page loader

Boat Insurance

Boat insurance is exactly what it sounds like when talking about trying to get coverage. The insurance is to cover any kind of damage your boat either takes or in the rare occasion when you damage someone’s else’s boat or property with your boat.

There are a couple different kinds of coverages you can purchase for boat insurance. The first is called “”agreed upon hull value.”” This is a value of the boat you and the insurance company have agreed upon when you purchase the policy. If the boat has been deemed to be a total loss due to damage or an accident, this is the amount the company will pay you.

There is also an actual cash value coverage. This coverage usually leads to lower premiums but you may also get less money in the case of a total loss. The company will pay you the market value for your boat based on a number of factors, including the shape of the boat at the time of the total loss.

There is also a liability only policy that won’t pay you anything if your boat is a total loss, but will pay off bills that might be wracked up if you are damaging someone else’s property. The insurance company will also handle towing and salvage of your craft should there be a total loss incident.

Most insurance policies will cover the entire cost of salvage, no matter what kind of policy you have taken out. Most policies also have a medical coverage option that kicks in if you or your passengers are injured onboard your boat. Most policies that cover boats are also going to cover fuel spill cleanup. This kind of thing is unique to these kinds of crafts before a wreck is going to happen out on the water more often than not. These wrecks aren’t going to spill glass or metal all over the highway. Instead, a boat can lead to some rather nasty chemicals such as fuel being spilled into bodies of water. The insurance companies make sure policyholders aren’t on the hook for the cost of getting those chemicals out of the water.
Jump to top

Boat insurance is exactly what it sounds like when talking about trying to get coverage. The insurance is to cover any kind of damage your boat either takes or in the rare occasion when you damage someone’s else’s boat or property with your boat.

There are a couple different kinds of coverages you can purchase for boat insurance. The first is called “”agreed upon hull value.”” This is a value of the boat you and the insurance company have agreed upon when you purchase the policy. If the boat has been deemed to be a total loss due to damage or an accident, this is the amount the company will pay you.

There is also an actual cash value coverage. This coverage usually leads to lower premiums but you may also get less money in the case of a total loss. The company will pay you the market value for your boat based on a number of factors, including the shape of the boat at the time of the total loss.

There is also a liability only policy that won’t pay you anything if your boat is a total loss, but will pay off bills that might be wracked up if you are damaging someone else’s property. The insurance company will also handle towing and salvage of your craft should there be a total loss incident.

Most insurance policies will cover the entire cost of salvage, no matter what kind of policy you have taken out. Most policies also have a medical coverage option that kicks in if you or your passengers are injured onboard your boat. Most policies that cover boats are also going to cover fuel spill cleanup. This kind of thing is unique to these kinds of crafts before a wreck is going to happen out on the water more often than not. These wrecks aren’t going to spill glass or metal all over the highway. Instead, a boat can lead to some rather nasty chemicals such as fuel being spilled into bodies of water. The insurance companies make sure policyholders aren’t on the hook for the cost of getting those chemicals out of the water.
Jump to top






Share: