About a year ago, we began searching for a reliable company that sold comprehensive “extended service” contracts on boats, engines, and marine equipment at a fair price. After months of investigation, we found a terrific company and now we are partnering with them to offer you what we think is the best program in the industry.
The SeaSafe extended service policies were designed by boaters for boaters, and offer you a wide menu of products including engine coverage and components coverage policies that are available for small boats to 65-footers.
“Extended Service contracts” are increasing in popularity and a number of companies are in the market with products. However, service, reliability, coverage, and price vary greatly. The company that we discovered -- and have now partnered with, – is “SeaSafe Group, LLC” ™, the marine marketing arm of Interstate National Dealer Services, one of the largest warranty and service contract providers in the U.S.
The company has been in business for over 25 years, has sold over 2 million service contracts, and has paid out over $500 million in claims over the years. It has been listed three times as a “Forbes Magazine Top 200 Company,” and all contracts are reinsured by an A.M. Best rated insurance company (“A” Rated).
SeaSafe Group™ policies offer the most comprehensive coverage of any of the extended service companies which are in the marine market today. The company is located in New York State (which we like because it has tough insurance and consumer protection laws), we have visited their claims center which is in Mitchel Field, Long Island (not Timbuktu) and is part of the insuring company, not a third party like so many insurance providers (this eliminates claims finger-pointing and buck-passing). We have visited their offices (utilitarian, not posh, which means the money is going into the insurance not fancy offices and eye-wash), and have met their top management (boatmen who are familiar with problems in the boat industry).
In addition to general boat and engine coverage, SeaSafe Group offers extended service coverage on the following systems—
Trailer Pak: Coverage of breaks, frames, welds, axels, couplers, rollers, etc
Cruising Pak: Coverage of a/c units, appliances, heads, electrical, lights, hardware, instruments, helm and throttle controls and much more.
Runabout Pak: Coverage of depth sounders, electrical, stereo, water systems, instruments, trailers and much more.
Power Pak: Covers the engine, electrical aspects of it, closed cooling systems and electrical aspects of the generator and more. See policy for details.
Ski Boat Pak: Covers electrical, water ballast system, hardware, instruments, stereo, trailer and more.
Nav Pak: Covers radar, gps, chart plotters, auto-pilots, vhf radios and more.
Sailboat Cruising Pak: Covers a/c units, water systems, appliances, hardware, instruments, electrical and much more.
Added Benefits with all polices when covered components fail (See individual policies for details)--
Extended service contracts are not applicable to boats older than 9 years from January 1, 2007, however with proof of purchase of NEW equipment, engine(s), generator, and electronics; you CAN get specific coverage. Depending on the age of the boat or equipment you can buy protection from 1 to 5 years.
The best time to buy an extended service contract is when the boat or equipment is new and still under the OEM’s warranty. Then it is less expensive than if you buy coverage later. If you are planning on keeping your new boat longer than its warranty period, then we highly recommend that you consider extended service contracts. All SeaSafe Group™ policies are transferable.
Selling Your Boat?If your boat is model year 1998 or newer, for example, you will increase the chances of selling YOUR boat and selling it for MORE if you have a SeaSafe Group™ extended service contract. Industry figures show that used boats for sale with an extended service contract are 30% more likely to sell than ones without and furthermore, consumers are willing to pay an extra 10% for boats that have a service contract included in the sale. So if you are thinking about selling your boat, consider a SeaSafe Group™ policy.