Effective April 1, 2013 Total Dollar Yacht Insurance has expanded its product line under Full Throttle Insurance to include multi engine Center Consoles. The product is available in all states and will be able to accommodate engine configurations of up to 5 outboards. The coverage will be written with both State National Insurance Company and National Specialty Insurance Company which are A Rated by AM Best and conduct business on an admitted basis in all 50 states with broad navigations including the Bahamas.
The highlights of the program are Hull Values to $1M and primary liability to $1M. Total Dollar has additional products to provide liability limits up to $5M. Windstorm is available in Florida and the Gulf Coast and is written on an Agreed Value form. Also provided are industry high levels of Medical Payments, Uninsured Boaters, Personal Effects and Towing and Emergency Services. Standard in the policy is Fuel Spill Limits of $1M which is among the highest in the industry. Lastly the policy provides $50K Personal Accident Coverage to the Insured and any Named Operators in case of injury or death and is currently the only policy form in this market to provide this additional benefit.
The policy does require the vessel to be equipped with a GPS tracking device to help deter theft which has been a problem on this class of boat. In addition, any vessels that are moored or stored in Cat exposed areas of the country will require a storm plan to be filed with the insurance company.
Full Throttle Insurance is the nation’s leading Performance Powerboat Insurance Program and is administrated by Total Dollar Yacht Insurance. The program has the ability to insure Vhulls to 130MPH and Catamarans to 160MPH. The program has been operating successfully since 2008 and Total Dollar has been specializing in the performance sector of the recreational marine insurance market since 1991.
According to Arthur H. Buhr III, Vice President of Total Dollar Yacht Insurance, “We are excited to expand our Full Throttle Insurance Program into the high end center console market as we understand better than anybody that this market sits in between the normal yacht insurance market and the present performance boat insurance market. Our goal is to bring an affordable and comprehensive product from a coverage standpoint to what we feel is one of the largest growing sectors of the marine industry which until now was one of the most under served from a recreational marine insurance standpoint.”