If you own a boat, you know how expensive they can be to make repairs to and to keep up. During the summer months when you are using the boat, you know that it has to be insured but what about in the off-season? What do you do during that time of the year that it is sitting in storage and not being used?
Insuring Your Boat
Before you even start to look at insurance coverage, you need to look at your needs for coverage. If your boat is financed, the bank will more than likely have some minimum numbers for you if you ask them. They may let you lower the coverage amounts if the boat is in storage, but you need to check with them to find out. Often your insurance agent can tell you what the normal coverage is at different times of the year as well. If you own the boat outright, you can put on or take off whatever you want during the off-season but check your local laws for coverage requirements during the boating season.
Where To Buy Insurance For Your Boat
Finding insurance to cover your boat is not hard at all. Most of the insurance companies that offer vehicle insurance, recreational vehicle insurance, and camper insurance will also offer boaters insurance. Check with your insurance company to see if adding your boat insurance with your auto policy will give you a discounted rate to carry multiple policies with them. If your insurance company does not have boaters insurance, it makes sense to shop around a bit and get the best price with the best overall coverage you can find.
Power Boats Versus Sail Boats
The type of boat you have may very well play a part in the type of insurance you need and the cost of it. Because one boat has a motor and travels a lot faster, it could be considered more of a risk than one that does not. There are also many different parts between the different boat styles, so it might be good to have the boat appraised by the insurance company for the best or most accurate rate available to you.
If you put your boat in storage every year, you might want to ask about the coverage during that storage time. If something happens to the boat at the storage yard, you should check with the insurance company about who is responsible for the damage. If the storage yard only covers part of the damage, will your insurance pick up the rest? It is important to understand all your coverage and if you don't, ask your agent to describe it to you.
For more information, contact a company like Veronica's Auto Insurance.