Whether your boat is designed for sailing, fishing, entertainment, or all of the above, it deserves special attention from an insurance agent who knows boat insurance, also known as personal boat coverage (PWC). You should also work with an agency that has access to major boat insurance companies with superior risk management and claim services offerings. In a nutshell, boat insurance is designed to cover your property, your personal liability for accidents that occurred on the water and damage caused by uninsured boaters. Your boat insurance premium is based on many factors, such as the size and power of the boat, the place of use and the frequency of use.
Ask your agent about any special considerations you may have (for example, if you're comparing two or more quotes, be sure to make a comparison between apples and apples, that is, are certain “standard components”, such as towing services or emergency transportation, included in both options? There are also different types of policies depending on the type of vessel. According to the state of Massachusetts, a policy will protect you against a number of hazards, which are defined as events or incidents that damage your boat. These include collisions, fires, windstorms, robberies, lightning and acts of vandalism. These policies generally don't cover acts of war or poor boat maintenance (in other words, you can't file a claim for damage if you don't take proper care of your boat).
A typical boat insurance policy will cover property damage and will help replace or repair any personal items that may have been lost or damaged. Most boat insurance policies allow anyone to operate your boat, as long as you have given your permission. You may be able to receive what's called a “pay-per-payment discount.” The best thing is to call us to discuss your coverage possibilities throughout the year. Yacht coverage is usually broader, since these larger vessels tend to make longer trips, increasing the risks of risks and exposures.
Ships tend to stay closer to the coast. At Miles Insurance Agency Inc. , some boats or smaller boats may even be covered by your current homeowners policy. The size, type and value of your boat, jet ski or jet ski will be part of the determining factors when evaluating your insurance coverage needs in Lancaster, South Carolina.
When it comes to insuring your boat, it's often best to separate your boat insurance from the owner's policy. To determine the appropriate insurance coverage, financial limits and premium, the insurer will normally consider the size, type and value of the boat and where the owner plans to sail or motorize it, according to the Insurance Information Institute.