Tuesday, January 15, 2008

ACORD Forms : How to Complete a Personal Lines Package Application , Watercraft Inland Marine Supplement 87

The underwriting process for any personal lines policy begins with the submission of a completed application. This guide will provide assistance in completing the ACORD Personal Lines Package Application, Watercraft/Inland Marine Supplement.

For property, liability and umbrella coverages, use ACORD 86.

The generic sections of personal lines forms are explained in the Personal Lines Generic Section at the beginning of the Personal Lines Section of the Forms Instruction Guide. On the ACORD website (www.acord.org), this information appears under the title PERSONAL LINES GENERIC SECTIONS.



Indicate the limit of insurance, deductible and coverage premium for each applicable coverage. List any additional coverages, including their limit and premium in the other coverage section.

Hull Coverage
Provide the limit, premium and deductible for boat damage; this may include collision liability.

Outboard Motor
Provide the limit and premium for damage to the outboard motor. Limits may be entered for rwo motors.
(Coverage for inboard motors is included in the hull coverage.)

Portable Accessories
Provide the limit and premium for those items not permanently attached to the boat. Examples:
Life Preservers
Fire Extinguishers

Provide the limit and premium for damage to the trailer.

Provide the limit and premium for bodily injury and property damage. May be called protection and indemnity.

Medical Payments
Provide the limit and premium for medical expenses for bodily injury to occupants of the boat.


Indicate the method of propulsion. Examples:
IB = inboard
OB = outboard
IO = inboard/outdrive
WTRJET = water jet propulsion

Sailboats can be powered by an auxiliary engine, therefore, please check SAIL in addition to the auxiliary type of propulsion for sailboats.

Hull Type
Indicate the type of watercraft to be insured.

Hull Material
Indicate the construction material of the hull.

Fuel Tank
Indicate whether the fuel tank is made of fiberglass or metal.

Registration Number
Show the state or federal license number for the watercraft.

Hull ID#
Show the serial number of the watercraft.

Model year of the unit in YYYY format. If built at home, enter the year built.

Name of the manufacturer and the model (e.g., Chris Craft Tournament Fisherman, Pacemaker Runabout).

Cost New
Cost of the boat when it was purchased new, in whole dollar amounts.

Overall length measured in feet from bow to stern.

Max Speed
Enter the maximum speed of the craft. State if measured in knots or miles per hour.

Date Purchased
Date the watercraft was purchased by the insured in MMYY format.

Present Value
Boat's present value, stated or agreed, in whole dollar amounts.

Name of Boat
Name in which the watercraft is registered.

Waters Navigated
Identify the primary area of operation (e.g., San Francisco Bay Area, Hudson River). Be very specific for yacht coverage because this description will determine the navigation warranty. (e.g., Atlantic, Pacific, Great Lakes, Inland Waterways, Rivers.)

This is typically the navigation territory. However, use company manuals to determine territory.

Berth/Storage Location
Physical address where the boat is stored; no P.O. boxes.

Lay-Up Period
Specify the period when the boat is not in operation (e.g., from October to March). Also, state if the boat is stored afloat or in a dry dock. If the boat is stored afloat, indicate the devices used to prevent ice damage (e.g., bubble system).


Use this section to provide information about all engines and motors used to propel the boat.

Model year of the engine/outboard motor in YYYY format.

Enter the name of the manufacturer and the model (e.g., Mercury Mark 50, Evinrude 200).

Serial Number
The serial number provided by the manufacturer.

Enter the horsepower. There is a method for determining the maximum safe horsepower for a specific boat based on length and width. If the company employs this formula, it may be helpful to make note of the width in the space labeled "other". Also indicate the fuel used to power the engine.

Date Purchased/ Cost New / Present Value
For outboard motors only, provide the date purchased, cost when new and present value.


If boat trailer insurance is to be included on the policy (usually only available for stand-alone watercraft policies), enter all pertinent information regarding the boat trailer: year, manufacturer, serial number, number of axles, capacity.


Indicate the number present on the boat and an appropriate description of each piece of equipment.

Bilge Pumps
A bilge pump is a manually operated or automatically activated device used for pumping water from the inner part of the ship's hull. Using the same principle as the manual pump, the automatic pump is activated by the rise of water within the hull. Specify the manufacturer and the model (e.g., Dynaflow Pump 304).

Cooking Stove
Indicate the manufacturer, model and fuel type. Also indicate if there is more than one stove.

CO2/Chemical System
A built-in fire extinguishing device. Indicate if it is manual or automatic and identify the spaces protected. Include the manufacturer and model. Use the Remarks section if necessary.

Fire Extinguishers
Indicate the number of fire extinguishers on the boat. Specify the type, size, and the date last weighed, if available.

Depth Sounder
An electronic device for determining the depth of the water beneath the boat. Indicate the manufacturer and model (e.g., Moran 6"- 150/SV-300).

Ship to Shore Radio
Indicate the type of radio. Examples:
SSB-Single Side Band
VHF-FM-Very High Frequency- Frequency Modulation
CB- Citizens Band
Cellular Phones
Marine Radio


Use the Remarks section to provide additional information for any questions answered with a "Yes" response.

1. Is the boat chartered to others?
If the vessel is chartered, describe the type of arrangements, destination, length of time and frequency. Indicate if it is a bare boat charter where no crew or supervision is furnished, a voyage charter, a time charter, etc. Include the purpose of the charter (sight-seeing, fishing) and whether alcohol is served.

2. Is the boat used commercially or for business purposes?
Describe the commercial or business use of the vessel. Indicate if the vessel is used for demonstrations, promotions, fishing, sight-seeing trips, etc.

3. Is the boat used for racing?
If the vessel is used for racing, indicate the frequency of such races during the year, the extent of the race, the waters navigated, etc.

4. Is the boat used for waterskiing?
Indicate how frequently the vessel is used for waterskiing.

5. Does the applicant employ a paid crew?
Specify the number of crew members, and whether they are full or part time. Be sure to list the crew members in the Operator section of the application.

6. Any sleeping facilities?
Provide the number of beds.

7. Any existing damage to the boat?
Describe any damage in detail.


Use the Remarks section to provide additional information for any questions answered with a "yes" response.

1. Any operator have a physical/mental impairment
Answer "Yes" only if the impairment impedes the use of the watercraft. Indicate the impairment and any applicable medical treatment being used by the applicant. This question may not be asked in Wisconsin.

2. Any drivers license suspended/revoked during the last three years?
Indicate the driver number, period of suspension, reason for suspension, and date license was reinstated.

3. Any operator had an accident/conviction in the last three years?
Provide the date of each occurrence and describe in detail


Enter the amounts of insurance, the rate (carried to three decimal places), and premium (rounded to the nearest whole dollar) for each applicable coverage. If objects are stored at different locations, include information for each additional location.

Total amount for all jewelry.

Total amount for all furs. If more than one category of furs is to be covered, use the blank space provided (No. 11-14).

Fine Arts
Total amount for all fine arts. Include paintings, pictures, etchings, sculptures or other objects of art. Note general information question 2.

Includes photographic equipment and supplies; note general information question 5.

Musical Instruments
Includes musical instruments, instrument cases, sound and amplifying equipment; note general information question 5.

Includes flatware and other silverware and goldware.

Stamps and Coins
Stamps and coins may either be scheduled individually or blanket coverage may be provided. Check the box below No. 7 if unattended car coverage is to be included.

Golfer's Equipment
Total amount for golfer's equipment.

Personal Computers
Includes printers, modems and other peripheral equipment.


Use the Remarks section to provide additional information for any questions answered with a "Yes" response.

1. Any protective devices/systems in use?
Provide the details for the system; include the type of system, whether it is local, central, or directly connected to a central station, and whether it was professionally installed. For scheduled jewelry kept at home, a copy of the alarm specifications sheet must be submitted to qualify for a credit.

2. Will any property be exhibited?
This question refers to exhibition away from the insured's premises. Provide information regarding exhibition of the property. Include what type of property, the location where the property will be exhibited, type of exhibition, type of security, or security devices that may be used, and the duration of the exhibition.

3. Will any special restriction/endorsements apply?
List the endorsements and/or describe the restrictions. If the endorsements/restrictions do not apply to all property classes or items, designate the classes or items to which they apply.

4. Will any type of deductible apply?
Provide the amount and type of deductible. Designate which classes or items should have the deductible applied.

5. Is any property used professionally/commercially?
List those items used in this capacity. Also, provide an explanation of how the property is used. Include cameras and musical instruments.


List those items that are to be covered on the policy in this section. Designate which items should receive additional coverage or rating consideration. Since a total value for each property class must be provided, group together all items of the same property class and with the same rating characteristics. When working with a long list of items, you may attach a list of the items rather than completing this section of the application. When listing items, provide a full description including serial numbers, if applicable. Appraisals or sales receipts must be included where required.

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