Island Heritage Insurance Company, Ltd., (“Island Heritage”) announced today the addition of marine insurance to its suite of insurance products. A leading provider of property, casualty, motor and commercial insurance across the Caribbean, Island Heritage is now extending the range of personal insurance products offered to the Cayman consumer.
Glen Gibbons, General Manager of Island Heritage, explains: “The introduction of our new Yacht Cover product reflects the careful consideration we give to the needs of our customers. By offering marine insurance to the Cayman boating community, Island Heritage is providing additional peace of mind for boat owners who spend a considerable amount of money and time on their hobby.”
Through its parent company BF&M Limited, the leading Bermuda-based insurance provider, Island Heritage brings over 100 years of experience in marine insurance to the Cayman Islands. Mr. Gibbons, who moved to Cayman recently after 30 years with BF&M Limited, added, “Our local underwriting team is excited about the new product and is ready to work with customers to tailor a policy to suit their varied needs.”
Island Heritage recommends that every boat owner be covered, at a minimum, by third party insurance to protect their legal liability to third parties against injuries or property damage. Comprehensive boat insurance extends protection for boat owners from risks like fire, theft, sinking, weather damage, or collision. Without insurance protection, boat owners face having to assume the entire cost to repair or replace their boat should it be damaged or lost, as well as the cost of potential injury to other people or their property.
Mr. Gibbons concluded: “While not required by law, in our opinion adequate marine insurance is essential for boat owners. A common perception is that any added expense to owning a boat is something to be avoided. That’s a perception we’d like to try to change. We encourage customers to get a quote to see just how affordable their policy could be. At Island Heritage, we offer flexible payment plans for all of our insurance policies.”
For more information on how Island Heritage can assist you with your boat or other insurance needs, visit www.islandheritageinsurance.com or ask your insurance broker.