Boat Insurance Company Policy Basics

You have a great insurance company already for your home and automobile policies, so why not just go with them for your boat insurance policy? If you are looking for the best deals and coverage for your investment, it sometimes pays to look to the specialty boat insurance companies.

If you are considering purchasing a boat and are concerned about the additional cost of boat insurance on top of your boat payments, then figure it in to the monthly payment before purchasing and be sure you can still afford it. Why? Think about the frustration should your boat become damaged and becomes unusable while still making payments or even worse if due to negligent operation you damage another boat. Skipping on the boat insurance is not a good place to save money. While writing the check to the boat insurance company can be painful since you are not buying something, it will be the best money spent should something bad happen to your boat and you have to file a claim.

Here are some additional reasons to purchase a boat insurance policy from a specialty boat insurance company:

  1. boat insurance policy covers claims that a regular home and auto insurance policy does not cover. It is similar to combining a house and auto policy into one. If someone accidentally trips in your boat hurts themselves, your boat insurance policy would cover any claims.
  2. A good boat insurance policy will give you great replacement coverage. If you purchase the boat new, and you are the original owner, and your boat is totaled in the first five years, most policies provide a brand new boat of the same quality to replace your old boat. After the first 5 years, you will be given what you paid for the boat brand new. If you buy a used boat you will be given the purchase price towards the cost of another boat.
  3. Most specialty boat insurance companies will cover property damage to your boat should it get vandalized or struck by lightening.
  4. Another important coverage through most specialty boat insurers is uninsured coverage should you or your passengers are harmed by another boater who is not insured.

If you want peace of mind and to protect your investment, boat insurance is a necessary purchase and it may end up saving you money and hassle over the long run.

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