Ahoy! Insurance Announces Yacht Underwriting Offering

The new program expands Ahoy! Insurance's offering to cover all 50 states, and up to $2.5 million in value for boats up to 95 feet.

NEW YORK, Aug. 6, 2024 /PRNewswire/ -- Ahoy! Insurance, the tech-driven insurance provider built by boaters for boaters, today announced that it has significantly expanded its offering to boaters and agents, expanding its geographic coverage, insured value limits, and boat sizes. The new offering allows millions of larger boat owners to purchase Ahoy! Insurance's highly regarded, tech-driven, and user-friendly boating insurance for the first time.

The expansion of coverage comes at a critical time for owners of larger boats domiciled in the US,  as they have faced dwindling options with traditional, large insurance carriers that struggle to accurately assess risk retreating from this marketplace. Ahoy! Insurance's offering fills the gap with speed criteria for qualifying boats and provides coverage limits of up to $2.5 million and a size of 95 feet. The new Yacht offering is available across all 50 states and US Territories.

Some of Ahoy! Insurance's key differentiators are: 

• Straightforward  underwriting, enabling a quote can be turned around in under a day
• The industry's most user-friendly onboarding and operating experience for brokers and agents
• Peace of mind with the new offering underwritten by certain underwriters at Lloyds

"The expansion of our highly rated product into the larger boat category while large legacy insurers pull out is a testament to both our substantial advantage in assessing risk, as well as the reputation of the product itself," said Kaenan Hertz, Ahoy!'s Chief Insurance Officer. "Brokers and agents will finally be able to offer the type of seamless tech-infused experience boaters are accustomed to elsewhere in their lives, with the features boaters love. All while enjoying the peace of mind of a large, well-respected insurance giant - Lloyd's. It's really a huge deal for a whole new category of boaters, and we're excited to serve them."

About Ahoy! Insurance:
Ahoy! is a tech-driven insurance company transforming the recreational boating insurance industry from being a financial hedge into becoming a proactive asset that protects and extends the joy of boating. Built by boaters for boaters, Ahoy! combines its proactive, risk-reducing technology with its founders' deep knowledge of boating and insurance to create innovative insurance policies for the 21st century. Using on-board Internet of Things (IoT) technology, as well as AI and Big Data, Ahoy! offers a proprietary risk reduction solution to prevent boating mishaps proactively, therefore increasing the time boaters can enjoy their vessel. In times of need, Ahoy! ensures swift, modern, and non-intrusive assistance and claims processing support so that boaters can be back on the water in no time. Co-founded in 2021 by a team of naval veterans, insurance experts, and experienced high-tech executives Amit Nisenbaum, Kaenan Hertz, and Shachar Segev. Ahoy!, which is licensed to sell property-casualty insurance products, has offices in New York and Israel. For more information, visit: https://www.ahoy.insure/ 

Media Contact:
Martin Jordana
Strauss Communications
[email protected] 

SOURCE Ahoy!