If you are looking to have fun summer adventures on the water, you don’t want to imagine an accident with your boat or expect this water vehicle to break down. Although you may not be able to prevent each water accident even with much safety precautions, you can ensure that insurance covers you. A number of people who own a boat believe that boat insurance isn’t important since state law does not require it. But the following are some of the reasons to have boat insurance.
Your Homeowners Policy May not Cover your Boat
Those who buy a bought for the first time mistakenly think that they don’t need boat insurance as their homeowner’s insurance policy covers their boat. However, this is not the case for the majority of homeowner’s insurance policies. And even if your homeowners’ insurance covers your boat, it is often limited to a boat less than 16 feet and has low value.
It is Likely that Marinas will Require Insurance Proof Before You can Dock your Boat
Despite boat insurance not a state requirement, marinas require you to hold boat insurance coverage before signing a contract for mooring or a slip. Marinas will want to ensure you have a way to pay damages caused by your boat while it’s at them. Additionally, when you plan to take part in organized boating events, you may be required to show boat insurance proofs as well.
Proof of Insurance May be Required at Boat Dealerships Before Funding your Boat
When you request financing from a boat dealership to purchase your boat, you will need to boat insurance proof. Even if you will not be financing your boat, having insurance quotes ready will help in accelerating the whole purchase process. Also, it can help to find out how different boats can impact your rates every month. Let an agent from Amco Insurance walk you through the process.
Boat Insurance Can Cover Accidents, Vandalism and Theft
Like homeowners insurance, boat insurance covers you when somebody is injured while using your boat. Also, it covers you when your boat causes any injury to another property or person. Comprehensive boat insurance offers extra coverage for vandalism, theft, fires and floods. Consult with a reputable provider of insurance services in Miami Florida on the coverage.
Towing Prices can be Ridiculous
If you don’t have boat insurance, you would have to deal with extreme towing costs when your boat breaks down or in case of a boat accident. Putting aside the actual repair cost, the towing costs can take a chunk of your wallet. But with boat insurance, such costs may be covered saving you from the headache.