Terms & Conditions
Users of QuoteMyBoat.com must comply with the following terms and conditions:
Billing: Policies provided by QuoteMyBoat.com may be direct or agency billed depending on the company. We have listed company billing information under the Important Company Information with each quote. If the policy is direct billed, the client will receive the invoice direct from the company. However, we are required with some direct bill companies to get 25% of the premium with the application; subsequent billings will be direct to the client
Other policies are agency billed and will be billed to you from Global Marine Insurance Agency. It is important that we receive the full payment within 30 days of binding coverage. There are no payment plans available for agency billed policies. Once coverage is bound there are no flat cancellations.
Missing Information: It is very important that you supply us with any requested information to ensure that you are covered properly. Even if the information seems insignificant to you it may make a difference in a claim situation. After we have requested the information, we will follow up once and then appropriate action will be taken. This may mean placing the boat on Port Risk with No Navigation Allowed or Canceling the policy.
Quote Accuracy: We have made every effort to make sure our quotes are accurate. However, as the information is reviewed prior to binding coverage, there could be circumstances that dictate a premium or coverage change. Please help us to minimize this by giving complete and accurate information. We have included a Notes* section to give you the opportunity to supply us with any additional pertinent information or questions. *Notes will be available soon, but in the meantime please contact an underwriter at (888) 882-0447 with the information.
Credit-Based Insurance Scoring: In connection with this insurance and to offer you an accurate quote, the insurance company may obtain or use a credit-based insurance score as part of the insurance underwriting process. Actuarial studies indicate that an insurance score is a good predictor of future claims, thus enabling the insurer to base their premiums on the actual risk. The information used to develop the insurance score comes from TransUnion or other similar companies. A credit-based insurance score will not impact your credit rating or credit score.
West Virginia Residents may request recalculation of your credit-based insurance score once every 12 months.
Caveats
Utmost Faith: According to law, you must provide us with truthful and complete information for us to quote the policy. This concept is known as Utmost Faith, which means the company is basing their quote and coverage on your faithful representation. If you are not completely truthful and there is a claim, any claim, insurance companies can void the policy completely and have every right to; if it is proven you were not forthright. For your own protection, please provide us with good, accurate and complete information.
Warranties and Endorsements: All yacht policies contain Warranties and Endorsements that limit or restrict coverage. Furthermore, with every policy there are exclusions and limitations. It is very important that you understand these restrictions. QuoteMyBoat.com supplies you with the wording for company specific endorsements. Please take time to review these. We want you to be an informed buyer, who is aware of the endorsements, exclusions, limitations and warranties.
Age Restrictions: Global Marine Insurance Agency is unable to write any policies for people under the age of 21 and ask that you do not submit any requests for them. Youthful operators may be allowed on some policies, if they have passed the Boating Safety Course and/or have a valid driver’s license. You must notify us if there are any youthful operators.
Direct or Implied Warranties
Captain or Crew: The promise to employ a certain number of crew as specified in the policy and to inform the company prior to any changes. The insured must also notify the company prior to a change in Captains and provide the Captain’s License and resume to the company.
Exclusions: Policy exclusions are specific perils that are not covered by the policy. Typical exclusions, but not all inclusive are: Wear and Tear, Gradual Deterioration, Intentional Acts, Marine Life, Vermin, Insects, Marring and Denting, Osmosis, Blistering, Manufactures Defects, Mold, Ice and Freezing, etc. Please read the policy carefully for all exclusions.
Lay Up: Requires that the boat will be laid up and out of commission during a specified period of time. If the vessel is used during that period then coverage is voided. Many companies apply a premium credit for the lay up period.
Navigation: Specific territory, in which the boat will be operated in, is the stated area of Navigation. For instance, one Navigation territory is the Great Lakes and Tributaries, if the vessel is taken outside of this area, there would be no coverage.
Private Pleasure Use: The vessel will not be used for any purpose other than private pleasure use. If the vessel is used for Chartering, Business or Commercial Use, etc., there would be no coverage.
Restrictive Endorsements: A restrictive endorsement usually contains special wording which covers a specific situation and limits the policy coverage. For example, some companies will restrict the navigation area during hurricane season to prevent a vessel from being in a hurricane area.
Seaworthy: The inherent warranty that the boat will not be used in a known unsafe (un-seaworthy) condition. If it is, coverage can be voided.
Special Deductibles: Companies often mandate a Named Storm Deductible which is much higher than the standard deductible if a boat is navigated in a coastal area. The Named Storm Deductible applies if the vessel is damaged by a named storm.
Warranties: A warranty is a promise by the insured person that he/she will or will not do certain things and if those promises are not kept then coverage is excluded.
Privacy Policy
Global Marine Insurance Agency, Ferguson & Associates, Inc. and the insurance companies we represent are committed to respecting your privacy. The information we collect will be used only for the purposes of quoting and selling watercraft insurance. It will not be sold or further distributed to any additional party for any other reason. However, if a legal authority demands the information, we must comply.
Application: The information provided by you on the application is used to determine the proper premium and coverages for the you and your boat. This information determines which companies will underwrite the boat. It is very important that you verify ALL information is correct prior to signing and dating the application. If incorrect information is provided on the application, a claim may be denied and coverage cancelled regardless of the nature of the claim.
Security: Global Marine Insurance Agency and Ferguson & Associates, Inc. use standard industry practices to provide and maintain any information you provide on this site. Our security measures help to make certain that information is secure and encrypted to the best of our ability, so that others cannot access it while it is in transit. Global Marine Insurance Agency requires that employees adhere to high ethical standards and integrity in conducting business. However, firewalls and encryption are not completely tamper resistant. Therefore, Global Marine Insurance Agency and Ferguson & Associates, Inc. make no implied or implicit guarantees with regards to security.
Cookies: A Cookie is data stored on the system about the user. Cookies are used on our site only to enhance and simplify the users visit and us. No personal information is collected through the use of cookies, however, if the user rejects the cookie it will restrict certain features of the site.
Links: This web site may contain links to other sites. Global Marine Insurance Agency and Ferguson & Associates, Inc. are not responsible for the privacy practices of other sites. Please read and understand other web sites privacy policies when you visit them.
Supplemental Information: It is necessary for Global Marine Insurance Agency to use supplement underwriting information with data from third parties, such as motor vehicle records and insurance credit reports. Companies may use this information to allow extra credits, which may reduce your premium. Once again this information is only used for insurance purposes and is kept confidential.
Changes to our Privacy Policy: Changes to our privacy policy will be posted on our web site.