PRODUCT: Ahoy! Boat and Yacht Insurance

COMPANIES: Ahoy! Insurance is a managing general agent (MGA). Its admitted product is written on Spinnaker Insurance paper with reinsurance from GreenlightRe and TopsailRe. The excess & surplus product is a Lloyd's-backed offering underwritten by Lloyd's underwriters as part of a GreenlightRe syndicate.

BEST RATING: Spinnaker is ranked A- and Lloyd's is ranked A+.

AVAILABILITY: Available on an open-brokerage basis.

FOCUS: Ahoy! Insurance provides a tech-driven and flexible marine insurance solution for boaters. With its expansion into Florida, the world's largest boating market, Ahoy! offers innovative, customizable insurance products, including both admitted and excess & surplus options. The product simplifies access to tailored coverage and leverages technology to enhance risk management and streamline claims processing.

Ahoy! Insurance was established by a team of naval veterans, insurance experts and high-tech executives with a deep understanding of the boating insurance landscape. The company offers enhanced marine insurance through a dual coverage option, providing agents and brokers with a choice between admitted and E&S policies, each tailored with unique underwriting criteria, features and pricing.

Ahoy! also integrates risk-reduction technology to improve boater safety and offers a user-friendly digital onboarding experience for consumers and agents. After launching its E&S product nationwide and its admitted product in 46 states, Ahoy! is now available in Florida.

COVERAGE DETAILS: Ahoy! Insurance provides comprehensive coverage for vessels up to 95 feet in length and $2.5 million in value. Key highlights include flexible policy options and a multitude of deductible and coverage options, many of which are unique to boaters, such as fishing equipment coverage, on-water towing coverage and phone overboard coverage.

Ahoy! is the only insurance company that provides free, proactive risk-reduction technology designed to prevent boating mishaps, as well as seamless digital claims processing for faster resolutions. Additionally, Ahoy! offers broad navigational coverage in its E&S product, including the option for worldwide protection, ensuring boaters are covered wherever their adventures take them.

UNDERWRITING: Considerations include vessel age, size, value, speed and location. Rates are customized based on these risk factors and technological integrations that enhance safety. The application process is fully digital, allowing for quick quoting and binding.

TERRITORY: The E&S coverage is available across all 50 states and U.S. territories, while also having the option for worldwide navigation coverage. Ahoy! is licensed to sell its admitted product in all states except Alaska, Hawaii, Louisiana, Massachusetts, Mississippi and New Jersey.

CONTACT: For agent and broker related questions, contact, Bob Jones, vice president of distribution, Ahoy! Insurance on 615-556-6699. For underwriting and insurance product questions, contact Kaenan Hertz, chief insurance officer, Ahoy! Insurance on 917-288-2530. 

Will Jones is IA editor-in-chief.