Boat Insurance
Protect your marine property with boat insurance offered by FirstBank Insurance
Boat Insurance from FirstBank Insurance gives you the peace of mind you look for in order to safely and securely enjoy your favorite pastime. We offer you two alternatives for insuring your boat:
Single Interest Protection:
- The account is paid off in case of total loss.
Annual Insurance:
- Covers the bank and the insured.
- Covers physical damage to the boat.
- Covers public liability.
- Covers medical expenses of the owner and its crew.
- Does not cover funeral costs.
- Includes the Uninsured Boaters Policy. This policy pays a maximum of $5,000 for damages caused to your boat by an uninsured boat.
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The products offered by Firstbank Insurance are not bank deposits. They are not insured by the FDIC or by any other Federal Government agency. Nor are they insured by FirstBank Puerto Rico or by any of its subsidiaries.
Obtaining this insurance policy is optional and not a condition for credit approval. You may acquire the insurance policy either by the agent or a company of your preference. If you already have an insurance policy that covers all risks described here, you may not need additional insurance.
You may cancel this insurance policy during the first 30 days after receiving your certificate and we will reimburse or credit the full amount of the paid premium. The insurance policy may also be cancelled at any other moment. However, if the policy is cancelled after the first 30 days, we will reimburse or credit you the unused portion of your premium. If you finance your premium, it will be subject to the same finance charges as your debt.
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