US-based speciality insurance broker One80 Intermediaries (One80) has announced the launch of a boat rental insurance offering.

The new liability coverage will be offered in partnership with the insurance technology platform vQuip.

Aimed at individual boat renters, the insurance solution offers coverage in all 50 states of the US.

One80 claims that before the launch of this offering, an individual who rented or chartered a boat had no way to obtain liability insurance for themselves as the operator of the vessel.

One80 national programme practice leader Christopher Pesce said: “As a lifelong boater, marine insurance professional and overall advocate for the marine industry, I am excited to help the industry I am so passionately a part of, keep their doors open and thrive.”

The launch of this new programme also addresses a pressing issue for Florida’s rental boat liveries, who have until 1 January 2023 to comply with new legislation.

The “Boating Safety Act of 2022” mandates rental liveries to have liability insurance that protects both the rental livery and the boat renter.

This new product complies with this requirement, allowing rental liveries to continue operating as per the new law, the insurance broker noted.

vQuip CEO Cam Serigne said: “We are very excited to insure the future of the rental industry through our partnership with One80. This is a big step forward for all involved towards creating a more open and fair rental insurance market.

“Not only does our platform solve for the issue of renters not being able to secure coverage but our platform provides for a seamless integrated approach for a renter to shop and book their rentals while providing critical risk mitigation for the rental facilities by automating, documenting and educating the renter throughout the check out process.”

Last month, One80 purchased an independent insurance agency and technology platform instaCOVER for an undisclosed sum.