Quantum Boat 2.0 offers the ability to cover up to eight boats on a single policy, expedited policy issuance and highly customizable coverage options.
PRODUCT: Quantum Boat 2.0℠
COMPANIES: Travelers
BEST RATING: A++
AVAILABILITY: Appointed agents and brokers only.
FOCUS: Quantum Boat 2.0 is an advanced insurance product designed to meet the diverse needs of boat owners via flexible coverage options while improving the agent experience with a user-friendly platform.
This updated product provides an intuitive quoting and issuing experience, enabling agents to manage policies more efficiently. It responds to market demands by expanding eligibility to named operators as young as 21 and first-time boat owners, while also offering coverage for various boat types, including personal watercraft, center console fishing boats, pontoons, sailboats and classic or antique boats.
“With new coverage options, expanded boater eligibility and an array of potential discounts, Quantum Boat 2.0 enhances the overall customer experience and continues to provide tailored solutions for agents and customers," says Todd Shasha, assistant vice president of Travelers boat, yacht and special events product management.
COVERAGE DETAILS: Quantum Boat 2.0 introduces several notable improvements, such as the ability to cover up to eight boats on a single policy, expedited policy issuance and highly customizable coverage options. Quantum Boat 2.0 builds on Travelers' existing offerings by providing more personalized and flexible coverage options, improving the experience for both agents and customers.
Other key features include:
- Mechanical breakdown coverage options. Covers losses to inboard and outboard motors, such as wear and tear of the lower unit and machinery, including the mechanical transmission, outdrive and lower unit parts.
- Boat replacement coverage. May protect customers if they suffer a total loss within three years of purchasing a new boat.
- Protection from underinsured boaters. Offers protection if the insured is involved in an incident with another boater who lacks sufficient coverage.
- Boat liability-only availability. Allows consumers to secure liability-only coverage.
- TravAssist BoatsideTM on-water towing. Provides emergency services while afloat.
- Accidental fuel spill liability. Available as a separate standalone coverage.
UNDERWRITING: Travelers reviews factors such as insurance scores, age and type of watercraft, horsepower and motor vehicle reports, among other potential considerations. The application process and policy issuance occur online, with real-time policy issuance occurring for eligible risks.
Agent partners can issue eligible policies for boat model years to 30 years of age, hull values up to $350,000, and liability limits of $500,000. Minimum premiums will vary based on geographic exposure, starting at $125 for motorboats and $100 for personal watercraft and sailboats.
TARGET: New and experienced boat owners, including named operators as young as 21 years old and first-time boat owners. Personal watercraft, center console fishing boats, pontoons, sailboats and classic or antique boats are within appetite.
COVERAGE AVAILABILITY: AL, AR, AZ, CO, CT, GA, IL, IN, KY, MD, ME, MN, MS, MT, MO, NC, NH, NJ, NY, OK, SC, TN and TX.
COVERAGE TERRITORY: Coverage is provided for inland and coastal waters of the continental U.S. and Canada, excluding coverage in Florida from June 15 to Nov. 1 without company approval.
CONTACT: To learn more about boat and yacht coverage, visit Travelers. To get a quote via phone, call 800-952-8699.
Will Jones is IA editor-in-chief.
