| How does my agency become contracted? |
|
Call or email the Fritsch Kinney Agency:
Phone: 888-417-BOAT
Email: marineinsurance@f-k-agency.com
We will email you an electronic contract that same day.
You provide us with a user name and signature, along with a copy of your most recent E&O policy and you are ready to begin quoting!
|
|
| What is a Managing General Underwriter? (MGU) |
|
The Fritsch Kinney Agency has been appointed by Frankenmuth as an MGU to sell Yacht policies to boat owners as well as to contract with other Frankenmuth agencies to market the yacht product.
|
|
| What is the difference between a yacht and a boat? |
|
A yacht is a vessel that is 26 feet or greater.
A boat is a vessel less than 26 feet.
|
|
| Why should I quote my insured with the Frankenmuth Yacht program? |
|
Frankenmuth is able to offer superior coverage and lower rates by limiting navigation to the Great Lakes and smaller Midwest lakes.
We are completely invisible to your clients; all of the paperwork is done on Frankenmuth paper.
|
|
| How long does it take to receive a quote? |
|
In most cases -- the same day. Less than 24 hours.
|
|
| What kind of yachts and boats can we quote? |
|
All yachts greater than 26 feet.
All vessels $30,000+ in value and greater
We do not have a market for offshore hulls including Cigarette, Fountain, Baja and Powerquest boats!
|
|
| What type of boat owner may be quoted? |
|
Boaters who have owned at least one previous vessel for three years claim free.
If they do not meet his criteria they will simply have higher deductibles.
Those who have completed any formal boater training (Coast Guard Auxiliary, Power Squadron) will receive a discount.
|
|
| What type of policy am I offering? |
|
An all-risk, "agreed value" policy. This policy will give your insured the assurance that they will be paid for their loss without deduction for depreciation.
Remember "agreed value" is not the same as "actual cash value" where losses are paid subject to depreciation!
|
|
| What is included with the Frankenmuth Agreed Value policy? |
|
Liability coverage: The protection and indemnity (liability) feature of a yacht policy provides broad coverage designed to shield you from the effects of maritime law. It includes salvage and uninsured boater coverage.
Medical payments: the policy will pay up to the specified limits if someone is accidentally injured while in or upon, boarding or leaving, your yacht.
Towing and Assistance: this coverage is provided with no deductible
Optional coverage: liability limits up to $1,000,000. Also, bubbling for in-water lay-up periods at approved times.
|
|
| Where can I look at a copy of the Frankenmuth Yacht policy? |
|
Click HERE. (have a link to policy)
|
|
| When does the vessel need a survey? |
|
A new risk on a vessel 8 years or older must have a current survey.
Every vessel over 10 years of age must have an updated survey every 5 years.
|
|
| Who are some surveyors that I can have our insured contact? |
|
| Jack Morman | Thompson & Morman (586) 469-3898 |
| Michael Thompson | Thompson & Morman (313) 924-9444 |
| John Trost | Trost Associates (313) 884-3955 |
For S.A.M.S. surveyors in your local area call: (800) 344-9077
|
|
| What are lay-up dates and when do they apply? |
|
The lay-up date is when the vessel will be out of commission for the season and not used for navigating purposes.
In Michigan boat owners usually have a 5 to 7 month lay-up date between the months of October and May.
The fewer months of navigation the less the risk of property damage and thus a lower premium.
|
|
| What do I do when my insured needs an endorsement or reports a loss? |
|
Contact the Fritsch Kinney office: 888-417-BOAT
|
|
| What is a compliance letter? |
|
A compliance letter is a signed commitment by an insured that the recommendations made on a marine survey will be complied with by a specific date. The survey, the compliance letter and the application all form a warranty where an insured guarantee the facts are as stated to keep the policy effective.
|
|
| If a customer sells his boat mid-term, does he receive a return premium with the yacht policy? |
|
Yes!
|
|
| Who do I contact if I have any technical boating questions? |
|
Chris VanTol
Eric Kinney
Connie Pallante
Vickie Schmidt
Phone: 888-417 BOAT
Email: marineinsurance@f-k-agency.com
|
