Travelers is offering a new discount on boat and yacht insurance premiums for boaters that use the Autotether wireless emergency-stop lanyard.
The devices are designed to reduce the chances of a runaway boat by turning off the motor should the boat's operator go overboard. According to the Coast Guard, falls overboard are a leading cause of boating fatalities, thousands of dollars of property damage and injuries to victims each year.
"Encouraging safe boating is a top priority at Travelers as falls overboard place everyone in the water at risk," said Chantal Cyr, vice president of the boat and yacht division at Travelers, in a statement. "We expect that offering a boat and yacht insurance premium discount will encourage powerboat owners to consider using a wireless emergency-stop lanyard to make boating safer for everyone on the water."
Wearing an emergency-stop lanyard is required by law in six states - Alabama, Arkansas, Illinois, Iowa, Nevada and New Jersey. According to Autotether, most boat operators surveyed do not wear lanyards that connect to the operator from the boat's ignition.
Travelers says it is reviewing safety devices made by other manufacturers in the hopes of offering this discount in the future to boaters who own them.