Boat Insurance: Do You have the Coverage You Think You Have?
When you purchase a boat, it’s necessary to go ahead and purchase boat insurance. Many times, it’s an afterthought! After all – you just purchased an amazing boat and are ready to enjoy it!
Whether you’re been a boat owner for years or are brand new to boating, it’s important that you take the time to review your boat insurance coverage on a regular basis to make sure that there are no gaps in coverage. Many boat owners assume they have certain coverage when, in fact, they do not. Or maybe your situation has changed and your boating insurance needs must be adjusted as well. Let’s talk about a few things to consider when reviewing your policy:
Policies Can be Tailored to Your Needs
Each person has different needs when it comes to what needs to be insured. How do you store your boat? Do you use Nautique boat covers in Lewisville? How often do you use it? Do you tow it often? Do you take it out of the country? All of these factors help determine the types of coverage needed. Review your policy carefully and understand the ins and outs of bodily injury liability, collision damage coverage, theft insurance, salvage coverage, property damage liability, etc. Your insurance agent can give you specific advice on how to get the policy you need.
Look for Ways to Save
Just like with other types of insurance, there are ways that boat owners can save when it comes to boat insurance. Premium discounts are often given for bundling your boat insurance with home or auto, taking a boat safety course, or having a good driving record. Discounts might be given for certain accessories – like Nautique boat covers in Lewisville. You can also ask if there are any discounts given for months when the boat is not being used and stored away. These discounts are called lay up discounts and are given for the time your boat is “layed up” and out of use.
Land Transportation is Not Always Covered
Many boat owners falsely assume that their boat is always covered by boat insurance, but that is simply not the case! Boat insurance covers the boat in water, but often leaves gaps in coverage for land transportation, towing, storage, etc. It’s important to understand what happens if your boat is damaged during towing. Does auto insurance cover it? What if it’s being stored at your home and a storm damages your boat? Does homeowners insurance kick in? These are important items to consider when addressing how various insurance coverages overlap.
If you’re looking for Nautique boats, Nautique boat insurance, Nautique boat covers in Lewisville – and everything in between! – come see us at Buxton Marine! We have the #1 Nautique dealer in the country, and we would love to help you get the boat and the boating insurance you need.