If you have a boat, you need boat insurance!
Shopping for boat insurance is a bit different from shopping for
car insurance, even though the concept is much the same. Boat
insurance will protect you against losses incurred while
operating your boat, and while transporting your boat. Most boat
insurance includes coverage for the boat, the motor, and the
trailer.
When shopping for boat insurance, it is usually best to start
with the insurance company that insures your cars and your home.
Insurance companies usually give deep discounts to their current
customers. Most insurance companies will also give deep
discounts to people who have successfully completed a boating
safety course.
Ask each insurance company that you contact about such
discounts. In most cases, they won't tell you about the
discounts unless you specifically ask.
Don't settle for the rate that your current insurance company
quotes! Just get the quote, and tell them you will call them
back soon. Using that quote as your base, you need to see if you
can get the insurance cheaper elsewhere.
Using online resources is a great way to start. Get the quotes,
and then contact the agents personally to see if you can work
out a better deal. Believe it or not, insurance companies will
compete with each other for your business. Don't be afraid to
tell them the lowest quote that you have been given so far -
make them work for your business!
Know what type of insurance you want and need before contacting
any agents. Some agents will try to sell you too much insurance,
causing your premiums to skyrocket, while others aren't as
knowledgeable about the insurance needs of boat owners and won't
sell you enough coverage!
You should be protected against losses caused by sinking, fire,
storms, theft, capsizing, stranding, collision, and explosion.
The policy should cover anchors, oars, trolling motors, fuel
tanks, seat cushions, skis, tow ropes, dinghies, tools,
canopies, life preservers, and any equipment that is permanently
attached to the boat.
The different types of insurance that you need include
Watercraft Liability, Watercraft medical payments, Newly
acquired watercraft coverage, coverage for repairs, coverage for
emergency services, and coverage for wreck removal. In most
states, the liability coverage entails Watercraft Liability and
Watercraft Medical Payments.
Watercraft liability will protect you in the event of an
accident that results from the ownership, maintenance, or use of
your boat. It should include bodily injury coverage, property
damage coverage, and even legal defense coverage. It should also
protect anyone who drives your boat, as long as they were
legally allowed to drive the vessel.
Watercraft Medical payments coverage will pay medical expenses
up to specific limits for you and the occupants of your boat in
the even of an accident.
Other types of coverage are usually voluntary, but should be
strongly considered. There is quite a bit that can happen when
you transport or operate a water vessel, and protecting yourself
legally should be a high priority!
Again, know what you want in terms of coverage before you talk
to an agent, and make sure that you get the coverage that you
need.
Compare rates online, and then contact the agents that offer you
the lowest quotes. Attend a boating safety course, and make sure
that you get that discount! Once you've found lower rates than
the original quote that your current insurance company offered
you, call them back and let them know that you found a lower
rate. See if they can compete - in many cases they will offer to
match that rate, just to keep your business! Again - make them
work for your business!
CopyRight Ian D. Major 2005.
About the author:
Ian D. Major makes it easy to understand Boat Insurance, quickly
and easily. Learn all you need to know by visiting:
http://www.the-boat-insurance-directory.com
an entirely FR*EE source of information about Boat Insurance.
