Time to Review Your Boat Insurance Policies!
At Buxton Marine, located in Lewisville, Texas we know how exciting it can be when you purchase a new boat. However, often times boat insurance is an afterthought. Boat Insurance is an absolute must when purchasing a boat. Whether you have 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 and make sure there are no gaps in your coverage. Many boat owners will assume they have certain coverage when, in fact, they do not. Or perhaps your situation changed, and your boating needs will need to be adjusted to reflect that. What are some things to consider when reviewing your policy?
Tailored Policies
Everybody has different needs and wants when it comes to what needs to be insured. How do you store your boat? How often do you use it? Do you tow it often? Will you take it out of the country? All of these things need to be thought through when determining what type of coverage is needed. Review your policy carefully and understand the ins and outs of bodily injury liability, collision damage coverage, theft coverage, salvage coverage, property damage liability, etc. Your insurance agent can give you specific advice on how to get the policy you need.
Land Transportation Coverage
Many times, boat owners will assume that their boat is always covered by boat insurance. However, that is not true. Boat insurance covers the boat while it is in the water, but often leaves gaps in coverage for land transportation, towing, storage, etc. It is important for you to know what will happen if your boat is damaged while being towed. Does auto insurance cover it? What if it is being stored at your home and a storm damages your boat? Does homeowners’ insurance kick in? These are important things to consider when addressing how various insurance coverages overlap, or don’t.
Savings Opportunities
Just like other types of insurance, there are ways for boat owners to save on boat insurance. Premium discounts are often given for bundling your boat insurance with home or auto, taking a boat course, or having a good driving record. You may also be able to get discounts for months when the boat is not taken out 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.
We know once your purchase your boat you just want to get out on the water and have fun. However, boat insurance is vital for yours and everyone else’s safety.
At Buxton Marine we are prepared to exceed your expectations. Our friendly and knowledgeable sales, financing, service, and parts department are prepared to make sure your experience is outstanding, from assisting while you’re making a choice on which boat to choose to ongoing maintenance and customization. We value the opportunity to create long-term relationships with our customers. We look forward to seeing you soon!