Insurance Terms Glossary
Typically sold as a package policy comprised of physical damage (hull), personal injury and liability coverages. Protects from the risks associated with owning and operating a watercraft.
Whole Life Insurance
A type of life insurance that continues until the insured stops making payments or dies.
Coverage for self-inflicted or intentional injuries to others are usually excluded from most insurance policies.
Workers' Compensation Coverage
A system of compensation for work-related injuries or death, paid for by employer compensation insurance contributions. All employers must have worker's compensation insurance of some kind.