PURE Expands Appetite to Cover Personal Watercrafts

Privilege Underwriters Reciprocal Exchange (PURE), the member-owned property/casualty insurer of high-value homes and property, has expanded its appetite to insure members’ watercraft, which will be served by a new automated quoting and policy issuance. PURE’s watercraft coverage is offered across 38 states, and is available for a range of vessels, including powerboats, sailboats and luxury yachts valued up to $3 million.

PURE’s watercraft insurance includes:

• Multiple vessels, one policy – PURE offers members a single policy and billing statement, regardless of the number of insured vessels, their navigational territory or their primary berthing location.
• Agreed value – In the event of a total loss, PURE will pay the coverage amount listed on the policy, without applying a deductible. PURE will not waive the deductible in the event that a hurricane deductible or other special deductible applies.
• Replacement cost – Following a partial loss, PURE will pay to repair a damaged vessel without deducting for depreciation. Actual cash value coverage may apply for sails, outboard engines, canvas and batteries that are more than three years old, as well as for vessels that are for sale.
• Navigational limits – Whether navigating close to home or far away, PURE offers coverage for all cruising itineraries.
• Emergency towing & assistance – If a vessel becomes disabled – even if it is caused by an event not covered by the policy – PURE will pay the towing and emergency assistance costs without application of a deductible.
• Liability protection – PURE provides coverage for legal defense costs, damages, pollution clean-up and containment, wreck removal and Jones Act coverage for paid crew.
• Personal effects – If personal property or fishing equipment is damaged or stolen from a vessel, PURE will pay to repair or replace it.
• Hurricane haul-out- PURE will reimburse haul-out and storage expenses that a member incurs to protect their vessel from a named storm.

PURE also offers the services of member advocates, who are available to help members with the administrative hassles associated with the claims and risk management process.

Insurance coverage is underwritten through Privilege Underwriters Reciprocal Exchange, a Florida-domiciled reciprocal insurance exchange and member of the PURE Group. PURE provides coverage for high-value homes, automobiles, jewelry, art, personal liability and watercraft to more than 16,000 families in 38 markets across the U.S.