Marine Boat Insurance

Attaining adequate marine boat insurance is an absolute necessity for anyone who treasures a water craft investment. Some boat owners assume that this coverage is a part of their home owner policy, but this is usually not the case. While small water craft may be covered under a traditional home owner's plan, the coverage may be much more limited than a water sports enthusiast may realize. Unfortunately, these under insured individuals discover this sad reality only when it is too late, leaving these owners with a badly damaged vessel and very little in the way of cash to be used for repairs. The cost of purchasing and maintaining a water craft can be very high. Obtaining a separate marine boat insurance policy that will cover these costs in the event of theft or damage only makes sense for most boat owners. Such policies may cover the costs of replacing a number of individual items including bilge pumps, anchors, masts, deck chairs, batteries, mooring equipment, depth finders, fire extinguishers, motors and engines, life preservers, batteries, covers, seats, bimini tops, oars, solar panels, fuel tanks, emergency devices, and lights. Of course, there will be limitations to any coverage. Unless additional riders have been added to a policy, there are many items that may not be covered in the event of loss. This may include personal items such as jewelry, cameras, or clothing. Sporting equipment such as water skis or scuba geared may also not be covered. However, most insurance agents can work with a client to develop a plan that will best suit the client's particular needs.



The specific features of marine boat insurance can vary, but will generally have certain things in common. As with all insurance products, basic liability coverage will deal with issues such as any damage to property that a policyholder is responsible for should this policyholder be found to be at fault in an accident. If this accident has caused bodily injury to others, the costs of treating these injuries will be handled under liability coverage as well. Of course, there are limits to this coverage, depending on the type of policy that is selected. Requirements on what is covered and the dollar amount that applies can vary from state to state. Some policies will also handle the funeral expenses if any loss of life is the result of an accident that an insured individual is liable for. Payment for the physical damages to the vessel and the cost of salvage efforts will often be covered as well. In some cases, any damage that occurs to a trailer as a result of an accident or natural disaster may be covered. There can be deductible associated with this coverage. Other expenses that might be covered by marine boat insurance could include towing reimbursement, emergency services, or pollution damages as a result of an emission of a petroleum product. Should an uninsured boater cause damage to a policyholder's vessel, there are many coverage options that are available.



Classic and antique vessels are in a category by themselves and therefore require a special type of marine boat insurance. Since the value of a classic or antique water craft can be a somewhat subjective factor, many policies will allow an insured consumer to come to an agreement with the insurance company regarding the worth of the vessel. Current market value will of course enter into the agreed upon amount, but the owner of the boat will have a say as to how much the craft is worth. No one wants to see their hard work and efforts go up in smoke without any opportunity to recover losses. If an antique water craft enthusiast is in the process of restoring a boat, coverage in the event of fire or theft is very important. Reproductions and brand new wooden boats may also be eligible for coverage. Some providers will impose strict regulations on just where an antique or collectible vessel can navigate. If an owner prefers more flexibility in this area, finding a policy that will accommodate this preference may be recommended. In addition, some providers may require that a boat owner keep the vessel laid up over the winter months. Looking into all of these features and finding a plan that best meets the individual client's needs is an important part of purchasing marine boat insurance.



When selecting a provider of marine boat insurance, a consumer should consider many things. The flexibility of coverage options is important. A company's stability and the quality of customer service are also crucial factors. Taking the extra step of making sure that personal water crafts are adequately insured can really pay off in the event of an accident or natural disaster. The Bible talks about the blessings of perseverance. Blessed is the man that endureth temptation: for when he is tried, he shall receive the crown of life, which the Lord hath promised to them that love him. (James 1:12)



While insuring a water craft will involve extra expense, there are ways that a consumer can cut down on costs. Some providers will offer discounts under certain conditions. If an owner completes a course on boating and water safety, this may entitle them to lower premiums. Regular mechanical inspections and replacement of defective parts can yield valuable discounts as well. No matter what approach a water craft owner might choose, purchasing marine boat insurance can be part of responsible ownership.