NAICS Code 524126-08 - Insurance-Boat

Marketing Level - NAICS 8-Digit

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Looking for more companies? See NAICS 524126 - Direct Property and Casualty Insurance Carriers - 3,364 companies, 68,038 emails.

NAICS Code 524126-08 Description (8-Digit)

Insurance-Boat is a subdivision of the NAICS Code 524126 that involves the provision of direct property and casualty insurance for boats and other watercraft. This industry covers a wide range of watercraft, including sailboats, motorboats, yachts, and personal watercraft such as jet skis. Insurance-Boat policies typically cover physical damage to the watercraft, as well as liability for damage or injury caused to others while operating the watercraft. Insurance-Boat companies assess the risk associated with insuring a particular watercraft and determine the appropriate premium to charge based on factors such as the type of watercraft, its age and condition, and the experience and safety record of the operator. In the event of a claim, Insurance-Boat companies investigate the circumstances of the incident and determine the appropriate payout to the policyholder.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 524126 page

Tools

Tools commonly used in the Insurance-Boat industry for day-to-day tasks and operations.

  • Risk assessment software
  • Claims management software
  • Underwriting software
  • Actuarial tables
  • Insurance rating manuals
  • Loss control manuals
  • Insurance policy forms
  • Insurance policy rating algorithms
  • Insurance policy issuance systems
  • Insurance policy renewal systems

Industry Examples of Insurance-Boat

Common products and services typical of NAICS Code 524126-08, illustrating the main business activities and contributions to the market.

  • Sailboats
  • Motorboats
  • Yachts
  • Personal watercraft
  • Houseboats
  • Fishing boats
  • Pontoon boats
  • Canoes and kayaks
  • Jet boats
  • Cabin cruisers

History

A concise historical narrative of NAICS Code 524126-08 covering global milestones and recent developments within the United States.

  • The "Insurance-Boat" industry has a long history dating back to the 17th century when the first marine insurance policy was issued in England. The industry has since grown and evolved, with notable advancements such as the introduction of standardized policies and the creation of specialized marine insurance companies. In the United States, the industry saw significant growth in the 20th century, with the establishment of the American Institute of Marine Underwriters in 1898 and the formation of the National Association of Marine Underwriters in 1913. The industry has continued to adapt to changing market conditions and technological advancements, with the introduction of new products such as cyber insurance for boats and the use of drones for risk assessment.