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Sailing off into
the blue yonder has the salutary effect of blowing cares and stresses away
with the winds. However, before you sail away in your new boat, consider the
merits of these questions. Do you have boat insurance? Moreover, are your
insurance needs fully met?
Marine insurance
defines vessels according certain measurements. A boat is defined as one
measured between 16 feet and 25 feet, 11 inches in length. If that’s the
length and width of your seaworthy vessel, then you have a boat.
Here are the 6
Tips your boat insurance policy should have:
1.
Physical Damage Coverage
The insurer pays
you for the repair or replacement of your boat, under the following
circumstances: Theft, vandalism, lightning, fire, tornadoes, or hurricanes.
Included in this coverage is the boat itself, outboard motors, engines, and
your boat trailer.
Excluded from the
coverage are the following items, which are not, considered a part of your
boat’s operations: camera or video equipment, clothing, fashion accessories,
or jewelries, food or beverages, cell phones, stereo equipment, portable
television, personal computers or scuba gear. Alternatively, you can ask for
separate coverage for these items.
2.
Liability Coverage
You’ll find this
coverage quite useful. You may also wish you‘d paid a bigger premium, when
there’s an accident and your boat is liable for damaging another boat,
property, or injury.
3.
Uninsured Boat Coverage
This is the marine
insurance equivalent of the road vehicle’s uninsured motorist coverage. In
this case, your boat’s repairs are covered, in the event the owner of the
property your boat collided with has expired insurance or worse, doesn’t
have it.
4.
Passenger Medical Coverage
This coverage pays
for the medical expenses incurred by people on your boat. This is a
must-have clause and the limit can be inexpensive, from $450.00 to
$10,000.00, is quite common. |
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5. Towing
& Assistance Coverage
With this coverage,
you’ll get reimbursement for the costs you’ve incurred for availing of
emergency services. Examples of these, your vessel breaks down, and a
commercial outfit tows your vessel to the port, you’ve paid for delivery to
replace your fuel, oil, or engine parts, or for someone to repair your
engine.
6. Read
the Fine Print Restrictions
Read the fine print
and so that you know what restrictions could apply to your coverage. Can
your boat be stored at your place of residence? Alternatively, should the
boat be at your vacation spot? Where does the coverage begin? Some policies
specifically limit the uses of your boat and list the exceptions.
In Summary
The bottom line to
all this? Be pro-active and arm yourself with knowledge, which among the
different policies possible, your boat insurance should have.
Then, you’ll sail
confidently into the sun, because your boat insurance policy will cover you where
it’s most necessary. Thanks to
http://www.pontoonboatsite.com for this.
Return to our Boat Insurance Information Page:
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