Boat Insurance

Not all boat insurance policies are alike. Nor are the companies that underwrite them. Most important, not every boat requires the same coverage.

The reason this subject matter is even mentioned here, is not to suggest what kind of coverage you should or shouldn't have, rather to suggest you re-evaluate your current policy to ensure it offers you the protection you might need if you ever get into a situation that requires an insurance claim be filed. By then, it'll be too late if the coverage isn't adequate for the situation.

If you're looking for coverage for a small rowboat on a private lake, your Homeowners Policy will probably offer more than satisfactory coverage at a minimal price.

On the other hand, if your boat is larger, and if you're navigating larger lakes, rivers, bays, or even going offshore, your coverage needs are likely to be entirely different.

Now you'll need to give consideration to the likes of age and value of the vessel, cruising area, power, medical coverage, liability coverage, uninsured boater coverage, fuel spill liability (even for minor, unintentional spills), salvage assistance, and even hurricane haul-out if you keep your boat in an area prone to hurricane activity.

Below is a list of companies specializing in marine coverage, some of which specialize in high performance boats as well.

If you not certain your present coverage is up to standard, check with them to see what improvements might be made. Like I said before, it will be too late if you wait until after you need help.

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