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4 Things You Should Know About Boat Insurance

Friday, April 24th, 2015

4 Things You Should Know About Boat Insurance
News from Cape Gazette:

So you just picked up your new boat and you’re anxious to hit the water and feel the fresh air on your skin as you navigate many of the lakes and streams the world has to offer. Before you take your boat out on the water, you need to be sure you are properly protected if the unthinkable happens. Boat insurance is one of the best ways to make sure you are covered in the event of an accident when you are out on the water.

 

1. Why get boat insurance?

Many new boaters believe that a homeowners policy will cover their boat as well. Unfortunately, that is often not the case. You want to be sure your new investment remains safe if something happens, and you also want to make sure your financial assets are protected in case there is an accident and you are at fault. To do this, you must purchase an insurance policy on your new boat.

 

On average, the prices for boat insurance range from a few hundred dollars to over $ 1,000, depending on the type of boat and your personal history. Prices on your boat insurance can depend on a number of factors including:

Type of Boat

Size of Boat

Size of the Engine of the Boat

Expected Use of the Boat

Your Personal Profile

continues on Cape Gazette

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4 Things You Should Know About Boat Insurance

Sunday, April 5th, 2015

4 Things You Should Know About Boat Insurance
News from The Cheat Sheet:

Source: iStock

So you just picked up your new boat and you’re anxious to hit the water and feel the fresh air on your skin as you navigate many of the lakes and streams the world has to offer. Before you take your boat out on the water, you need to be sure you are properly protected if the unthinkable happens. Boat insurance is one of the best ways to make sure you are covered in the event of an accident when you are out on the water.

1. Why get boat insurance?

Many new boaters believe that a homeowners policy will cover their boat as well. Unfortunately, that is often not the case. You want to be sure your new investment remains safe if something happens, and you also want to make sure your financial assets are protected in case there is an accident and you are at fault. To do this, you must purchase an insurance policy on your new boat.

On average, the prices for boat insurance range from a few hundred dollars to over $ 1,000, depending on the type of boat and your personal history. Prices on your boat insurance can depend on a number of factors including:

  • Type of Boa…………… continues on The Cheat Sheet

… Read the full article


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AAA: ATV, boat owners should be up on insurance, laws

Thursday, July 12th, 2012

AAA: ATV, boat owners should be up on insurance, laws
News from KTAR.com:

PHOENIX — With summer and vacation plans in full swing, owners of ATVs and boats might want to check their insurance coverage before hauling those big-ticket toys out of storage.

“It is important to know the law,” said Michelle Donati of AAA Arizona. “Non-street legal ATVs are not required to be insured per state law, but ATVs that are licensed for street use or with a lien holder are required to carry bodily injury and property damage liability coverage.”

Boat owners can save on insurance by operating a diesel-powered craft, keeping Coast Guard-approved fire extinguishers on board and using a ship-to-shore radio.

A report from the Arizona Department of Health Services said in 2010, nearly 2,000 people visited the emergency room after accidents.

“Each year, hundreds of crashes involving boats and off-highway vehicles, such as ATVs, occur in Arizona,” she said. “Those result in injuries, fatalities, as well as financial losses.”

Donati said operator error is responsible for many of the accidents.

…………… continues on KTAR.com
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What should you ask your boat insurer to get the best coverage?

Sunday, March 25th, 2012

What should you ask your boat insurer to get the best coverage?
News from Live Insurance News:

As you get ready to launch your boat for the first time this year, it’s important to make sure that you start by purchasing your boat insurance and that you obtain the right level of coverage for the best price.

To accomplish this goal, you’re going to want to make sure to ask the boat insurance company a few questions before you make your final purchase:

• How much coverage is there for someone who borrows the boat? Different policies provide varying degrees of coverage for passengers, crew, and people who borrow the boat with your consent. Choose the insurance that provides an equal amount of coverage to anyone who is aboard the vessel.

• How much of the boat’s equipment and gear is covered by the policy? Carefully go over the types of equipment that will be covered by a policy you are considering. You will want to make sure that you will not be paying too much if your boat has very little equipment –f or example, if it is simply a dinghy – or that you will have enough coverage to protect your investment if you have a larger boat such as a luxury yacht.

• Does your boat coverage include a “new for old” element? Though some policies will replace damaged equipment with its new equivalent, others will only cover the second hand/depreciated value of the equipment.

• Is there a limit in the insurance policy for the amount of damage th…………… continues on Live Insurance News

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Should boat renters take a safety course?

Friday, August 26th, 2011

Should boat renters take a safety course?
News from Huntersville Herald:

Commission to consider the measure after high-profile incidents this summer

by Josh Carpenter

HUNTERSVILLE – The Lake Norman Marine Commission is considering implementing a mandatory boating safety class for boat renters after some high-profile injuries this summer on Lake Norman.

The N.C. Senate passed a law in 2009, requiring all boat owners younger than 26 to pass a safety course sponsored by the National Association of State Boating Law Administrators.

Boat renters, however, are not required to take the course. In fact, there are few regulations governing safety for people who rent boats, even those who have no experience helming such a vessel.

“Everyone who passes the … course goes through six or seven hours of training with an exam at the end,” said Lake Norman Marine Commission member John Marino. “With the way the bill reads for rentals, you can go to a marina or bo…………… continues on Huntersville Herald
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Boat Drinks


Boat Drinks
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What Agents Should Know About Selling Boat Insurance—Slideshow

Monday, June 20th, 2011

What Agents Should Know About Selling Boat Insurance—Slideshow
News from PropertyCasualty360:

With summertime officially here, potential and existing policyholders may begin asking for advice on what types of boat insurance coverages they should have or need. As their agent, do you have a good working knowledge of the products and the market? The answer depends on many factors, including the type of customer as well as the type of boat they’ll be using. 

Below and on the following pages are photos of common watercraft to help you match coverages to the needs of many different kinds of boat owners: runabouts/pontoon/ski boats; bass/walleye boats; sailboats; high-performance craft; and yachts and houseboats.

Runabouts, Pontoons, and Ski Boats

In theory, virtually any boat can pull a skier, and if your insured plans to do so, they should consider a water sports endorsement with higher liability limits. Most boat owners should also consider coverage for…………… continues on PropertyCasualty360

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