Your new boat might be the greatest investment you've made maybe after your own house or other huge expense; that's why it becomes very necessary to acquire a boat insurance to protect that big investment even if you don't use you boat frequently; the information in this section will help you feel more knowledgeable and confident about insurances for this specific situation.
Remember that when you own insurance, the most important thing in which you must think and consider analyzing is the policy declarations document, that includes the information regarding the coverage, limits of coverage and deductibles; according to the contract you signed, your policies will vary each time you renew it.
Some important information on the policies are: Policy period, boat coverage (the boat), coverage in case you have more than one boat, coverage limits that includes the total and maximum limit the insurer will pay to cover for certain accident, and deductibles that shows how much you'll pay for damage for each accident.
It's important to have boat insurance because half of all boating accidents result in injuries and an accident can happen to anyone, even if you're an experienced sailor, the other boat sailor might not be as experienced as you and maybe doesn't have an insurance.
When you're looking for this insurance, you must look for one that could protect your craft from bow to stern; and if possible the insurance must cover your gear and accessories, including anchors, skis, fishing gear, and more. Our coverage extends up to 100 miles off the coast, and protects your friends and family, too.
Some important coverage you must be careful to include on the insurance policies, are:
- Sailor liability coverage, in case of accident this one will protect you from paying medical bills, funeral and other expenses of people involved in the accident; it also could include the paying of reparation or replacement of the boat.
- In case of accident with another boat or other thing, even if someone hits your boat when docked, the insurance will cover the reparation or replacement, depending on the situation resulted the boat.
- Other insurances consider the coverage of personal belongings, including fishing equipment.
- Coverage in case of emergency, for towing service, fuel, oil, battery.
In this section we selected 3 important aspects for boat insurance you can study and read in order to increase your knowledge and take a good decision acquiring the adequate insurance for your boat.