Our marina just started to require that they (the marina) be named as additional insured on our yacht policy... Is anyone else being required to add their marina to their insurance policy? Does anyone know the ramifications of this? Thanks
What happens to premium if you have a spotless no claim record, your marina gets added as an insured, and it has an appalling record of frequent and dodgy claims on its own insurances. Can that affect your premium?
What happens to premium if you have a spotless no claim record, your marina gets added as an insured, and it has an appalling record of frequent and dodgy claims on its own insurances. Can that affect your premium?
I wouldn't think that it would make any difference. They insure you based on your location already.
So, they can`t make a claim? It just ensures they know if the policy is kept current, in the same way as a lender?Correct. Adding an AI to a policy does nothing more m.than make the AI and info addee on the policy with regards to cancellations, reinstatements, etc. They cannot make any changes to the policy or access policy info.
Well, incomplete...see below for additional insured rights.Correct. Adding an AI to a policy does nothing more m.than make the AI and info addee on the policy with regards to cancellations, reinstatements, etc. They cannot make any changes to the policy or access policy info.