Investing in boat insurance is a wise and very important choice for protecting one?s vessel. Because this type of coverage is not often advertised, owners are sometimes unaware of how to go about acquiring boat insurance. The following are three easy ways to insure your boat:
Check Your Homeowner?s Insurance
Many homeowner policies provide limited coverage for marine vessels. Though this coverage most often applies to when the boat is parked at the home, it?s still best to begin with a thorough examination of existing mortgage insurance to understand if water vessels are covered and, if so, to what extent. If it is not adequately covered, contacting the broker who sold the insurance is a good idea just to determine if additional coverage can be added to an existing policy and to use the information given as a point of comparison for other free insurance quotes.
Check With Your Auto Insurance Broker
Although boat insurance rates not frequently advertised, auto insurance brokers are often experienced in writing new policies for water vessels. If you are comfortable with the cost of insuring your car, there is a very good chance that the same company will offer you decent insurance quotes for your boat, as well.
Research Insurance Quotes Online
Before making a final decision on purchasing coverage, do a little free online research to be sure that you are getting the best possible insurance quotes. In order to effectively do so, it?s important to know ahead of time exactly what you need. Things to consider when shopping for insurance quotes are policies that cover things like fires, collisions, guest injuries, theft, ice damage, sinking and policies that will cover the cost for salvaging or retrieving a sunken vessel. Also, there are peripherals, which are essential to your boat?s operation, that will need to be covered, as well. So be sure that items like dinghies, the vessel?s fuel tank and anchors are all covered in the insurance quotes offered.
Is Boat Insurance Necessary?
Without proof of insurance, many marinas will not allow a vessel to dock. This is because, among other reasons, accidents such as oil spills or leaks do sometimes occur while vessels are docked. Also, boats can sink or a fire can originate on one vessel and easily spread to others docked in the marina.
Boat insurance is also necessary to reduce the risk to other personal assets, such as real estate and savings accounts that may be targeted in a lawsuit if an accident involves an uninsured vessel. Even if a boat is only used a few times a year, it?s good to remember that an accident can happen at any time. When most people compare the cost of potential liabilities to the cost of reasonable boat insurance quotes, the need to invest in good coverage becomes quite clear.
Tags: auto insurance, boat insurance, car insurance, car insurance tips, motor insurance, vehicle insurance
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