Ahoy! Insurance Announces Yacht Underwriting Offering

FF News [New York, NY - August 6, 2024]

Ahoy! Insurance, the tech-driven insurance provider built by boaters for boaters, today announced that it has significantly expanded its offering to boaters and agents, expanding its geographic coverage, insured value limits, and boat sizes. The new offering allows millions of larger boat owners to purchase Ahoy! Insurance’s highly regarded, tech-driven, and user-friendly boating insurance for the first time.

The expansion of coverage comes at a critical time for owners of larger boats domiciled in the US, as they have faced dwindling options with traditional, large insurance carriers that struggle to accurately assess risk retreating from this marketplace. Ahoy! Insurance’s offering fills the gap with speed criteria for qualifying boats and provides coverage limits of up to $2.5 million and a size of 95 feet. The new Yacht offering is available across all 50 states and US Territories.

Some of Ahoy! Insurance’s key differentiators are:

• Straightforward underwriting, enabling a quote can be turned around in under a day
• The industry’s most user-friendly onboarding and operating experience for brokers and agents
• Peace of mind with the new offering underwritten by certain underwriters at Lloyds

“The expansion of our highly rated product into the larger boat category while large legacy insurers pull out is a testament to both our substantial advantage in assessing risk, as well as the reputation of the product itself,” said Kaenan Hertz, Ahoy!’s Chief Insurance Officer. “Brokers and agents will finally be able to offer the type of seamless tech-infused experience boaters are accustomed to elsewhere in their lives, with the features boaters love. All while enjoying the peace of mind of a large, well-respected insurance giant – Lloyd’s. It’s really a huge deal for a whole new category of boaters, and we’re excited to serve them.”

Credit: FF News - https://ffnews.com/newsarticle/insurtech/ahoy-insurance-announces-yacht-underwriting-offering/