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In the boat and yacht market, there's smooth sailing ahead

Savvy agents and brokers can take advantage of carriers healthy appetites in this market, where low gas prices helped buoy sales of recreational watercraft in 2015.

By Michael P. Voelker | Updated on March 15, 2016

As summer approaches, boat owners look forward to spending weekends cruising lakes and waterways. However, this past winter served as a reminder that a boat doesn’t have to be at sea to be at risk: January snows collapsed docks and boat slip roofs at marinas in Kentucky, severely damaging hundreds of boats and even pushing several craft past the point of reclamation.

Fortunately for insurers, these types of claims have not been enough to turn the tide of profitability they have enjoyed in recent years. “We had just a phenomenal season [in 2015] for boating, with no significant catastrophes,” says Todd Shasha, managing director of Travelers’ personal insurance boat and yacht unit.

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