What it does
Carrier forms schedules list IH 00 65 as the Boat Dealers Coverage Form. ISO publishes this form in its IH series of commercial inland marine forms. IH forms are used within the Commercial Inland Marine Coverage Part, together with the Commercial Inland Marine Conditions (CM 00 01) and the Common Policy Conditions.
Who needs it
Boat dealers whose inventory sits on lots, in showrooms, at boat shows and in water for demonstration.
Quoting and selling notes
Ask for peak inventory, floor plan lender requirements, storage on water versus land, boat show schedules, demonstration rides and hurricane or flood exposure. Dealers also need marina and dealer liability coverage.
Before presenting it
ISO's IH forms are often adopted with carrier changes, and their wording differs from the filed CM forms. Obtain the carrier's specimen and walk the insured through covered property, property not covered, the exclusions, valuation, the deductible and any coinsurance or reporting condition, and match the limits to a current schedule of values.
