Boat or Marine insurance is available for small boats, yachts, high performance powerboats, live-aboard houseboats, catamarans, or pontoons. Marine insurance will cover intended use including personal recreation, commercial, or charter vessels. Typically, the size of your boat is an important factor when determining premium. Other important factors are value, deductible amount, age of the boat, its intended or usual usage, the radius of its operations (i.e. Bahamas or Caribbean) .
Boat policies can cover damage to your boat, motor, trailer, and personal effects in the boat. Available coverage includes liability, medical payments, injury to a water skier and damage to the boat itself, sometimes called hull coverage. Availability varies by state and by insurance company. Even though boat insurance premiums are low, shopping your rate can sometimes save a substantial amount.
Keep in mind that like auto insurance policy’s, boat insurance is tailored to meet your needs. If you have a restored or antique boat, be ready to get a survey for your boat to find its insurable value. Additionally, most boat policy’s are on an actual cash valuation basis while some carriers may offer replacement cost for a fixed several years and then actual cash value.
Call today and speak with one our personal lines agents, we would be happy to offer you a quote and answer any questions you may have.