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ShoreGuard, the UK’s only specialist marine warranty, breakdown and assistance company has announced a major extension and development of its marine warranty product designed to offer greater flexibility and value for money for brokers purchasing warranties for brokerage or stock second-hand boats. New warranties will offer greater flexibility of price, policy restrictions – such as excesses, claim limits, age of vessel, area of cover and customer support.
ShoreGuard Managing Director Nick Hamilton said, “When we introduced engine warranties to the marine market in September 2006 brokers saw the benefit of second-hand boats being offered for sale with a valid engine warranty through enhanced residual values to peace of mind for the purchaser. Thus many brokers have bought engine warranties for stock boats and are recommending vendors to consider a warranty for brokerage boats to give confidence in the boat’s quality and reliability.”
“After eighteen months we are now able to introduce major improvements to the product on offer. The ShoreGuard warranty is more realistically priced, less restrictive in its format and operation and more importantly is simpler for brokers wishing to actively sell and promote the product directly to their clients.”
The improvements are many but of key importance to brokers is the widening of the scope for older boats with the removal of the age banding where engine hours can be quantified with an extension to the engine hours for a standard policy from 750 hours to 2,500 hours. Cover can be extended up to 10,000 hours (subject to payment of an additional fee).
The annual cost of every policy as well as policy excesses have been significantly reduced and the claim limit increased from £20,000 to £30,000. Previous warranties included breakdown assistance and recovery support but many enquiries have been for a stand-alone warranty product. The new ShoreGuard engine warranty can now be purchased in isolation, with boat breakdown assistance and recovery offered as an optional extra.
In recognition that so many owners take their boats outside their country of residence, there are two levels of cover now available. Home Use covers use of the vessel within the policy-holder’s EU country of residence; EU Use provides additional cover within any EU country.
In the event of a claim, policy-holders will now be able to deal directly with ShoreGuard’s experienced support team based in Dorset.
For your FREE no-obligation quote please:
call Tom on +44 (0)23 8045 8866 or,
email tom@inwardsmarine.com
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