Boat Insurance: Why You Need It And How To Get It.

admin — Thu, 10 Mar 2011 09:38:44 +0000

Every year, thousands of boating accidents happen in the United States. Out of this, 60 percent results in some kind of injury. Aside from accidents, boats also get stolen. This is why it is very important to get boat insurance. With all the dangers, it would be crazy not to get boat insurance.

Here are a few useful tips when shopping for boat insurance.

1. You should look for an insurance company that is responsive & always available. It is very critical that your company responds when you really need assistance. Help should always be close by when an accident happens, when you need claims or emergency service.

2. You should look for an insurance company with good customer service. It is advisable to choose a company with a large network of agencies, claim centers, and helpful employees that are ready to serve you whenever you need them. In such a case, you can be sure that you will be treated fairly and promptly.

3. Choose an insurance company that is financially stable. Ideally, one with a long history of service to boat owners. Companies with a rich history are generally more stable than new ones. A good way to check the financial stability of an insurance company is to do some research. Check out the financial ratings of A.M. Best and Standard & Poor’s for insurance companies.

4. Get boat insurance from a company with a good reputation and high standards.

5. Choose an insurance company with a wide variety of coverage options. This is very important because your needs as a boat owner are very unique. The company’s menu of products should accommodate a circle of protection for your needs both today and tomorrow.

6. Boat insurances come in different prices ranging from the affordable to the ridiculously expensive. It is important to understand the policy and service promises behind the price of the boat insurance It’s better to pay for an expensive but good quality boat insurance than a cheap one with limited features. It is not advisable to accept low protection just to get a lower price. Make sure that you get the protection you and your boat require.

7. Consider the type of boat you own before getting boat insurance. Do you own a motorboat, a personal watercraft (PWC), a boat without a motor (canoe, kayak or rowboat)? Consider also circumstances in which you plan to use the boat insurance.

8. Though boat insurance is designed to protect your boat, it is also advisable to take note of the other coverage options available. An important boat insurance option is the medical payment coverage which can offer medical protection for you and your passengers. You can never be so sure of your and your passengers’ safety when your out at sea.

9. Another option to consider is water liability coverage. There may be instances when you will accidentally injure a person while on the water, a passenger, a swimmer or a water skier perhaps. This is where water liability coverage comes in handy. This type of coverage also protects you if you collide with and damage another boat or if you hit a rock.

10. The most important option is the physical damage coverage. This coverage will come in very handy if you hit another boat, a submerged object or a dock and damaged your boat’s motor. The physical damage coverage usually has two components:

a. Emergency services protection. This type of coverage provides protection of up to $100. It covers towing and mechanical labor if ever your boat breaks down while you’re in the water. Also available is an extra emergency services as an optional coverage for an additional premium.

b. Physical damage protection for valuable boat equipment. This type of coverage protects your valuable boat equipments such as boat covers, docking fenders, portable gas tanks, life jackets, anchors and anchor lines, sonar equipment, water skis, cushions, and your boat engine, compass and gear. Also available is an extra boat protection at an added premium. There is also on the road protection for your boat, trailer and equipment. This also covers protection if ever your boat, motor or trailer is stolen.

An additional way to keep the cost of the boat insurance policy is to not grossly underestimate the worth of your both. Appraise the boat for what it’s worth. No more, no less. You can also get boat insurance policy if you take a boating lesson so better asks around.

Why boating insurance is a good idea – Part 1

admin — Thu, 01 Jul 2010 16:15:04 +0000

A boat is an expensive purchase and often costs a lot more than a car. Have you ever thought of driving without car insurance? Of course not; a car is expensive and an accident happens easier than you expect. Maybe many people don’t consider about but every year thousands of accidents happen in the entire world. Injuries, damage on your boat, and maybe you don’t expect this, but also some boats are stolen. There is no doubt: boat insurance is always a good idea.

You can compare a boating insurance in many ways with car insurance. Probably boat insurance is not obligated in your country but no matter which kind of boat you have the risk is too high for not taking one. There are only differences between the kinds of insurance you should take. A boating insurance for a small boat is different than for speedboats or sailboats. Of course not only the kind of boat makes difference also the value of your boat has an influence on the kind of insurance which you have to take.

Shopping for the right boating insurance requires a lot of research but this can be said for all kind of insurances. It is necessary to know if your insurance protect you against all the possible risks. However, the chance is very low that another insurance protects you already against damage or theft of a boat; it is necessary to check first all your policies of insurances you already have. Don’t think a family insurance will pay you the costs of an accident which will happen on your boat! This might be too easy; there is certainly need for a boating insurance.

When you are searching for a boating insurance which fits your needs it is important you pay attention on the good reputation and probably high standards of the company. Don’t take one from an unknown company with a low premium; you will soon find out most of your invested money in these kinds of insurances is waste of money because they don’t cover all the necessary needs if something will happen. Maybe the company is not solvable to pay the damage or long discussions and juridical procedures are necessary and very often you will never receive money from the company or only a limited amount.

Read the content of the policy very carefully and be sure you understand the policy and the service promises behind the price! Pay better a little bit more attention than finding out too late you are not covered for certain risks. Be sure the policy includes all the coverage options you need! Before you buy your boating insurance it is important to consider about the circumstances you are planning to use your boating insurance. This will be likely different for a speedboat or another motor boat compared with one for a kayak or another boat without motor.

Probably is the most important option of your policy the physical damage coverage. This kind of coverage includes damage on your boat like vandalism, windstorm, fire, and explosion but also when you hit another boat and your motor is damaged. The necessary boat equipment like boat covers, portable gas tanks, docking fenders, your boat engine, sonar equipment and many others will be covered by this option.

Water liability coverage is another important coverage. Have you ever thought how many accidents happen every year while people maybe accidentally injure another person on the water? This can be a swimmer or perhaps a water skier but also property damage is covered in this option. It is not unusual you hit a rock or your boat collides with another one and damages your boat. Such accidents happen very frequently and this coverage can save you a lot of money.

Anchor Marine » Shopping

Boat Insurance: Why You Need It And How To Get It.

Why boating insurance is a good idea – Part 1