Over-the-Side Insurance for Ocean-going Equipment
Over-the-Side (OTS) insurance will provide you with an insurance endorsement to WHOI's OTS insurance policy for equipment used in the field during at sea expeditions. Coverage includes both while on deck and over the side. You will want to include all days at sea in the project start/end dates because transit coverage ends when the equipment is loaded onto the deck of the vessel and does not resume until it is offloaded from the vessel at the end of the cruise.
New Rates for 2016!!
WHOI has a new insurer for 2016 with new rates and structure. The new premium rate for equipment declared for short term coverage is $10.00 per $100 of valuation per annum, prorated to the number of days requested plus 4% for surplus lines tax. There is a $1,000 minimum charge. The deductible is 15% of declared values per occurrence with a $25,000 minimum and $450,000 maximum.
To request a quote for over the side insurance see the Over the Side Request Page.
See the Over the Side Insurance FAQ's for answers to frequently asked questions.
If your equipment is in regular use throughout the year, you can add it to the Schedule of Equipment for a rate of $3.85 per $100 of value per annum prorated plus 4% surplus lines tax. Once an item is scheduled it must remain scheduled for the rest of the year. Deductibles apply as for short term declarations. Please contact the Risk Management Coordinator for details and to schedule equipment. Scheduled equipment is covered while in transit, on deck and while over the side as well as while in storage or at WHOI.
Please note: scheduled equipment is automatically covered for transit. Please do not enter values when making a shipping request for scheduled equipment!
Last updated: January 13, 2016