Your Boat insurance Information

Only the foolhardy boat owner doesn’t have insurance, particularly some third party cover in case of personal injury or property damage through accident or collision. The standard insurance form varies little from one company to the other. You’ll be asked questions about the design, registered number if there is one, construction, type of motor, the rig, what equipment and accessories are on board, the sails, mast, standing and running rigging and so on.

With motor boats you’ll be asked details of the engine, whether it is turbo charged, what fuel it uses, and very importantly, what sort of extinguishers are on board and when they were last serviced. The insurer naturally wants to be certain their risk is as little as it can possibly be.

When it comes to accessories it pays to be very careful indeed to list all that you have on board. List the serial number and sums insured on as many of the items as can be insured – items such as personal effects, fishing gear, cameras, binoculars and transistor radios are not insurable. The equipment and accessories cover actually applies mainly to safety equipment required by statute and other equipment intended for safety use on the boat. The sort of items you can insure are life- rafts, radios, radars, radio direction finders, autopilots, depth sounders, compasses, and even the dinghy, the propeller, and auxiliaries if you have them. But if you intend to go more than 200 km (124 miles) off the coast you’ll have to fill out a blue water cruising or racing extension. This normally adds about 20% to the premium.

In the case of races it is straightforward. You say where you are going, how long the race is, and when you expect to finish. If you are going on an extended cruise the insuring company or broker will want to know much more about the vessel in terms of its internal and external ballast, whether it has a centerboard or lifting keel, what sort of self-steering it has, the type of construction, and particularly the thickness of the topsides, deck, and cabin top. There will be a number of items covering radio call signs, the color of various parts, the sort of radio sets and the frequencies on board, what radio watch schedule is proposed and more details about the engines. These items are needed in case a search has to be initiated.

The insurer will also want to know when the vessel was last surveyed and have a copy of that survey attached to the questionnaire. Very importantly, for extended cruising you will have to advice your itinerary. If you don’t have one you’ll need to define by latitude and longitude the area in which you plan to sail and advise the departure date and the date of completing the voyage.

The insurers will want some idea of the history of the vessel and the ability and experience of the person in charge. This has a bearing on the premium. Insurance is a competitive game, but it is best to deal with a company which specializes in marine insurance and so has experience. Evidence of insurance helps satisfy customs that the vessel is yours and that you won’t be a burden in their country. A document proving insurance is very good prima facie evidence of ownership.

The Houston boat insurance market is large because of a huge population near the gulf and lake areas. Several different types of coverage’s are available and most insurance companies will allow you to select a package to fit your needs.

The most important coverage is liability. This would pay for injury to other people and or their property up to the policy limits. The liability coverage may also include pollution coverage if your boat suddenly discharges a pollutant into the water. You will probably have several levels of limits to choose from. I suggest a high limit for this type of policy and the cost to upgrade to a high level is usually small.

Most policies will offer an option to get uninsured watercraft coverage. This would give you coverage in the event another watercraft injures you or damages your property, if they have no insurance coverage. This is valuable protection and the cost is usually quite low.

There will be an option to get medical payments coverage at additional cost with most policies. This will usually come with options for the amount of coverage.

Coverage for your watercraft will usually cover things like collision, fire, theft, vandalism, and other named risks. There may be an option to insured your boat for a preset value (agreed value), or the policy may state the coverage is for the actual cash value of the watercraft. If you have a trailer you can usually insure that on the same policy. You will generally have a choice of deductibles to choose from. Larger deductibles will result in lower insurance premiums.

Other options may be available so ask your agent to explain all your options. Also be sure to deal with a financially stable company with a good reputation.

Texas residents can visit our boat insurance Houston site for more information. Or call our office at 281-537-2700.

Boats are major investments and they must be adequately protected. Boating insurance facilitates this. If you are not covered with an insurance policy and your boat was to be in an accident, you will in all probability have to pay for the other boat’s damage as well as for your own of course. That is a basic rule of insurance, and is the same with car and motor cycle insurance as well.

Burglary and vandalism is a growing problem with boats. A boat that is not insured can cost you a lot apart from the fact that it will stress you out. So, thanks to the reason you are covered by a comprehensive insurance policy helps things, provided that it is available at an affordable cost of course. That is why you need to make sure you study your quotations well before you commit to any one insurance provider.

You could get your insurance quotations over the internet, and there are a few advantages in doing so. For one thing, it is a fast and easy procedure. All you would need to do is fill in an online form with the requested information. More often than not you will receive a call or an email with the quote in a matter of hours if not minutes.

You can make comparisons between different insurance quotes without much difficulty and easily work out the kind of coverage each provides. You will then be in a good position to choose the right one for the job. You can also make a comparison between interest rates and find out the type of discounts offered.

When you have a few quotations from different insurance companies, do study every one well. Then you will be in a perfect position to select the right one for you. This is the vital stage of your selection process, so do take appropriate time to get this done.

The more accurate the information that you provide initially, the more accurate would the boat insurance online quotation. There is no point in being dishonest when you provide the info, as it will only postpone a little disappointment. If your boat is in very bad shape, you may find it hard to get covered by a comprehensive policy. In such case, go for a third party insurance.

Once you narrow down your options you will apply to one of the service providers. Then the provider assesses the initial info you had given them against the condition of your boat. If it does not tally from the initial information that you provided, the company will deter from the initial online quotation it had provided you with. So stick to the truth, and all should be well.

Is your boat adequately covered by insurance? If you’re not positive you’d better check your policy. Boat owners mistakenly assume their boat is covered by their homeowners policy. That could be a very expensive assumption.

Unless you’ve added your boat to your policy and paid the extra insurance cost, any damage to your boat might not be covered if you have a wreck while towing your boat. The same problem could arise if your boat is on your homeowners policy and you store it off your property. If the place your storing it burns down or your boat is stolen, you might not be covered at all.

Independent agents who sell insurance from several companies can often find the best deal for your particular circumstances. Probably the easiest and cheapest way to insure your boat is to have it added to the homeowners policy as an endorsement. This usually means giving your insurance agent a description of your boat, motor and trailer, along with the identification numbers and cost. It’s important that these costs are broken down, in the event that just the motor is stolen. With the boat attached to your homeowners policy you can go fishing in it with more peace of mind.

You’ll have to be careful though, to make sure you’re covered if you go out of the state with your boat. Your homeowners policy might not cover all your liability either. This is something your insurance agent should be able to tell you

You can buy a boat and the liability will extend from your homeowners policy. But once you’re on the water or move it to some location other than your property there is no coverage for that boat. But if you specifically insure it, then your insurance follows the boat. Even on your own property, your homeowners policy may cover the boat to a specific amount, a lot of the times $1000 is that specific amount. That amount barely covers the trolling motor and batteries on most bass boats. When buying a boat call your insurance agent before making the purchase. The same is true if replacing the motor or adding on a new trolling motor. Unless you tell your insurance agent of the boat, you could be out of luck if either of them are stolen.