Protecting Your Investment
Purchasing a new boat? Heres why boat insurance is a must for protecting your investment. With the cost of new boats running from $10,000 for a small water boat to $200,000 and up for a luxury vessel, most boaters agree that full coverage of their new vessel is not an option, but a necessity.
Additionally, if the prospective boat buyer intends to finance the purchase, in almost every instance, full coverage insurance will be required by the lender. This just makes good sense.
Although in many states boat insurance is not required by law, it is always wise to insure any property that requires such a substantial investment. Few people would consider going without home, auto, or life insurance, because of the many risks to themselves and their loved ones. Along the same lines, boat owners will want to be certain, not only that their property is protected, but their families and loved ones who will likely be accompanying them on any boating excursion.
Imagine the sense of regret, if, in an effort to cut corners by saving mere pennies on insurance premiums, an unexpected accident, or natural disaster caused the loss of the entire vessel. Without insurance the boat owner has no way to recoup this loss.
Boat insurance can protect against theft, injury, accident or natural disaster, insuring that in case of such an unfortunate event, your vessel can be replaced for a minimal out of pocket expense.
More Articles
How To Find The Best Boat Insurance Policy
Deciding On Boat Insurance Coverage
Existing Policy Or Special Insurance For Your Boat
What Factors Affect Boat Insurance Premiums
Insuring A Boat For Winter Storage
Boat Insurance Points To Consider
About Marine Surveys For Boat Insurance
Related Products And FREE Videos
More Articles
... fee, whether for a day fishing charter, or a brief sight seeing trip. The mere presence of passengers on the vessel presents many liability risks. Consider the possible outcome to passengers if the vessel should be involved in an accident, while operating as a chartered watercraft. Consider, as well, ...
How To Find The Best Boat Insurance Policy
... extensive packages. Be certain that each company will be able to meet or exceed your insurance needs by viewing their policy options. When selecting these companies also consider which ones have the most experience in dealing with the type of insurance you want. Boat owners should consider choosing companies ...
Boat Insurance Points To Consider
... have in common is enjoying all of the pleasures of sun, sand and water. Just as boating enthusiasts differ in their boating preferences as well as in the way they use their vessels, boat insurance coverage options also differ, depending on the boat s uses, it s monetary value, and it s importance to the ...
... Anyone Traveling in International Waters The actual number of piracy attacks that were reported worldwide in 1999 rose nearly 40% in just one year. What s more those figures nearly tripled between 1991 and 1998, according to the ICC International Maritime Bureau in London (IMB). In the year 2000 a report ...
What Factors Affect Boat Insurance Premiums
... experience the insured owner of the vessel has with captaining watercraft, can affect the price of the insurance premium. An inexperienced boatman may pay a higher premium than one who has owned and operated watercraft for a long period of time. It may also help to lower premiums if the owner has taken ...