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PURE Announces System Automation of Watercraft Insurance Offering

August 9, 2012

White Plains, New York – September 10, 2012 - Privilege Underwriters Reciprocal Exchange (PURE), the member-owned property/casualty insurer dedicated to serving the needs of responsible owners of high-value homes, has announced significant upgrades to ‘PURE Insurance Online,’ its quoting and policy issuance system, which will allow agents to quote watercraft insurance policies more seamlessly. Watercraft coverage is offered across 38 states, and is available for a range of watercraft, including powerboats, sailboats and luxury yachts.

“By offering members across the country access to our watercraft insurance and enabling our agents to quote policies directly from our policy issuance system, we can provide greater ease of doing business to all parties,” said Martin Hartley, chief operating officer of PURE. “Members that bundle their PURE policies enjoy premium credits and the added convenience of a single renewal date and bill; agents benefit from the increased efficiency of our newly integrated quoting system.”

High Quality Coverage and Service for Watercraft Owners

PURE is known for providing members with some of the broadest and most comprehensive coverage in the industry. PURE’s Watercraft Insurance includes the coverage features and benefits that watercraft owners are looking for:

  • Agreed Value. In the event of a total loss, PURE will pay the coverage amount listed on the policy, without applying a deductible. PURE will not waive the deductible in the event that a hurricane deductible or other special deductible applies.
  • Replacement Cost. Following a partial loss, PURE will pay to repair a damaged vessel without deducting for depreciation. Actual Cash Value coverage may apply for sails, outboard engines, canvas and batteries that are more than three years old, as well as for vessels that are for sale.
  • Navigational Limits. Whether navigating close to home or far away, PURE offers coverage for all cruising itineraries.
  • Emergency Towing & Assistance. If a vessel becomes disabled – even if it is caused by an event not covered by the policy – PURE will pay the towing and emergency assistance costs without application of a deductible.
  • Liability Protection. PURE provides coverage for legal defense costs, damages, pollution clean-up and containment, wreck removal and Jones Act coverage for paid crew.
  • Personal Effects. If personal property or fishing equipment is damaged or stolen from a vessel, PURE will pay to repair or replace it.
  • Hurricane Haul-Out. PURE will reimburse haul-out and storage expenses that a member incurs to protect their vessel from a named storm.

PURE also offers the services of Member Advocates, who are available to help members with the administrative hassles associate with the claims process. Due in part to the services offered by their Member Advocates, PURE members have reported a 98% Claims Satisfaction Rating.

About PURE

For promotional purposes, PURE refers to the members of the PURE Group of Insurance Companies. PURE Group is rated “A-” (Excellent) by A.M. Best Company. Insurance coverage is underwritten through Privilege Underwriters Reciprocal Exchange, a Florida-domiciled reciprocal insurance exchange and member of the PURE Group. PURE provides coverage for high-value homes, automobiles, jewelry, art, personal liability and watercraft to 16,000 successful families in 38 markets across the U.S. and is committed to helping its members (policyholders) reduce the price of insurance today while controlling their long-term cost of risk. In return for a fee, PURE Risk Management, LLC acts as Attorney-in-Fact for PURE. For more information, visit


Editor's Notes:

Interviews with PURE's executives, agents and members may be coordinated. Copies of the A.M Best Company report are available.

This material is descriptive only. The precise coverage offered is subject to the terms and conditions of the policies issued. The rights and responsibilities of members are subject to the Subscriber’s Agreement and Power of Attorney. Coverage may not be available in all jurisdictions. *Average savings as of 12/2011 based on members countrywide who reported savings to PURE since inception. Actual savings, if any, will vary.