Boat Insurance: Why you need it and how to get it

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.

Introduction

Boating and sailing is not only one of the most popular pastimes today, they have been a popular means of transportation, recreation, and occupation, for nearly all of recorded history. Throughout history, boating and sailing has been a means for many of mankind’s greatest discoveries, important battles, expansions and migrations, and a source of food and livelihood. While boating and sailing still maintain many of those roles today, for most of us boating and sailing are a source of recreation, fun, competition, and relaxation.

Today, boating and sailing provide a source of fun and recreation for millions of people worldwide. But there is more to recreational boating and sailing than simply buying a boat and launching it into the water. In order take the fullest advantage of all that boating and sailing have to offer, it is best to arm oneself with as much information as possible.

For those with an interest in boating and sailing the most obvious area of interest is the type of watercraft that will best suit their needs. Fishing, water sports, racing, or simply strolling across the water; all of these are activities are best enjoyed in the proper kind of boat. But the kind of boat you own also impacts the kind of storage needs you will have.

Smaller sailing and motor boats may not require permanent storage space such as a marina. They can often be stored at home and brought to the water on a car-towed trailer. Larger boats need to be moored at marinas where they are protected from the elements during the season, and in areas where the season is not year-round, marinas can remove boats from the water in order to protect them from damaging ice.

Those with an interest in boating and sailing must remember to protect more than just their boats. Protection of one’s self is perhaps the highest priority when traveling on the open waters where conditions can change rapidly. Life vests, throwable flotation devices, navigation lights, and fire extinguishers are but a few of the safety oriented items that must be considered when engaging in boating and sailing. Those items, when combined with proper instruction in the rules and laws of the sea, will make boating and sailing a hobby that is both fun and safe for you, your family, and friends.