PURE Announces Expansion of Watercraft Insurance Offering

WHITE PLAINS, N.Y., Sept. 10, 2012 /PRNewswire/ -- Privilege Underwriters Reciprocal Exchange (PURE), the member-owned property/casualty insurer dedicated to serving the needs of responsible owners of high-value homes and property, has announced an expanded appetite to insure members' watercraft, backed by a newly automated quoting and policy issuance system that delivers enhanced convenience for agents and members. PURE's watercraft coverage is offered across 38 states, and is available for a range of vessels, including powerboats, sailboats and luxury yachts valued up to $3 million.

"By offering members with a range of vessels access to our watercraft insurance and enabling our agents to quote policies directly from our policy issuance system, we can provide greater ease of doing business to all parties," said Martin Hartley, chief operating officer of PURE. "Members that bundle their PURE policies enjoy premium credits and the added convenience of a single renewal date and bill; agents benefit from the increased efficiency of our newly integrated quoting system."

High Quality Coverage and Service for Watercraft Owners
PURE is known for providing members with some of the broadest and most comprehensive coverage in the industry. PURE's Watercraft Insurance includes the coverage features and benefits that watercraft owners are looking for:

• Multiple Vessels, One Policy. PURE offers members the convenience of a single policy and billing statement, regardless of the number of insured vessels, their navigational territory or their primary berthing location.
• Agreed Value. In the event of a total loss, PURE will pay the coverage amount listed on the policy, without applying a deductible. PURE will not waive the deductible in the event that a hurricane deductible or other special deductible applies.
• Replacement Cost. Following a partial loss, PURE will pay to repair a damaged vessel without deducting for depreciation. Actual Cash Value coverage may apply for sails, outboard engines, canvas and batteries that are more than three years old, as well as for vessels that are for sale.
• Navigational Limits. Whether navigating close to home or far away, PURE offers coverage for all cruising itineraries.
• Emergency Towing & Assistance. If a vessel becomes disabled – even if it is caused by an event not covered by the policy – PURE will pay the towing and emergency assistance costs without application of a deductible.
• Liability Protection. PURE provides coverage for legal defense costs, damages, pollution clean-up and containment, wreck removal and Jones Act coverage for paid crew.
• Personal Effects. If personal property or fishing equipment is damaged or stolen from a vessel, PURE will pay to repair or replace it.
• Hurricane Haul-Out. PURE will reimburse haul-out and storage expenses that a member incurs to protect their vessel from a named storm.

PURE also offers the services of Member Advocates, who are available to help members with the administrative hassles associate with the claims and risk management process. Due in part to the services offered by their Member Advocates, following a claim, 98% of PURE members have stated that they would recommend PURE to a friend or family member.

About PURE
For promotional purposes, PURE refers to the members of the PURE Group of Insurance Companies. PURE Group is rated "A-" (Excellent) by A.M. Best Company. Insurance coverage is underwritten through Privilege Underwriters Reciprocal Exchange, a Florida-domiciled reciprocal insurance exchange and member of the PURE Group. PURE provides coverage for high-value homes, automobiles, jewelry, art, personal liability and watercraft to more than 16,000 successful families in 38 markets across the U.S. and is committed to helping its members (policyholders) reduce the price of insurance today while controlling their long-term cost of risk. In return for a fee, PURE Risk Management, LLC acts as Attorney-in-Fact for PURE.  For more information, visit pureinsurance.com.

SOURCE Privilege Underwriters Reciprocal Exchange (PURE)