What You Should Know About Boat Insurance

 

You have just purchased something you have always wanted, a brand new boat, and you can't wait to get out on the water. Wait a minute, though, before hitting the waves. Don't you think you need boat insurance? You sure do. A boat is a vehicle, and as such can get into mishaps. You need to protect yourself and your boat if the unthinkable suddenly occurs.

Many first time boat owners mistaken believe that their homeowner's policy will cover their new boat. Buying insurance for your boat is much like buying insurance for your car. In fact, many of the companies that sell car insurance will also cover leisure craft such as boats in a separate policy. These policies will also make sure that your financial assets are protected in case you incur an accident and are at fault.

Insurance for boats ranges from several hundred dollars to well over $1,000 depending on your personal history and the type of boat. Several other factors determine cost, including size and type of boat, engine size, expected usage and your personal profile.

Much like home or auto insurance, a boat policy will cover you if someone is injured on the vessel and will allow you to choose between replacement cost or cash value if you incur a total loss. It will also cover you if personal property is damaged in a boating accident.

Most policies will contain a coverage area, so make sure you don't take your bot into excluded waters. You will probably also have a navigational warranty that covers most of the inland waters of the United States and Canada as well as coastal waters. Coverage for international waters is usually separate.

When your boat is out of the water and hauled by a car or truck, your automobile policy will cover any damage that may occur. During those times when the boat is stored at home, your homeowner's policy will most likely cover the vessel in a limited manner.

Like other types of insurance, you can save money on your boat policy by doing a little homework. By doing such things as taking boating safety classes, including safety features on your watercraft and lengthening the lay-up period, you can get the most out of your money.

GET A QUOTE ON AFFORDABLE BOAT INSURANCE TODAY!
From DC Insurers --Mountain: