Every summer, thousands of boats hit the world’s oceans, lakes, rivers, and waterways. Being that boats are often a large expense, it is surprising how many boat owners neglect to insure their valuable toys. If you have a boat or are planning on purchasing a boat, boat insurance should be on the forefront of your mind.
Boat insurance protects boat owners in the event of loss or damage of their vessels. All forms of motorized water vehicles are covered under boat insurance policies, even jet skis. Boat insurance includes typical coverage that you would expect from such an insurance policy, but there are also some specialized forms of coverage that offer extra protection so you can hit the waters care-free, ready to enjoy all that your boat has to offer.
Standard Boat Coverage:
- Bodily Injury and Property Damage Liability
- Medical Pay
- Uninsured Boaters
These standard forms of boat insurance coverage may be enough for some people, but many boat owners choose specialized coverage features for added protection and peace of mind. If you plan on buying a boat, more than likely it will be a major investment of thousands of dollars. Therefore, specialized coverage may be ideal for you.
- Total Loss Replacement – As the name suggests, this specialized boat insurance coverage provides reimbursement for the entire value of a stolen or unsalvageable vessel.
- Replacement Cost of Personal Items – Many boaters hit the water with certain valuables on board. With this special coverage, you never have to worry about losing the monetary value of any of the personal belongings that you take on board.
- Disappearing Deductibles – This is a valuable coverage add-on that lowers your deductible by 25 percent at the time of renewal if no claims have been made during the policy period.
- Emergency Towing and Labor – Modern boats may be more dependable than ever before, but many boat owners can attest that boats are no stranger to breaking down on the water. With Emergency Towing and Labor coverage, you never have to worry about how you’re going to pay for costly emergency services.
- Wreckage Removal Coverage – Standard boat insurance policies that have collision or comprehensive coverage may cover the replacement value of a boat up to the policy limits, but if your boat is wrecked out at sea, you must pay for the wreckage removal out of your own pocket. Due to the nature of wreckage removal, this service often costs thousands of dollars. Wreckage Removal coverage is a valuable feature that every avid boater should consider, especially those who regularly hit the high seas.
Losing, wrecking, or damaging your boat can put a damper on your summer fun. A relaxing fishing trip can turn into a nightmare rather quickly if you end up in waste deep water without boat insurance. If you prepare for the worst, and bundle your boat insurance with your auto and home insurance at a reduced cost, your boat and your wallet will thank you for years. By visiting shophomeinsurance.net, you’ll be able to search the top insurance companies in the industry and receive the best boat insurance rates the market has to offer.