Boat insurance - Protect your getaway
Before Getting Your Insurance Quote: Understanding Boat Insurance
Boat insurance works similar to the insurance for your car, and can protect in the same way. But, since boats have different features than your car, you will want to make sure your insurance company gives you all the coverages you need and any savings that may lower your premium before you get a boat insurance quote from an insurance company.
Boat Insurance Coverages You Will Want:
- liability
- physical damage
- theft
- medical payments
- motor coverage
- trailer coverage
- boat covers
- docking fenders
- communications devices
Boat Insurance Discounts You May be Entitled to:
- new boat
- automatic fire extinguisher
- burglar alarm
- ship-to-shore radio
- approved boating education course
Remember, since every boat is unique please make sure to check with your insurance agent to see if you need any additional boat insurance coverages or would be eligible for additional boat insurance discounts.
The major difference between boat insurance and car insurance is the amount of coverage a policy provides. This variation is simplistic in nature but can be very difficult if one does not know the very basis of the issue. The basis of boat insurance is the different things that can be covered by the different policies and individual companies. Of course all of this varies by the type of boat and the company and location of the boat but that is for another time.
The first thing to remember is the coverage that applies to your boat should always apply to the persons on the boat as well. This is called medical coverage and it works to protect you and anyone on the boat in case of an accident or sinking. The insurance company so that yourself and people with you will have their medical expenses pays this for if an accident occurs. The amount of medical coverage does have a maximum and once that amount is met then the insurance company is no longer liable for further expenses incurred.
Most often the amount of coverage is more than enough to cover the medical bills, but there are some extreme cases where it far exceeds the insurance company payments.
Next you should look to cover the equipment on the boat itself. Car insurance does not have this feature but under boat insurance you can choose equipment that will be covered in case of loss or damage. For a boat this is most often the sails, anchors, riggings and on board electronics used for navigation. The reasoning behind this type of coverage is the fact that all of these things are necessary for the boat to be properly operated. So, in order to keep your boat in working order than you will need to make sure that those items are covered against loss. Theft from boats is a crime that grows every year so be sure to protect yourself from thieves.
Finally you should consider the liability to the people around you when choosing an insurance policy for your boat. If an accident occurs and it is determined to be your fault then you are liable for damages to the other person's craft and their medical expenses if any. Liability insurance offers coverage for those situations to keep you from having huge expenses.
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