance


Yacht Insurance

Yachts are valuable assets worthy of the best insurance protection. And while yachts differ by construction, size and value they also differ in the way they are used and how they are navigated. Understanding the risks inherent with yacht ownership is critically important to being able to properly insure the yacht. That is why working with a Yacht Insurance Specialist is so important to procure the broadest protection available at the most affordable price. That is the definition of true value and that is what we are passionate about here at Charter Lakes.  Our account executives will help you design a policy that precisely fits your needs.  We have 24/7 claims service, so you will have support available when you need it in the unfortunate event that you have a mishap on the water.

Please note: Every yacht insurance policy is written differently and can vary greatly in the amount of coverage it provides. Charter Lakes represents the largest, most financially sound yacht insurance underwriters in the country. We understand the strengths and weaknesses of each underwriter’s policy form, including those of our competitors. Our Account Executives will help you find the right policy to precisely fit your needs and your budget.

Basic Yacht Policy Features Include:

  • All Risk policy form written on an occurrence basis
  • Physical Damage is written on an Agreed Value basis
  • Protection and Indemnity Liability
  • Pollution Liability
  • Medical Payments
  • Personal Property Coverage
  • Uninsured Boaters Liability
  • Towing and Emergency Assistance

Did you know that many yacht insurance policies specifically exclude loss caused by mechanical breakdown? That may not be surprising to you since your automobile policy excludes mechanical breakdown as well. However, we sell several policies that do not exclude mechanical breakdown loss. This could mean the difference between having a $ 50,000 engine failure covered or not.

The yacht Insurance marketplace can be challenging. Working with a Yacht Insurance Specialist is the best way to procure the broadest insurance protection at the most affordable price.

Putting our team behind you is a winning combination.

Passenger Vessel Insurance


Passenger Vessel Insurance

As a passenger vessel owner you are serious about the condition of your boat and the experience of your crew. Both are critical to your success so you don’t skimp on either. The same should be true of your insurance. You need a commercial insurance policy that provides broad physical damage coverage and protection from potential liabilities to passengers, crew and other third parties. The Passenger Vessel Policy offered by Charter Lakes provides broad insurance protection at substantial premium savings.

Standard Coverage:

  • Physical Damage– Agreed Value
  • Disappearing Hull Deductible
  • Passenger Liability– Protection and Indemnity (P&I)
  • Dockside Liability
  • Pollution Liability
  • Medical Payments Coverage
  • Personal Property Coverage
  • Towing and Emergency Assistance
  • Equipment Stored Ashore Coverage
  • 24 Hours Claims Service

*Please consult one of our account executives for complete explanation of coverages.

Charter Lakes has been insuring passenger vessels for more than 30 years. We understand the business and the risks associated with operating a passenger vessel.  We also understand how important it is to your business to keep operating costs under control. We have priced our passenger vessel policy according to the exposure so you do not pay for coverage you do not need. The result is an affordable insurance policy designed specifically for owners and operators of passenger vessels.

While passenger vessels face similar exposures, the business operations can be very different. We have developed optional coverage(s) to meet specific needs of passenger vessel owners.

Optional Coverages:

  • Maritime Employment Liability Coverage (to cover liabilities to your crew employees)
  • Marine General Liability for land based or floating support operations
  • Liquor Liability
  • Excess P&I/Bumbershoot Liability Coverage
  • Shoreside Property and Casualty coverage.
  • Additional interests and waivers of subrogation

Additional Features:

  • Payment Plans – We offer several interest free payment plans and a 10 month premium finance option depending on your needs.
  • Risk Management – Charter Lakes provides a wide array of risk management services which could even include loss control inspections. We can also help our clients with vessel leases, liability releases and indemnification contracts.
  • Interactive Access - Clients have 24 hour on-line access to their policy and their vessel documents which we store in a secure paperless environment. Clients can also request policy changes, file a claim, or make payments online.

Our clients include:

  • Party Fishing Vessels
  • Multi-Day Expedition Vessels
  • Dinner Cruise Boats
  • Replica Pirate Ships
  • Whale Watching Vessels
  • High Performance Jet Boats
  • Eco and Scenic Tour Boats
  • Environmental Education
  • Dive and Snorkel Boats
  • Airboats
  • Passenger Ferry Boats
  • Duck Boats
  • Paddle Wheelers
  • Sailing Vessels

Guided Sport Fishing Insurance


Guided Sport Fishing Insurance

If you are a Professional Fishing Guide you have come to the right place for your insurance needs. Charter Lakes has been insuring Fishing Guides for over 30 years. That experience enables us to purchase the broadest insurance protection available at the most competitive price. It has enabled us to develop a Guided Sport Fishing Policy that protects every aspect of your business.

Our policy includes the following:

Agreed Value coverage for your Boat, Motor, Boat Equipment and Trailer
Disappearing Hull Deductible
Consequential Damage Clause
Protection and Indemnity – the broadest form of marine liability insurance
Pollution Liability -  included
Professional Angler Liability Coverage
Dockside Liability Coverage
Replacement Vessel Liability Coverage
Tournament Fee Reimbursement
Named Storm Deductible is waived for boats under 26’
$2,500 in fishing tackle and personal property coverage
Broad navigation and boat trailering conditions

Optional Coverage Available

  • Shoreside Liability
  • Wade Fishing Liability
  • Additional Interests
  • Charter Legal Liability
  • Replacement (non owned) Vessel Hull and Liability Extension
  • Liability limits up to $ 2,000,000 are available

* Please consult one of our agents for complete explanation of coverage.

As a professional Fishing Guide you are serious about catching fish. Your boat is your office and your tackle your tools so you don’t skimp on either. The same should be true of your Guide Insurance. You need serious insurance to protect your property, to protect you from potential liabilities and to protect your customers. The Charter Lakes team can guide you to the broadest insurance protection at the most affordable price.

COMPARISON WITH OTHER PROGRAMS:

  • MECHANICAL BREAKDOWN — Our program does not exclude mechanical breakdown. Having insurance coverage for an engine failure could be critical to your success. Many policies SPECIFICALLY EXCLUDE any claim resulting from mechanical breakdown - no engine coverage. Overheating, electrical failure and fuel problems may be excluded.
  • PROTECTION & INDEMNITY LIABILITY - Our policy provides P&I which is the broadest form of marine liability insurance. Our policy is written on an occurrence basis with no aggregate limit. We offer up to $2,000,000 limits in our program. Many policies offer maximum liability limits of $300.000. This is simply not enough coverage in today’s world. Many resorts and government agencies require guides to carry $1,000,000 limits or higher.
  • DOCKSIDE LIABILITY — This is Included in our policy and provides liability while your passengers are on a dock, float or pier. Most polices DO NOT OFFER THIS and exclude liability coverage for passenger injuries before they get on your boat or once they step off your boat.
  • PROFESSIONAL ANGLER LIABILITY This is an optional coverage for liabilities you may become liable for through your activities as a Professional Angler whether directly or indirectly associated with the insured vessel. Conducting fishing seminars, exhibiting at sport shows, distributor shows or dealer open house appear ances are just some examples. Most polices DO NOT OFFER THIS.
  • FISHING EQUIPMENT — We extend coverage for your fishing equipment when it is in your boat, while stored ashore, or locked in your vehicle. Other Fishing Guide programs offer coverage while the equipment is ABOARD THE BOAT ONLY. Note - Home owners polices may not cover your fishing equipment as it is considered commercial property.
  • NOT JUST FISHING — Our program allows other activities such as scenic tours, eco tours, shelling, bird watching, diving, snorkeling, swimming, etc, not just fishing (diving, snorkeling or swimming requires additional endorsement and premium)
  • SHORESIDE LIABILITY — This is an optional coverage available and provides liability when you guide passengers on a beach for shelling, nature tours, or even wade fishing. Most polices DO NOT OFFER THIS.
  • CHARTER LEGAL LIABILITY — This is an optional coverage available which provides a liability umbrella over another guide’s policy who you may be booking charters for. Most polices DO NOT OFFER THIS.

Commercial Watercraft Owners Policy


Commercial Watercraft Owners Policy

Owning a business that owns or leases Commercial Watercraft exposes you to significant risks and liabilities. Understanding these risks and liabilities is what we focus our attention on at Charter Lakes. This enables us to provide the insurance protection our clients need at a price they can afford.  We have developed a new, highly competitive commercial Hull and P&I Program for owners and operators of commercial watercraft.

COMMERCIAL WATERCRAFT OWNERS POLICY

  • All Risk policy written on an occurrence basis
  • Hull and Machinery is written on an Agreed Value basis.
  • Protection and Indemnity (P&I) Liability
  • Broad Navigation Limits

TYPES OF RISKS WE INSURE:

  • Oil and Gas Contractor
  • Geophysical Contractor
  • Environmental Contractors
  • Pollution Remediation Contractor
  • Hydrographic Surveyors
  • Bridge Inspection
  • Vessel Assist Tow Boats
  • Municipality Patrol and Fire Rescue
  • Building and Marine Contractors
  • Aquatic Foliage Control Contractors
  • Commercial Fishermen
  • Land Surveyors

 

OPTIONAL COVERAGES:

  • Marine General Liability
  • Jones Act/Maritime Employment Liabilities
  • Cargo Legal Liability
  • Excess Liabilities
  • Additional Insured/Waiver of Subrogation
  • Pollution Liability Buy Back
  • Towers Liability
  • Medical Payments

Navigating the Commercial Marine Insurance market can be a challenge. Let Charter Lakes be your guide to finding the best insurance solution for your business and your budget.

Charter Boat Insurance


Charter Boat Insurance

If you are the owner of a Charter Boat you have come to the right place for your Charter Boat Insurance needs. Charter Lakes has been providing Charter Boat Insurance (uninspected passenger vessels) for 34 years. Our mission is to provide our clients with the broadest coverage available at the most competitive price. We have taken that one step further with the introduction of our new Charter Boat Policy. In our humble opinion, this is the broadest Charter Policy available in the country. Regardless of your budget, we have the flexibility to tailor a policy for you that meets your coverage needs.

Standard Policy Provisions Include:

  • Written on an Agreed Value basis
  • Disappearing Deductible Clause
  • Protection and Indemnity Liability Coverage (limits up to $ 2mm are available)
  • Pollution Liability with a standard limit of $ 854,400
  • $ 25,000 Passenger Medical Payments Coverage
  • $ 5,000 Personal Property/Fishing Tackle Coverage
  • $ 2,500 Towing and Emergency Assistance
  • Dockside Liability Coverage
  • Replacement Vessel Liability

* Please consult one of our agents for complete explanation of coverage *

Optional Coverage Features Include:

  • Liability coverage for your employment of Captain(s) and Crew
  • Marine General Liability (for land based property like an office or store)
  • Charter Legal Liability (for your booking trips on non-owned boats)
  • Excess Protection and Indemnity
  • Shoreside Liability
  • Additional Interests/Loss Payees/Breach of Warranty

Types of Charter Operations We Insure:

  • Sport Fishing Charter Boats
  • Eco and Nature Tours
  • Whale Watching
  • Expedition (Multi Day) Charters

Charter Lakes focusses 100% of its energies on marine insurance with a special focus on passenger vessels. We make it easy for you to purchase the broadest coverage available at the most competitive price. Let our experienced Agents go to work for you.  Fleet discounts apply.

Boat Insurance


Boat Insurance

Charter Lakes specializes in boat insurance.  And while you might think all small boat insurance policies are the same, you would be wrong. Every boat insurance policy is written differently and can vary greatly in the amount of coverage provided. Charter Lakes represents the strongest marine insurance underwriters in the country. We understand the strengths and weaknesses of each our underwriter’s policies as well as the policies of our competitors. Our Account Executives will help you find the broadest insurance protection at the most affordable price.

Basic Features Include:

  • All Risk Policy written on an Occurrence basis
  • “Agreed Value” Physical Damage Coverage
  • Protection and Indemnity Liability
  • Pollution Liability
  • Medical Payments
  • Trailer Coverage
  • Personal Property Coverage
  • Uninsured Boaters Coverage
  • Towing and Emergency Assistance

Because boat insurance is all we do at Charter Lakes, we offer much more to boat owners than can be offered by a general insurance agent.  Apart from representing a wide array of (A) rated underwriters and policy forms, we offer 24/7 claims service so you will have our support available in the unfortunate event of a claim. As a specialist, we are uniquely capable of acting as an advocate for our clients if there is ever a claim dispute with an underwriter. We have successfully gone to bat for our clients on many occasions.

Putting our team behind you is a winning combination.

 

Anglers Choice Insurance


Anglers Choice Insurance

As an avid angler you are serious about catching fish. Much of your success depends on your boat and equipment, so you don’t skimp on either. The same should be true of your insurance.  The Anglers Choice Insurance Program was developed for Anglers by Anglers to provide broad insurance protection at an extremely competitive rate - whether you fish just for fun or on the tournament trail.  Charter Lakes has been insuring Recreational Fisherman and Tournament Anglers for 30 years. That experience has resulted in an insurance policy designed specifically for owners of inshore and offshore fishing vessels.

Coverage features include the following:

  • Physical Damage – written on an Agreed Value basis
  • Disappearing Deductible
  • Consequential Damage Clause
  • Fishing Equipment - $5,000 included**
  • Protection & Indemnity (P&I) - Broadest marine liability available
  • Professional Angler Liability - Included in the P&I
  • Pollution Liability - Included at the $ 854,400 limit
  • Medical Payments - Included at $25,000 per person
  • Tournament Fee Reimbursement - $500 included
  • Towing and Emergency Assistance - $2,500.00 Included
  • Unlimited Trailering within the continental United States
  • 24 hour claims service

* Please consult one of our agents for complete explanation of coverage
** Standard program features shown above, optional coverage and higher limits are available

Putting our team behind your team is a winning combination

COMPARISON WITH OTHER PROGRAMS:

  • MECHANICAL BREAKDOWN - The Anglers Choice policy does not have a mechanical breakdown exclusion. This could mean the difference between having an engine failure covered or not. Many policies SPECIFICALLY EXCLUDE any claim resulting from mechanical breakdown - no engine coverage. Overheating, electrical failure and fuel problems may be excluded.
  • PROTECTION AND INDEMNITY LIABILITY P&I - This is the broadest form of marine liability insurance available. The Anglers’ Choice policy includes P&I liability written on an occurrence basis with no aggregate limit and can provide up to $1,000,000 in coverage. Many policies only provide watercraft liability, not P&I, and only offer maximum liability limits of $500.000. Tournaments trails and corporate sponsors may require teams to carry $1,000,000 limits.
  • TOURNAMENT COVERAGE - The Anglers Choice policy specifically defines the use of vessel to include coverage for your vessel, machinery, equipment and your fishing gear while used in fishing tournaments. Most personal use policies exclude all “commercial use” of the insured vessel and will consider Tournaments “commercial use” as vessel is being used to generate income. They may refuse to pay your claim if you hit a rock, damage your boat/motor and the accident occurred while fishing a tournament.
  • PROFESSIONAL ANGLER LIABILITY - This is coverage is included for liabilities you may become liable for through your activities as a Professional Angler whether directly or indirectly associated with the insured vessel. Conducting fishing seminars, exhibiting at sport shows, distributor shows or dealer open house appearances are just some examples. Most personal polices DO NOT OFFER THIS.
  • FISHING EQUIPMENT - The Anglers Choice Policy extends coverage for your fishing equipment when it is in your boat, while stored ashore, or while locked in your vehicle. Other insurance policies merely afford coverage while the equipment is ABOARD THE BOAT ONLY. Note – A home owner's policy may not cover your fishing equipment at all as it is considered commercial property.
  • FISHING GUIDE - Many Professional Anglers also use their vessel and their skills to take passengers for hire as a fishing guide. An optional endorsement may be purchased to allow the owner to use the vessel for occasional guiding. Most personal polices DO NOT OFFER THIS.