WATERCRAFT COVERAGE

There are two kinds of Watercraft Coverage available:
All Risk without waterborne collision or All risk with waterborne collision.
          
In the event of a loss, settlement is based on one of the following:

Blanket Coverage
Actual Cash Value unless 3 years or newer (must be purchased new) then it is Replacement Cost

Scheduled Coverage
Actual Cash Value unless 3 years or newer (must be purchased new) then it is Replacement Cost

Agreed Scheduled Coverage
Value agreed upon between insured, broker and insurer.  This would be for houseboats, barges, launches, cruisers, etc.

Houseboat coverage
In order to qualify for this form of coverage the vessel(s) must meet the following requirements:

Must be in good sound physical mechanical order.
Must be approved by Kenora Program Facilitators.