Are you ready to fulfill your dream of boat ownership? Fun on the bay with family and friends, relaxing weekend fishing trips, sharing a dazzling red sunset on the water with that special someone – boat ownership can be all this and more. This romantic notion has a practical side, which, if ignored, can turn your dream into a financial nightmare. Don’t let this happen to you. Learn the ropes about proper boat insurance.
Homeowner’s insurance will not cover your boat. While it’s true that some homeowner’s policies will cover up to $1,000 in damages, this only applies when the boat is parked at your house. They don’t cover accident damage when you’re out on the water, and they don’t pay medical bills in case someone gets hurt. They don’t pay for damages to someone else’s boat if you are determined to be at fault in an accident. Without boat insurance you could find yourself on the receiving end of a costly damage suit. Protect yourself and your assets with proper boat insurance.
Boat insurance covers property damage and liability, protecting your assets in the event of a lawsuit. Typically it’s purchased in $100,000 increments. Typical policies may not cover loss of personal property kept on your boat. If you do a lot of fishing, you probably have some very costly rigs and tackle. What about your depth finder and ship-to-shore radio? For that, you’ll likely need to add a personal property rider to your policy. Be sure to ask your agent about this.
You also can buy uninsured boat coverage to protect you from damages caused by uninsured boaters (much like uninsured motorist coverage). There’s also a rider for towing in case your boat breaks down and additional medical payment insurance, which covers injuries to passengers on your boat when no collision is involved. Our Independent Agents at Veazey Insurance Agency are on hand to discuss your specific boat insurance needs.
Adding the riders mentioned above may give you peace of mind, but they can get quite costly. Here are 5 Ways to Save On Boat Insurance In Mobile, Alabama and Baldwin County:
- Choose the highest deductible you can afford. While this option means more money out of pocket In the event of a claim, it also means lower premiums. Over a period of many months or years this can translate into significant savings.
- Take a Boating Skills and Water Safety Course. The U.S. Coast Guard Auxiliary offers this course free. They can reduce your boat insurance premiums by up to 20% in some cases. Find classes in Mobile and Baldwin County here: http://www.cgaux.org/boatinged/class_finder/index.php.
- Newer boats are easier to insure, but you can get good coverage and discounts for older vessels. Passing a free boat inspection from the U.S. Coast Guard Auxiliary could help save you money on premiums. Find out more information here: http://wow.uscgaux.info/content.php?unit=V-DEPT&category=i-want-a-vsc
- Experienced boaters can get better rates than novices. Over time, your premiums will go down, especially if your boating and driving records are clean. Ask us about our special discount each year you renew without having filed any claims.
- Practice safe boating! Boat insurance is a lot like car insurance. Reckless behavior on the water can lead to costly violations. If they are severe or numerous, they will lead to higher premium cost or even cancellation of your boater’s insurance. More importantly, safe boating practices protect the lives of you and your loved ones.
Our Independent Agents work hard to get you the best rates on boat insurance for non-commercial vessels up to 45 feet in length. Contact us today to find the best coverage and rates. At Veazey Insurance Agency we’ve got you covered!