Some Facts About Boat Insurance

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Those of you who possess a boat will prefer to make sure you have watercraft insurance coverage.  Often, people do not acknowledge that they need this type of coverage for their boats.  There are several boat owners still that don’t even know this kind of insurance is even available.

You must have boat insurance if you own a boat, it is that simple.  Before buying boat insurance, here are a few things you just have to know.

–  A lot of states now require that you bear watercraft liability coverage.  What this coverage does for you is protect you against whatever damage that you cause to others or their property using your boat.  This insurance would also cover you for stranding, sinking, vandalism, theft, fire, and even collision. You must always call your insurance broker and see what’s needed with your state and what policies they cover.

–  There’s also an optional coverage that you ought to consider, and this is Wreckage Removal. In a lot of areas, the retrieval of sunken or wrecked boats is called for by law, and the obligation of the owner to pay for the retrieval, which can really be quite expensive.

Wreckage Removal coverage would pay these tolls for you.  You must also consider adding coverage that will cover mechanical failure and repairs as well, along with towing charges – if you ever require to be towed to the shore.

–  Not every insurance company covers everybody who controls the boat.  This is something you must always ask about, determine who is covered when operating the boat.  There are many companies that would only cover the owner. Be sure the insurance agent identifies who is covered while operating the boat.

–  When you shop for boat insurance, call your present company first, then check together other companies to see what kind of rates they offer too.  Always keep in mind that insurance agencies are rivals with one another, and they will work with you to get you to join them.  Let one company learn about a better rate that you’ve been quoted and check if they will go one better.


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