House Boat Insurance
House boat insurance is not usually the first thing people think about when buying a houseboat, but it provides the safety net needed to protect owners from losing life savings or possibly filing for bankruptcy. Living on the water may be very appealing. These floating flat-bottomed homes can be quite luxurious, coming furnished with larger sleeping and living rooms, a full kitchen and a closed in head. Inlets, bays near the ocean and lakes are popular spots to dock, but salt water is very corrosive and boats generally need constant upkeep. Although houseboats are bulkier and move slower than most boats, accidents happen, causing damage to both property and individuals. The resulting costs can quickly dash an owner's dreams. House boat insurance is a necessary, and required, expense to protect personal finances and the investment in the property itself. Policies are not hard to find, but finding inexpensive yet comprehensive coverage can be difficult.
Because houseboats are classified as pleasure boats, in the same category as jet and ski boats, sailboats, cabin cruisers, and party boats, many regular insurance companies don't carry house boat insurance. They often are covered under marine insurance industry with a special type of underwriter who handles these policies. All insurance companies differ in their requirements and criteria that determine premiums and rates. Most often, companies will look at basic items such as horsepower, size, age and type of the vehicle. Where the houseboat will be used is also taken into consideration. Boats primarily used in rivers will carry different rates and coverage than those primarily in ocean regions or hurricane prone areas. Costs can vary from $10 per foot to more than $30 per foot depending on the extent of coverage needed. Individuals or families who plan to rent a houseboat should also check to see what type, if any, house boat insurance is provided with the rental plan. Policies are generally based on the experience of the owner, use of the boat and how long it will be in the water.
Marine insurance companies offer a variety of different policies. The law in most states requires all boats to carry standard watercraft liability coverage, which includes protection if damage occurs to property or people are harmed in the operation of the houseboat whether it is in the water or during transportation. Most lenders will also require additional coverage. Speak with the lender before taking out a loan and consult with an insurance agent to get a full understanding of what is needed. Most house boat insurance policies also can include coverage for medical payments, in case the owner or a passenger is hurt, towing assistance to cover transportation of the vehicle to fix or replace parts, and insurance against damages occurred by other uninsured boats. Other optional coverage includes theft, vandalism, storm damage, fire, sinking, capsizing, collision, living expenses while the houseboat is being repaired, and even loss of expensive fishing equipment. Additionally, companies offer wreck removal and pollution coverage if a boat sinks or leaks oil or gas. Marinas often turn away houseboats for fear of polluting the local waterways. Cleaning up after an accident or a leak can result in expensive fines or large excavation expenses. God gave man careful commands about taking care of our environment. "Rule over the fish in the sea and the birds in the sky and every living creature that moves along the ground." (Genesis 1:28)
Finding the right house boat insurance coverage can be a difficult process. Individuals should check first with their home or automobile insurance company. Some companies will discount policies when insuring other items such as boats. Get a quote to use simply as a base. Ask around. The best policies are found by word of mouth. Talk to other boaters to see which companies are the most recommended. Begin calling around for rate quotes. But don't stop at just getting rates. Find out about what types of policies each one offers. Decide what coverage fits the individual situation. Some companies will offer discounts to boaters who complete a safety boat case. Such courses make operators safer, therefore reducing risk and causing loss for the company. Unfortunately, there are many insurance agents that push policies full of extras that a new owner doesn't really need to pad their commission check. Other companies will offer really low rates but provide less than adequate coverage and services. Be sure to compare as many companies as possible. One way to do this is to use the Internet or a multiple covering agency that can get quotes from many agencies a lot faster than one person can do on his or her own. Sit down with all the quotes and make a decision that makes the most sense. Be sure to choose a house boat insurance agent and surveyor who can be trusted. It is worth paying a little bit more for someone who is knowledgeable about the business instead of someone who is working in the business part-time as a hobby. Surveyors will evaluate the vehicle before writing up the official policy. If the boat has minor cracking, softness or other structural or engine problems, policy premiums will probably be higher.
House boat insurance is a necessity to consider before even beginning to consider a purchase. Many factors play into premiums, coverage selection and companies. Individuals must weigh these factors carefully before deciding on the best policy and provider. Pray carefully over the decision and seek the advice of professionals in the field - fellow boaters, friends and family. Houseboats can be enjoyed for many, many years, but only if the owner has the assurance of knowing that problems, if they arise, are covered.
Because houseboats are classified as pleasure boats, in the same category as jet and ski boats, sailboats, cabin cruisers, and party boats, many regular insurance companies don't carry house boat insurance. They often are covered under marine insurance industry with a special type of underwriter who handles these policies. All insurance companies differ in their requirements and criteria that determine premiums and rates. Most often, companies will look at basic items such as horsepower, size, age and type of the vehicle. Where the houseboat will be used is also taken into consideration. Boats primarily used in rivers will carry different rates and coverage than those primarily in ocean regions or hurricane prone areas. Costs can vary from $10 per foot to more than $30 per foot depending on the extent of coverage needed. Individuals or families who plan to rent a houseboat should also check to see what type, if any, house boat insurance is provided with the rental plan. Policies are generally based on the experience of the owner, use of the boat and how long it will be in the water.
Marine insurance companies offer a variety of different policies. The law in most states requires all boats to carry standard watercraft liability coverage, which includes protection if damage occurs to property or people are harmed in the operation of the houseboat whether it is in the water or during transportation. Most lenders will also require additional coverage. Speak with the lender before taking out a loan and consult with an insurance agent to get a full understanding of what is needed. Most house boat insurance policies also can include coverage for medical payments, in case the owner or a passenger is hurt, towing assistance to cover transportation of the vehicle to fix or replace parts, and insurance against damages occurred by other uninsured boats. Other optional coverage includes theft, vandalism, storm damage, fire, sinking, capsizing, collision, living expenses while the houseboat is being repaired, and even loss of expensive fishing equipment. Additionally, companies offer wreck removal and pollution coverage if a boat sinks or leaks oil or gas. Marinas often turn away houseboats for fear of polluting the local waterways. Cleaning up after an accident or a leak can result in expensive fines or large excavation expenses. God gave man careful commands about taking care of our environment. "Rule over the fish in the sea and the birds in the sky and every living creature that moves along the ground." (Genesis 1:28)
Finding the right house boat insurance coverage can be a difficult process. Individuals should check first with their home or automobile insurance company. Some companies will discount policies when insuring other items such as boats. Get a quote to use simply as a base. Ask around. The best policies are found by word of mouth. Talk to other boaters to see which companies are the most recommended. Begin calling around for rate quotes. But don't stop at just getting rates. Find out about what types of policies each one offers. Decide what coverage fits the individual situation. Some companies will offer discounts to boaters who complete a safety boat case. Such courses make operators safer, therefore reducing risk and causing loss for the company. Unfortunately, there are many insurance agents that push policies full of extras that a new owner doesn't really need to pad their commission check. Other companies will offer really low rates but provide less than adequate coverage and services. Be sure to compare as many companies as possible. One way to do this is to use the Internet or a multiple covering agency that can get quotes from many agencies a lot faster than one person can do on his or her own. Sit down with all the quotes and make a decision that makes the most sense. Be sure to choose a house boat insurance agent and surveyor who can be trusted. It is worth paying a little bit more for someone who is knowledgeable about the business instead of someone who is working in the business part-time as a hobby. Surveyors will evaluate the vehicle before writing up the official policy. If the boat has minor cracking, softness or other structural or engine problems, policy premiums will probably be higher.
House boat insurance is a necessity to consider before even beginning to consider a purchase. Many factors play into premiums, coverage selection and companies. Individuals must weigh these factors carefully before deciding on the best policy and provider. Pray carefully over the decision and seek the advice of professionals in the field - fellow boaters, friends and family. Houseboats can be enjoyed for many, many years, but only if the owner has the assurance of knowing that problems, if they arise, are covered.
House Boat Insurance
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Reviewed by Anonymous
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1:26 AM
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