Frequently Asked Questions About Boat Insurance

by Administrator 23. June 2018 11:44

There are a plethora of boat insurance coverages. The right type of boat insurance is one that will cover accidental losses and damage to a boat and also the cost of legal issues that spring up from any physical damage caused to another by the boat or its equipment. Following is a list of some frequently asked questions regarding boat insurance.

  •  What Is The Cost Of Getting Boat Insurance?

The cost of boat insurance depends on factors such as where the boat is situated, how skilled the operator is, its size, type and what it is used for.

  •  How Can I Reduce The Cost Of Insurance?

Insurance for boats in coastal areas cost more than boats in inland areas. So the area you use your boat in will have a direct impact on the insurance cost. Also, most insurance companies offer discounts to those who have an approved boating safety course or with a decent driving record.

  •  How Much Insurance Coverage Do I Need?

The insurance coverage of newly purchased boats is their purchase price. It consists of value of the boat, motors and attached equipment in the form of electronics.

  • What Kinds Of Losses Are Covered By Boat Insurance?

Each insurance company varies as far as the types of losses covered by boat insurance are concerned. It will be helpful to consult a professional to help you out with choosing a boat insurance policy that best suits your individual needs.

  • Will Anyone Driving My Boat Be Covered By The Insurance?

Usually, anyone you give permission to ride your boat is covered by the insurance but there are always exceptions. Some policies have a named operator endorsement in which case only the operators mentioned can operate the boat.

  •  What Happens During The Lay-Up Period?

Boat insurance will cover the vessel, provided it is out of commission and not being operated. However if you want to use your boat during such period, you must request for an endorsement that allows you to use the boat temporarily and still get coverage. It is important to note that a boat which is stolen during a lay-up period is fully covered.

  •  What Are Navigational Limits?

In order to remain covered, the boat should be within the navigational territory mentioned in the policy. If you want to be covered when beyond such a territory, you will have to obtain an additional coverage from the insurance company giving you permission for the same.

We, at Shawn Camp Insurance Agency, Inc., offer boat insurance to our clients in Killeen, TX. We are located at 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542. You can also call us at (254) 526 – 0535.


 

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