There’s nothing as invigorating – or relaxing – as navigating the waters on a boat˳ Don’t let your family, friends and guests’ down-time be spoiled by any worries of an accident with any form of watercraft˳ Safety matters˳ Related insurance costs pennies a day, making it one of the best bargains around˳
Of course, just as auto, homeowners, renters, commercial and other forms of coverage need a scrutinizing eye, boat insurance requires the same vigilance˳ It’s important for you seek guidance before buying a protective policy˳ Sitting down with an experienced independent agent that has your best interest in mind will help you navigate the deep and wide world of indemnity in regard to watercraft protection˳
The following are some of the plans to look out for when shopping for boat insurance˳
Navigational Area Coverage –
The range of water expanse coverage varies so make sure your policy covers the amount you need˳ For the avid boater, there are companies that provide coverage until seventy-five miles from the United States coastline to the coastal or inland water of Canada as well as the Pacific Oceans coast in Mexico˳ Some states offer coverage for more water space˳
Agreed Value Coverage –
Just as cars, vans and other vehicles, water vessels go down in value as they age˳ Be aware that this may mean your boat will give you the insured value, minus your deductible, should it be stolen or rendered a total loss as a result of an accident˳
Liability Coverage –
Much the same as auto insurance, boat insurance provides personal liability˳ This means that it pays for losses and damages for other boat riders and boat owners should you be at fault in an accident˳ This coverage provides payment for repairs or property replacement˳ It also pays for medical costs and lost wages as well as other payments due to a boat collision that you are liable for˳
Medical Payment Coverage –
This coverage pays for medical care incurred because of a boat accident˳ Covering the policyholder, the passengers and any involved water skiers and tubers, it is broad protection irrespective of who is the liable party˳
Physical Damage Coverage –
This coverage takes care of boat, motor, permanent equipment and tailor repair or replacement costs˳
Uninsured/Under-insured Watercraft Bodily Injury Coverage
Unlike auto insurance, boat insurance is not mandated by the government˳ If you should be in an accident with another boat that has no coverage or is under-insured, this form of insurance will pay for medical bills, lost wages and other covered costs connected to the collision˳
Fuel Spill Liability/Wreckage Removal –
In the scenario that your boat sinks or is extensively damaged, an oil or fuel leak is likely˳ Legally, you are responsible to clean any of this out of the water˳ With this coverage, all payments and cleanup will be handled by the insurance company˳
Personal Effects Coverage –
While this insurance does not cover jewelry, watches or furs, it does provide protection for clothes, cell phones, sports equipment and fishing gear˳
Unattached Equipment Coverage –
This will pay for any equipment that is not attached, yet is used on your boat˳ Covered items include: lifesaving apparatus, water skis, oars, fire extinguishing equipment, tarps and the like˳
Emergency Assistance Coverage –
This will pay for towing, labor on repairs and delivery of gasoline and oil˳ It will also provide coverage for a loaned battery in the event the boat is not functioning as it sits on the waters˳
Source by https://ezinearticles˳com/?Boat-Insurance-Explained-the-Way-You-Like-It&id=9512980
