ARIC_WatercraftRules by CcX6G7

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									      AMERICAN RELIABLE INSURANCE COMPANY
  FLORIDA PERSONAL WATERCRAFT PROGRAM GENERAL
                     RULES

RULE 1.   ELIGIBILITY:

          This program is applicable to personal watercraft such as Jet Ski, Wet
          Bike and Wave Runner. Unit must be used for pleasure only; no
          commercial or rental usage. The unit may not be modified in any way and
          may not be used for racing.

RULE 2.   DESCRIPTION OF COVERAGES:

          Coverage Type:
          All Risk Physical Damage
          Bodily Injury and Property Damage Liability
          Medical Payments
          Watersports Liability
          Physical Damage Coverage for Trailer
          Accessory Coverage
          Uninsured Boat owners

RULE 3.   POLICY TERM:

          Policy term is six (6) months or twelve (12) months.

RULE 4.   CHANGES:

          All changes requiring adjustments of premium shall be computed pro rata.
          If an outstanding policy is amended and results in an additional premium
          of less than $5, such additional premium may be waived. If the
          amendment results in a return premium of less than $5, such return
          premium may be waived, except that the actual return premium of less
          than $5 shall be allowed at the request of the insured.

RULE 5.   MINIMUM PREMIUM:

          The minimum written and retained premium shall be $100 per policy.
          This minimum premium rule shall not apply if the policy is cancelled by
          the Company (this covers a seasonal product not used 12 months out of
          the year).
RULE 6.    WHOLE DOLLAR PREMIUM:

           The premium for each exposure shall be rounded to the nearest whole
           dollar. A premium involving $.50 or more shall be rounded to the next
           highest dollar.

RULE 7.    PAYMENT OPTIONS/INSTALLMENT BILLING:

           Any policyholder may be given the opportunity to pay by installments.
           All installments will include a $2 fully earned premium installment
           charge. Any policy may be paid in full at the time of application.

RULE 8.    ACCESSORY/TRAILER COVERAGE:

           Actual Cash Value Collision and Other Than Collision (OTC) coverages
           are offered at premium charges as shown in the rate section. A description
           at each accessory (including special paint jobs) and the value of each must
           be indicated with the application.

RULE 9.    AMOUNT OF INSURANCE

           The amount of insurance shall be rounded to the nearest thousand.


RULE 10.   FIXED EXPENSE FEE:

           A fixed expense fee of $25 shall be charged on all new and renewal
           policies.

RULE 11.   CANCELLATIONS:

           When a policy is cancelled at the request of the insured, the unearned
           premium shall be computed at 90% of pro rata. An exception to this rule
           is that a pro rata cancellation shall be allowed as to any unit if the
           insurance on a unit in substitution there of is written in the same company
           within 30 days of the date of cancellation, or if a policy is issued without
           lapse of time on the same unit to a new owner thereof, or if cancellation is
           effected as a result of a repossession under any conditional sale, mortgage,
           lease or lien agreement. If a unit is cancelled from a policy, the policy
           remaining in force on other units, cancellation shall be on a pro rata basis.

           Under payment of a total or constructive total loss under physical damage
           coverage, unearned premium shall be made pro rata for all physical
           damage premiums including the premium for the coverage under which
           the loss was paid.
           If the insured enters the Armed Forces of the United States of America,
           the unearned premium will be computed pro rata.

           If a policy or form of coverage is canceled by the Company, the unearned
           premium shall be computed pro rata.

RULE 12.   DEFINITIONS:

           PERSONAL
           WATERCRAFT           A vessel certified for maximum capacity of four
                                people, maximum overall length of 16 feet, have an
                                inboard engine and propelled by impeller drive/jet
                                drive.

           TRAILER              Limited only to trailers specifically designed for
                                transportation of personal watercraft, includes
                                attached winch and other permanently attached
                                equipment.

           ACCESSORIES          Any optional, added equipment, accessories or parts
                                or utility trailers. Or any special paint or finishes,
                                or other custom work not included as “standard” by
                                the manufacturer even if originally installed at the
                                factory or dealer.

								
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