Travelers offering insurance for antique boatsPosted on
Boat and yacht experts from Travelers Insurance have created products specifically for antique and classic runabout owners.
“Insuring an antique and classic runabout is unlike covering any other type of boat or yacht,” said Chantal Cyr, vice president of Travelers Boat and Yacht Division, in a statement. “Preserving the boat’s history, especially in the repair process, is meaningful to antique boat owners. Travelers understands that point and can help safeguard this important value.”
Travelers’ antique and classic runabout program features an agreed value policy that is not based on the depreciated value of the vessel. In the event of a total loss, this coverage offers no depreciation and no deductible.
This program also waives depreciation that includes machinery, hull and interior including canvas and upholstery in the event of a partial loss.
“Classic boats are used differently and need unique and innovative insurance products that protect the vessel in its various roles as both a showpiece, and a boat that cruises the shoreline,” added Cyr.