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Boat Insurance Policies

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Boat insurance is required by law in all 50 states, and you must purchase insurance for each vessel you own. Your tiny fishing boat and a large yacht must carry insurance, and this article explains how these policy help you.

#1: What These Policies Do

Boat insurance policies protect your boat whether it is on the water or being towed behind your vehicle. The insurance policy uses the value of the boat and you piloting record to determine a price. You pay a premium every month for protection, and you may file claims at any time. The process is simple, but you must keep your policy in good standing.

#2: Deductibles

Deductibles for your insurance policy are required before your boat repairs are completed. A policy that has a $1000 deductible requires you to pay a deductible up to $1000. The policy pays for repairs beyond that amount, and you must satisfy that deductible every year.

#3: Benefits Of These Policies

An insurance policy for your boat allows you to repair your boat, replace your boat and receive special services. Your policy will pay the total value of the boat if it sinks or is totaled, and the policy offers assistance at sea if you are in trouble. Check with your insurance company to see how far these special services go.

#4: Policy Choices

Your policy will be expensive if you take out coverage that is comprehensive. These policies will pay to replace your boat, replace your personal items and medical bills after accidents. A comprehensive policy is more expensive, but it provides you with more services.

Collision policies protect you without all the special services mentioned above. You may get your boat repaired, but you cannot get any special help from the insurance provider. The policy is much cheaper, and it helps when you have no need for extra benefits.

The best way to protect your boat is with an insurance policy. You can choose how much you want to spend on the policy, and you can choose the special services the carrier provides to you.

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