| There is no right answer when someone asks which | | | | your boat unless you're insured. Additional coverage |
| boat insurance company is the best. Most boat | | | | can be obtained by purchasing a boat policy, a yacht |
| owners are simply looking for an insurance company | | | | policy, or a personal watercraft policy. It should be |
| that knows about boat coverage and provides quality | | | | noted that, in the pleasure boating industry, boats |
| service as well as support. Insuring your boat with | | | | can be insured either under a yacht policy or a boat |
| the same company that issued your auto, life, or | | | | policy. One of the main criteria insurers weigh when it |
| homeowners insurance can have certain advantages. | | | | comes to insuring a boat or yacht is the owner's |
| Though it does pay to work with a company who | | | | boating background. Most yacht policies today also |
| thoroughly understands boat and yacht insurance. | | | | include a specific amount for personal property |
| With any luck your present insurer knows a good bit | | | | carried or stored aboard, other than regular boat |
| about boats. If not, your best option is probably to | | | | equipment.Damage to Your BoatDepending on how |
| go with experienced boat insurers.Liability | | | | you use your boat, you may or may not want |
| CoverageWhile there may be some variation in boat | | | | coverage for fishing gear, hurricane damage, |
| policies, the main types of coverage are physical | | | | hurricane haul-out expenses, etc. Physical damage |
| damage and liability coverage. The limit of liability | | | | insurance is usually called hull insurance although it |
| varies based on whether or not the insured is legally | | | | takes in the whole boat. In fact, there was not one |
| required to raise, remove or destroy the boat. Theft | | | | but two insurance coverage forms designed to |
| will not be covered if the boat is off the "residence | | | | protect against damage to stored boats. These |
| premises." Liability coverage is only available for | | | | policies usually also REPAIR the boats with a |
| certain smaller boats. Basic boat insurance should | | | | deduction for depreciation. The restrictions and |
| always cover physical damage as well as liability. | | | | limitations on material damage to the boat, as |
| Liability may also provide the necessary coverage for | | | | provided by homeowners insurance, are many.Value |
| legal representation should it become essential from | | | | is ImportantYou should insure your boat for market |
| any incidents involving your boat.Don't forget to | | | | value. A basic policy which will insure your boat for |
| insure your boat against damage, sinking, and most | | | | depreciated value will be the cheapest. Another |
| importantly, accident liability. Personal Umbrella policies | | | | option is to insure the boat for an agreed upon |
| provide you with an extra layer of liability coverage | | | | replacement value. The higher the agreed |
| above and beyond what your auto, home or boat | | | | replacement value of the boat, the higher the |
| policies provide. Therefore, a specific boat or yacht | | | | deductible and the cost of the insurance policy. They |
| policy is required to provide coverage for the boat | | | | should insure the value of the boat - not what you |
| and equipment, personal property and liability.Insuring | | | | paid for it. should also increase the coverage to |
| YachtsGenerally speaking, yacht coverage is broader | | | | reflect the increasing value of the boat.Rory H. |
| and more specialized because larger boats travel | | | | Hawkins writes about boat insurance guide and other |
| further and have more unique exposures. Also, many | | | | interesting topics. For more information on boat |
| marinas and yacht clubs won't allow you to dock | | | | insurance company visit us today. |