One80 launches boat rental insurance

Boston-based specialty insurance broker One80 Intermediaries has launched boat rental insurance in partnership with insurance platform for vacation equipment rentals vQuip . The product provides liability coverage for individual boat renters in all 50 states.

This program solves a critical concern for rental boat liveries in Florida that are facing a deadline to comply with a new law that goes into effective January 1st, 2023. The law, SB606 cited as “Boating Safety Act of 2022” creates a requirement for rental liveries to obtain liability insurance that covers the rental livery as well as the boat renter, which this product satisfies, enabling rental liveries to remain open and in compliance with the new law.

“As a lifelong boater, marine insurance professional and overall advocate for the marine industry, I’m excited to help the industry I’m so passionately a part of, keep their doors open and thrive.” – Christopher Pesce, National Program Practice Leader at One80.

“We are very excited to insure the future of the rental industry through our partnership with One80. This is a big step forward for all involved towards creating a more open and fair rental insurance market. Not only does our platform solve for the issue of renters not being able to secure coverage but our platform provides for a seamless integrated approach for a renter to shop and book their rentals while providing critical risk mitigation for the rental facilities by automating, documenting and educating the renter throughout the check out process. It truly is an end to end solution that adds great value to the consumer and the rental facility.” – Cam Serigne, CEO at vQuip.

Bottom line: Buoy comes to mind.