APPLICANT’S STATEMENT AND SIGNATURE
This notice is given in compliance with the Federal Fair Credit Reporting Act (Public Law 91-508) and the Consumer Credit Reform Act of 1996. I
understand that as part of the Company’s underwriting procedure, a routine inquiry may be made which will provide applicable information concerning
character, general reputation, personal characteristics, mode of living and driving record. Upon written request, additional information as to the scope of the
report, if one is made, will be provided.
I have read this application and the entries on it. I understand that if my watercraft is used for any business or commercial purposes, is used in any official
or pre-arranged race, contest or event, is rented or leased to others, or is being held for sale, that this type of usage will void the obligation of the Company
to cover any claims that might occur. I understand that if an ACV policy is purchased, the maximum limit for hull coverage is the actual cash value (ACV) at
the time of the loss or the stated ACV above, whichever is less. The foregoing statements made and signed by the owner(s) represents the information set
forth as correct and a true basis on which insurance may be granted but in no way binds the applicant to accept quotation or insurers to accept risk.
FRAUD WARNING: It is a crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of
defrauding the company. Penalties include imprisonment, fines, and denial of insurance benefits. Your state may have specific warnings
against filing false claim information. If your boat is located in AZ, CA, NY, OR or PA, please read state specific fraud warnings below.
AZ
For your protection Arizona law requires the following statement to appear on this form. Any
person who knowingly presents a false or fraudulent claim for payment of a loss is subject to
criminal and civil penalties.
CA
For your protection California law requires the following to appear on this form: ANY PERSON WHO KNOWINGLY PRESENTS A FALSE OR
FRAUDULENT CLAIM FOR PAYMENT OF A LOSS IS GUILTY OF A CRIME AND BE SUBJECT TO FINES AND CONFINEMENT IN STATE
PRISON.
NY
Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of claim
containing any materially false information, or conceals for the purpose of misleading, information concerning any fact material thereto, commits a
fraudulent insurance act, which is a crime, and shall also be subject to a civil penalty not to exceed five thousand dollars and the stated value of the claim
for each such violation.
OR
Any person who knowingly presents a false or fraudulent claim for the payment of a loss is guilty of a crime and may be subject to fines and confinement
in state prison.
STATE SPECIFIC
PA
Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of a claim
containing any materially false information or conceals for the purpose of misleading, information concerning any fact material thereto commits a
fraudulent insurance act, which is a crime and subjects such person to criminal and civil penalties.
AK
In connection with this application for insurance, we will review the unit owner’s credit report or obtain or use a credit-based insurance score based on
the information contained in that credit report. We may use this information to decide whether to insure you or how much to charge. We may use a third
party in connection with the development of your insurance score.
CT
In connection with this application for insurance, we will review the unit owner’s credit report or obtain or use a credit-based insurance score based on
the information contained in that credit report. We may use this information to decide whether to insure you or how much to charge. We may use a third
party in connection with the development of your insurance score.
KS
To offer you an accurate quote in connection with this application for insurance we will review the unit owner’s credit report or obtain or use a credit-
based insurance score based on the information contained in that credit report. We may use a third party in connection with the development of your
insurance score. Future reports may be used to update or renew your insurance. The company has established an internal appeal process allowing you to
provide documentation to establish the existence and duration of personal circumstances justifying that certain adverse credit information not be used.
NM
In connection with your application for insurance coverage, we may review and use information contained in the unit owner’s credit report to help
determine your premium or your eligibility for coverage. Future reports may be used to update or renew your insurance.
NY
In connection with this application for insurance, we will review the unit owner’s credit report or obtain or use a credit-based insurance score based on
information contained in that report. An insurance score uses information from the credit report to help predict how often you are likely to file claims
and how expensive those claims will be. Typical items from a credit report that could affect a score include, but are not limited to, the following:
payment history, number of revolving accounts, number of new accounts, the presence of collection accounts, bankruptcies and foreclosures. The
information used to develop the insurance score comes from the following consumer reporting agencies: Experian, TransUnion, or Equifax. Future
reports may be used to update or renew your insurance.
STATE SPECIFIC INSURANCE SCORE NOTIFICATIONS
WV
Your credit information is used by Markel American Insurance Company to produce a credit score. This credit score has an effect on the premium that
you pay for your insurance. Markel American Insurance Company is required by the Insurance Commissioner to recheck your credit information no less
than once every 36 months for changes. You have the option to request that Markel American Insurance Company recheck your credit score more
frequently than once every 36 months, but you can only make this request once during any twelve-month period. If there has been a change in your credit
score, Markel American Insurance Company shall re-underwrite and re-rate the policy based upon the current credit report or credit score. The change in
your credit score may result in an increase or a decrease in the premium that you pay for your insurance. Any changes in your premium will take place
upon renewal if your request is made at least 45 days before your renewal. If the request is made less than 45 days before your renewal date, the insurer
shall re-underwrite and re-rate the policy for the following renewal.
Applicant ‘s Signature: ________________________________________________________ Date: _______________
Producer’s Signature: _________________________________________________________ Date: _______________
Producer’s Name (please print)_____________________________________________________________ Producer’s License No. (required in FL) __________________________
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