Boat Insurance Policies

Boat insurance policies differ from company to company. Nevertheless, there are certain unifying practices among all companies that you should be familiar with. To help you become better acquainted with the basic set of preliminaries that are more or less universally covered by a boat insurance company, we’ve gathered some useful information to keep you in the loop.

What do boat insurance policies cover?

Boat insurance is one of the broadest types of insurance. Combining much of the coverage areas of car and home insurance, boat insurance policies are typically classified into nine different categories, as listed below:

● Medical
● Tender
● Personal Effects/Equipment
● Towing
● Uninsured Boaters and Workers
● Property
● Liability
● Pollution

Within some rare cases, there are certain distinguishing policies included in the insurance, depending on the company issuing the insurance.

What are the most common cases for boat insurance claims?

There are a few standard situations that nearly every insurance company coves. To name a few, you are eligible to file a boat insurance claim in the case that your boat is vandalized or stolen, if your engine fails, if you or one of your passengers is injured in a boating accident. Also, you should file a claim in any events that cause property damage to your boat, such as natural disasters or small boating accidents. These are common misfortunes that befall boaters, and most people who have been in the boating game long enough are all too knowing of how plausible these circumstances are. Among the most common boat insurance claims include a collision with another boat, boat theft, hitting an underwater object, and more.

How to interpret the policies included in your boat insurance

Boat insurance policies can be very diverse, so you must choose a company carefully. It would be wise for you to educate yourself about the underlying focuses of each company’s policy to choose the most appropriate policy that caters to your boating lifestyle. Moreover, keep this in mind before you sign the documents that finalize the policy of your choice. While this is not compulsory and usually an insurance agent serves to give you a breakdown of the insurance, it wouldn’t hurt to give the details a second look. A second pair of eyes never hurt, and this simple act could save you the headache later. Also, if you are interested in our selection of top-quality boats at Vessel Vendor, view our current list of boats for sale.