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How To Shop For Boat Insurance
By: Ian Major
If you have a boat, you need boat insurance!
Shopping for boat insurance is a bit different from shopping for car insurance,
even though the concept is much the same. Boat insurance will protect you
against losses incurred while operating your boat, and while transporting your
boat. Most boat insurance includes coverage for the boat, the motor, and the
trailer.
When shopping for boat insurance, it is usually best to start with the insurance
company that insures your cars and your home. Insurance companies usually give
deep discounts to their current customers. Most insurance companies will also
give deep discounts to people who have successfully completed a boating safety
course.
Ask each insurance company that you contact about such discounts. In most cases,
they won't tell you about the discounts unless you specifically ask.
Don't settle for the rate that your current insurance company quotes! Just get
the quote, and tell them you will call them back soon. Using that quote as your
base, you need to see if you can get the insurance cheaper elsewhere.
Using online resources is a great way to start. Get the quotes, and then contact
the agents personally to see if you can work out a better deal. Believe it or
not, insurance companies will compete with each other for your business. Don't
be afraid to tell them the lowest quote that you have been given so far – make
them work for your business!
Know what type of insurance you want and need before contacting any agents. Some
agents will try to sell you too much insurance, causing your premiums to
skyrocket, while others aren't as knowledgeable about the insurance needs of
boat owners and won't sell you enough coverage!
You should be protected against losses caused by sinking, fire, storms, theft,
capsizing, stranding, collision, and explosion. The policy should cover anchors,
oars, trolling motors, fuel tanks, seat cushions, skis, tow ropes, dinghies,
tools, canopies, life preservers, and any equipment that is permanently attached
to the boat.
The different types of insurance that you need include Watercraft Liability,
Watercraft medical payments, Newly acquired watercraft coverage, coverage for
repairs, coverage for emergency services, and coverage for wreck removal. In
most states, the liability coverage entails Watercraft Liability and Watercraft
Medical Payments.
Watercraft liability will protect you in the event of an accident that results
from the ownership, maintenance, or use of your boat. It should include bodily
injury coverage, property damage coverage, and even legal defense coverage. It
should also protect anyone who drives your boat, as long as they were legally
allowed to drive the vessel.
Watercraft Medical payments coverage will pay medical expenses up to specific
limits for you and the occupants of your boat in the even of an accident.
Other types of coverage are usually voluntary, but should be strongly
considered. There is quite a bit that can happen when you transport or operate a
water vessel, and protecting yourself legally should be a high priority!
Again, know what you want in terms of coverage before you talk to an agent, and
make sure that you get the coverage that you need.
Compare rates online, and then contact the agents that offer you the lowest
quotes. Attend a boating safety course, and make sure that you get that
discount! Once you've found lower rates than the original quote that your
current insurance company offered you, call them back and let them know that you
found a lower rate. See if they can compete – in many cases they will offer to
match that rate, just to keep your business! Again – make them work for your
business!
CopyRight Ian D. Major 2005.
About the Author:
Ian D. Major makes it easy to understand Boat Insurance, quickly and easily.
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