If you're looking for boat insurance, or if you already have boat insurance, you may want to take a close look at your policy. It's very important that you know exactly what you're getting before you buy a new policy or renew your old one.
That's because when it comes to boat insurance, there are huge variances between one company's boat insurance policy to the next. Sometimes there are very big differences that go unnoticed until a claim needs to be filed.
So I have comprised an easy checklist for you, so that you can go over your boat insurance policy to see if you have adequate coverage. A common theme you're going to be hearing throughout this article is comparing standalone boat insurance to boat insurance that is attached to a homeowners policy. There are usually huge differences between the two as far as what is covered.
Nine times out of 10, a standalone boat insurance policy is going to offer more and better coverage than a boat that is insured under a homeowners policy. There are some exceptions where companies offer excellent boat insurance coverage as a homeowners endorsement. But many other homeowners policies that attach boat insurance are lousy!. You certainly wouldn't take a boat out in the water if you are aware of any holes that might leak. So why would you want boat insurance coverage that has more holes in it than Swiss cheese?
Here are some of the things to look for when reviewing your boat insurance policy:
Summary: it would be a great idea for you to review this checklist at the same time while looking at your boat insurance coverage. How does your boat insurance policy stack up? If you're finding a lot of holes in your policy as far as how much or what is covered, perhaps you should shop around for other boat insurance quotes.
This thing will probably surprise you the most is the boat insurance policies with very adequate coverage don't cost that much more than a lousy boat insurance policy. So make sure you have proper and adequate coverage before taking your boat out on the water this year.
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My wife and I just got our first boat, and I think that being able to get some tips could be nice. I'm glad you talked about how you want to look for a boat insurance policy that gives you flexible mileage, which I think is important. I'm going to have to use your tips and see what boat insurance policies would be best for me!
7/19/2018 08:31:56 pm
My husband recently bought a boat so that he could sail around some islands off the coast near our home. Thanks to your article, we know to find boat insurance that is flexible with their mileage. When he starts looking for insurance, he'll have to check their mileage policies first.
7/20/2018 02:01:01 pm
Thank you for your responses, Jordan and Katie. Mileage limits are very important to know because boat insurance companies all handle mileage differently.
Thanks for talking about how you need to consider your accessory coverage when looking for boat insurance. It is important to consider this to make sure all your belonging are paid for in an emergency. Personally, I would compare several insurers before choosing one.
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Dan Lyles is an Independent Insurance Agent serving Ohio, Indiana, Michigan, Pennsylvania, Virginia and West Virginia..