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Are You Using Your Boat Insurance Properly?

Are You Using Your Boat Insurance Properly?

If you’re enthusiastic about boating, you should. However, a lot of boaters don’t realize their boat insurance isn’t up to date. Keep reading to make sure that you’re getting the most out of it.

  • Don’t rely on your home insurance.

    Your home insurance doesn’t cover your auto insurance in Hialeah, Florida. So, why should it include your boat insurance even if you store it in your garage? Don’t make assumptions that can lead you to disastrous consequences.

    It’s important for you to get a boat-specific policy. Why is that? In case you aren’t aware, most homeowner policies don’t touch on boating and boating accidents. This leaves you unprotected while you’re on the water.

    If you do have a homeowner’s policy, double-check if it comes with boat coverage. If it does, good for you. But, if it doesn’t, don’t worry. You can apply with us anytime.

  • Don’t forget to check the limitations.

    Of course, boat insurance policies have their own scope. It helps determine the amount of insurance companies will pay in the event of a claim.

    Also, you should know that most boat insurance policies also limit where your vessel can go. This is referred to as the navigational limits. With these limits in effect, your boat is required to remain at a certain distance from:

    • The dock or moor
    • The launch site
    • The shoreline

    You should avoid taking your boat beyond the point of a policy’s limits. If you do, it can void the coverage.

  • Don’t cancel your coverage.

    During the offseason, most boaters put a hold on their boat insurance policy. Doing this is supposed to help them with penny-pinching. But, what they don’t know is that this isn’t exactly a smart idea.

    First of all, canceling your boat insurance leaves it unprotected. Sure, your vessel might not be in use as of the moment. But, that doesn’t mean it can’t sustain damage while it is in storage. If something happens, you will need to pay out of your own pocket.

    Secondly, canceling your insurance for a time can cost you more money. Why is that? Insurance companies raise your premium if there are gaps within your payment history.

    So, what’s a better solution? Go for a comprehensive boat insurance policy. One that can protect your vessel in and out of water.

  • Don’t be picky about which boat equipment to insure.

    Prioritizing one over the other is a big no when it comes to getting boat insurance. You should get a policy that covers not just the boat but also:

    • The trailer
    • The standard boating and safety boating equipment
    • The electronics
    • The sports equipment

What’s that, you don’t have boat insurance yet?

Don’t be late to the game. Make the smart decision and get in touch with Amco Insurance today. We have experts that can walk you through the process. No need to break a sweat!

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