Understanding Boat Insurance – Do You Know What’s Covered?

Maybe you’re new to boat ownership – or maybe you’ve had your boat for quite some time – but either way, it’s a good idea to review your boat insurance coverage from time-to-time. 

Do you know what’s covered?

Many boat owners bought boat insurance when they purchased their boat, but aren’t that familiar with the terms and what’s covered. Here are a few tips from Buxton Marine in Lewisville, Texas on what to look for:

Towing Insurance

When you are traveling to and from the lake with your boat, who pays for what? Many auto insurance policies will cover an issue that could occur while you are towing, such as someone side swiping your boat. You can also get towing insurance to ensure everything is buttoned up and covered. Talk with your agent to find out what’s included and how to fill any gaps in coverage.

Policies Vary

There are lots of specific terms involved when it comes to boat insurance, and there is no "one size fits all" solution. Property damage liability, bodily injury liability, collision damage coverage, coverage for theft and damage, salvage coverage, etc. These are all terms that vary by policy, and it’s important to know exactly what you have on your specific insurance policy.

How to Get a Discount on Boat Insurance

Each insurance company is different, but there are a few ways that insurance companies typically offer discounts on premiums. If you’re looking for discounted coverage, consider bundling your insurance policy with home or auto insurance, as many insurance companies will offer a discount for that. Also, taking a boat safety course or removing your boat from the water for various times of the year are also ways in which boaters have been able to find some savings. 

Need help finding a company for boat insurance? Call us at Buxton Marine - the best boat dealer in Dallas - and we can offer some suggestions based on our industry experience. We also specialize in boat financing to help you get into the Nautique of your dreams.