A boat is often regarded by water-spots fans to be a vehicle universal for the great deal of recreational activities, such as water-skiing, fishing, wakeboarding, riding to some special vacation destination, as well assailing to holiday getaways, or just even for lounging about. However, a boat is not a cheap and unpretentious means of travelling and needs special care and investments. Since it is always kept in water, it is very much vulnerable to many external risks. Thus, it is an essentially good idea to insure your boat.
1. Classify your boat and estimate the kind of insurance you need in your particular situation. You can insure your vessel as a “boat” if it is no more than 26 feet long. If longer, it is called a “yacht” and needs another type of coverage. Determination of the value of your exact boat is important for facilitating the process of choosing the right coverage.
2. The next step is to become a member of the National Boat Owners Association and contact it. This association provides very important information on all questions connected to boat insurance.
3. Visit special web-sites about insurance, such as the site of the American Boating Association in order to find a quote, or United Marine Underwriters, which is one of the oldest among the companies offering boat insurance.
4. Each type of coverage should be analysed thoroughly, in order to find out if it corresponds with your requirements, especially the ones concerning physical damage. Bear in mind that the premiums depend on the type of the coverage. There are different types of coverage, such as liability, which protects you in case of an accident from legal action, or medical, protecting health of the passengers on board if an accident happens.
5. Since boat insurance is not mandatory, there is high percent of uninsured boat owners. Therefore, in order to secure yourself in case you get involved in a boat accident with somebody who is not insured, it is recommended to obtain uninsured boat coverage. It will help you make sure your boat is guaranteed to be safe and sound.