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“Do you have Adequate Boat Insurance?”
Ah, the bliss, frustrations and challenges that await the most intrepid sailor or a wealth of experiences for the hobbyist sailor, cruising and racing to adventuring – enough to keep you hooked for life. But do you have boat insurance? And is it adequate?
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If you have a
home insurance policy with a clause on boat insurance, find out what
exactly this means and what it covers. Don’t wait for an accident to
find out what it doesn’t cover.
Normally, a homeowner’s insurance policy covers only small boats, and
gives limited coverage. Typically, you may be insured only around
$1000. This amount has to cover the boat, an outboard or inboard
motor, the trailer, and any accessories, and it doesn’t do much for
the typical boat!
Think of the restrictions that apply to the coverage. For example:
What if the loss is due to theft? You may end up getting less. Some
policies require that your boat be stored at the property where you
reside not at your vacation spot. In addition, there are a lot of
policies that limit where you can use your boat and still be covered.
You may know that your typical boat insurance policy covers some of
the following: anchor, battery, bilge pump, bimini top, boat cover,
and emergency devices such as EPIRB.
How about what it doesn’t cover? Your camera or video equipment,
clothing, jewelry, watch (any personal item), food or beverages, cell
phones, portable televisions, stereo equipment, scuba gear and worse,
if your sailboat is in a yacht race) the sails, masts or spars and
water skiing or wakeboarding ropes.
It’s no fun to take have accidents happen to your boat and find out
you’re not covered. Be smart, get exceptional boat insurance to keep
you covered......
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