BayRisk has a long and proud history of providing the very best in recreational and commercial marine coverages.  Our trade name Tedrick-Higbee has been around the "wet" world for over 30 years. Please feel free to contact us about any of your marine insurance needs.  We have the knowledge and experience to give you true value for your boating insurance dollar.

Agreed Value: The Agreed Value is the fair market value of the vessel that is agreed upon between the insured and the insurance carrier. Under Agreed Value policies, if there is a total loss, then the full agreed value is paid without any depreciation. When there is a partial loss, the company will replace old equipment with new to bring the vessel back to its condition prior to the loss.

All Risk: An All Risk policy provides very broad coverage. Insurance is provided for any loss or damage unless it is specifically excluded.

Deductible: The deductible is the portion of a loss that is the responsibility of the insured. There is an inverse relationship between deductible and premium. The higher the deductible, the lower the premium. The hull deductible is typically 1% of the hull value. Credits up to fifteen percent of the hull premium are available for higher deductibles. Lower deductibles are assigned for specific equipment such as personal property, electronics, and dinghies. These lower deductibles are separated from the hull deductible, and therefore, reduce your exposure to a loss.

Exclusions: Typical broad exclusions include dishonest, intentional, and illegal acts, fraud, wars, seizures, and nuclear radiation. The marine exclusions include wear and tear, deterioration, corrosion, osmosis, electrolysis, or design defects. Check with your agent for a full list of exclusions that apply to your specific policy.

Lay-up Warranty: A lay-up period defines the months that the vessel is out of active service. During the lay-up period the vessel is out of commission and is not used for any boating activities. In New England, the typical lay-up period is from November 1st to April 1st. Credits are available for longer lay-up periods.

Medical payments: Provides coverage for medical, ambulance, and hospital costs should someone be injured while boarding, leaving, or upon your vessel.

Navigational Warranty: The policy defines the navigational limitations by a navigational warranty that specifies dates and geographic locations. For instance, a navigational warranty may limit navigation north of Cape Hatteras, North Carolina during the hurricane months of June 1st to November 1st.

Pleasure Use Warranty: If a policy is written for a pleasure craft then it is subject to a pleasure use warranty which means the vessel may not be chartered. Charter endorsements are available to broaden coverage for commercial purposes.

Protection and Indemnity: This is the liability portion of the marine policy. Typical limits range from $100,000 up to $1 million or more. Protection and Indemnity will cover you if you are sued for negligence, causing damage to another vessel, or injury to an individual. It provides protection for property or personal injury damages to someone other than yourself or a family member. Under the private pleasure policy, it is not subject to a deductible.

Seaworthiness Warranty: The seaworthiness warranty requires that the vessel be maintained in a seaworthy condition at all times. This means the vessel must be in good repair so that the vessel will not be damaged by the normal rigors of the sea.

Uninsured Boaters: The uninsured boaters portion of the policy provides accidental bodily injury protection for injuries caused by an uninsured boater.

All Risk Physical Damage insurance

Agreed value paid on total loss (no depreciation)

Boating liability coverage options of $100,000, $300,000, $500,000, or $1,000,000

Liability coverage includes Pollution Liability equal to liability limits of policy at no charge

Automatic Liability coverage for water-skiing

Automatic coverage for newly-acquired boats for 30 days (max. value $250,000)

Automatic Liability coverage for operating Non-Owned Boats

Uninsured/Underinsured Boaters Liability coverage

Automatic coverage for Longshore and Harborworkers Compensation at no charge

$10,000 coverage for Medical Expenses

Free coverage for $750 worth of Personal Property

$500 Emergency Towing and assistance available Sponsored by West Marine Product, Inc.Underwritten by St. Paul Fire and Marine Insurance Company Administered by McGriff, Seibels, and Williams Insurance Agency (CA license #0833710)

All Risk Physical Damage insurance

Automatic Liability coverage for waterskiing

$1,000 Medical Expenses coverage included at no charge. Higher limits available.

Uninsured/Underinsured Boaters Liability coverage equal to liability limits of policy

Automatic coverage for newly acquired Personal Watercraft for 30 days

Liability coverage includes Pollution liability at no charge

Optional trailer coverage

Coverage applies anywhere in the U.S.

Safety: Equipment Discounts are available for safety equipment. If your boat is equipped with any of the following, check with your agent or broker to see if you qualify: GPS, Ship to Shore, VHF, Depth Sounder,Halon system, Fume detector, Alarm System and Loran.

Boating Safety Courses: If you have taken the Coast Guard certification course, check with your current company as to the availability of a discount.

Select an INDEPENDENT INSURANCE AGENT: An independent insurance agent represents many companies and is not confined to any one carrier. Therefore, an independent agent understands the insurance market and can recommend a policy that provides you the best value in terms of coverage and price.

The advantage of a MARINE INSURANCE SPECIALIST: A Marine Insurance Specialist is committed to providing boat insurance, and therefore is an expert with all aspects of marine insurance. A Marine Insurance Specialist understands the needs and concerns of the boater and is the best choice because of their knowledge and experience. Besides insurance for Private Pleasure vessels, a Marine Insurance Specialist may offer coverage for Charter vessels, Charterers Legal Liability, Boat Dealers, Marina Operators, Passengers and Fishing vessels.

Understand your POLICY: The two most important policy features are AGREED VALUE and ALL RISK. "Agreed Value" means that if there is a total loss, then the full agreed hull value is paid without any depreciation. On partial losses, the company will replace old with new and some equipment may be subject to depreciation. "All Risk" means the policy covers the perils of the sea unless specifically excluded. Your agent should provide depreciation schedules, exclusions, and details of your policy.

Review your NAVIGATIONAL LIMITS and ENDORSEMENTS: Verify that your navigational limits are correct so that you receive the proper rating. It is important to confirm that your policy coincides with your intended use of the boat. Endorsements to the standard yacht policy are required for special conditions such as extended navigation, chartering, and crewed vessels. If you are planning an extended trip, make certain it is endorsed to your policy. A call to your agent will confirm and guarantee coverage.

Make sure your carrier is "A" RATED: Independent rating services evaluate the financial stability of the insurance companies. The financial stability of your carrier may affect their ability to pay claims and remain in business. Research your company's rating or have your agent do it for you. A good independent agent will have company ratings on file.

Evaluate your DEDUCTIBLE: Discounts are available up to fifteen percent of the hull premium for higher deductible limits. Review your deductible so that it is suitable to your approach to risk.

Apply for DISCOUNTS: You may be eligible for premium credits if you have a safe driving record, safety equipment on board, a loss free history of boating, or if you have completed a Coast Guard or Power Squadron boating course.

Distinguish between VALUE and price: When shopping for a policy make certain you consider all the variables. Not all policies are alike. If you find a significantly lower price there may be a reason. Have your agent describe the differences between policies and review them so that you understand your policy limitations.