Your Boat Insurance – Key Considerations

Sailing into the distant blue has the beneficial effect of blowing away the stresses and worries of your life with the blowing wind. However, before you set off in your attractive boat, take five and think about the merits of these questions. Do you have marine or boat insurance? Even if the answer is ‘Yes’ at that point, are you sure the essential elements of your insurance are being met?

Maritime insurance groups vessels according to a type of dimensions. "boats" they are described as being between 16 feet and 25 feet 11 inches long. Below that size, it is classified as a small boat, that is, boats, jet skis, etc. If your boat is 26 feet or larger in size, you will most likely need expert insurance. Right now, let’s look at some of the pros and cons that apply to regular boat insurance policies.

Physical Damage Insurance Coverage

The insurance company reimburses you for the replacement or reconditioning of your vessel, resulting from the following conditions: boating mishap, vandalism, fire, theft, lightning, hurricane or tornado. The boat itself, its power train or outboard motor, and its trailer are incorporated into this policy. Typically, the following items are omitted from boat insurance coverage as they are not considered part of your vessel operations: clothing, video or camera equipment, precious jewelry or fashion adornments, cell phones, food and beverages, scuba gear, and portable electronic devices such as televisions, hi-fi, or laptop computers. You may find that they are included in your regular home insurance coverage, or you may request separate insurance coverage for some of them.

Tip: I know it’s a pain, but always study the fine print at the bottom. Then you will realize the restrictions that have been placed on your protection. Can you have your boat in your house? If not, should the ship be at your vacation spot? Where does the protection of the waters you can use begin and end? Some policies specifically list the assumptions and restrict the use of your vessel.

Individual Liability Coverage

We hope you never need to find out just how important this coverage is. Typical marine vessel insurance coverage here ranges from $3 million and can compensate you when there is a collision and your vessel is responsible for damaging another property, vessel, or injury.

Uninsured Boat Protection

This is known as the marine equivalent to road vehicle uninsured motorist insurance coverage. For example, in the event that a boat owner who damages yours has run out of insurance coverage or, worse yet, doesn’t have the money, your boat repairs will be paid for.

Passenger health insurance coverage

This insurance coverage will cover the medical expenses suffered by the people you carry on your boat. You will definitely find that there is usually one more provision in your policy that regulates the number of people that can be on board at any given time – make sure you don’t bring more as the insurance at that time will not be valid.

Trailer Aid & Protection

This component of your insurance coverage will reward you for sustained costs if you are required to call emergency services. You may have engine failure or additional mechanical failure or your boat may be damaged on rocks requiring a trailer back to the dock.

What is the basis of all this? Be aware of insurance before you start your boating season. Take some time to get hands-on and familiarize yourself with the understanding so you can easily decide on the right insurance option, terms, and coverage that your boat insurance should include. Then you can head off into the blue knowing that you are effectively prepared for any scenario.

To your enjoyment of navigation!