Equipment Property Program (Inland Marine)
Download the Application
Affordable Member-Only Rates:
Your annual premium for this coverage is easy to compute: Take your Total Replacement Cost Value (TRCV) x 0.03 ($10,000 under value) or TRCV x 0.026 (greater than $10,000 value). There is a minimum premium of $100.
Team gear can be expensive, but insuring it doesn’t have to be. In addition to Combined Liability and Accident Insurance Coverage, you can now also apply for affordable Equipment Insurance. This coverage is an NRPA exclusive – available ONLY to NRPA Members. (You may apply for this Equipment Coverage even if you do not apply for the Combined Coverage.)
Equipment Insurance Highlights
This insurance provides coverage for your inventory of sports equipment under replacement cost value. It covers all equipment owned by the insured organization while in the building specified for storage.
Common perils covered:
- $250 – for equipment with a total value under $10,000
- $1,000 – for values of $10,001 to $100,000
- Values over $100,000 quoted upon request
You must insure the full replacement value of the equipment (100% co-insurance). With 100% co-insurance clause, you are agreeing to accept a penalty if a covered loss occurs and all of your equipment and contents are not insured to their replacement cost value. For this reason, it is vital that the values of your equipment and contents be accurately reported and updated annually to reflect inflation and other increases in cost. If they are undervalued, a c-insurance penalty may be applied at the time of a loss. The penalty equals the difference between the amount of the loss and the amount actually paid by the carrier.
Notable exclusions: “wear and tear”; mechanical breakdown; mysterious disappearance; criminal, fraudulent or dishonest acts.