Boat Insurance Buying Tips

Boat Insurance Buying Tips

Outoor Release:

Understanding boat insurance can be confusing. But the smart boater can make the right insurance choice with these "Top Five Tips for Buying Boat Insurance" from BoatU.S., the nation's largest recreational boat owners association:

• Know thy insurer: Boat insurance can be "added on" to a homeowner's policy or purchased from an independent insurance agent or directly from a marine insurance specialist.
• Agreed Value vs. Actual Cash Value: These are the two main choices for boat insurance and depreciation is what sets them apart.
• Know the salvage truth: If the worst happens and your boat needs to be salvaged, you want to ensure that your policy covers salvage costs up to 100% of your boat's insured value.
• Speak to me in a language I understand: Don't treat boat insurance like other insurance. Make sure you understand exactly what is covered as well as what isn't covered.
• One size doesn't fit all: A bass boater may need fishing gear and tournament coverage as well as "cruising extensions" if they trailer their boat far from home. If you're in the hurricane belt, hurricane haul-out coverage makes the decision to safely store your boat ashore that much easier as a storm approaches....A good insurer will tailor your coverage to fit your needs, so there will be no surprises if the unexpected happens.