Unlike home or automobile insurance, boat insurance policies can vary considerably from one company to another. What type of navigation insurance is best for you? Try these tips. They come from experts from the largest association of recreational boat owners in the country, BoatU.S.
Know your insurer: one way to find a good insurer is to ask friends who have already filed a claim. Insurance companies can accept monthly premiums, but the best way for a company to meet expectations when something is wrong is a better indicator.
Insurance for the home or separately: consider hiring a separate insurance policy for the boat, instead of adding it to your policy, as it often limits some of the risks related to the navy, such as salvage, sequestration, shipwrecks, pollution or Damage to the environment. Regardless of the amount for which the boat is insured, you must have separate but equal funds for all rescue work. This means that you receive compensation for the loss of your boat and that you do not have to pay extra to have the remains of a waterway removed.
Agreed value versus current value: these are the two main options that sailors face and the depreciation that distinguishes them. A policy of “agreed value” covers the vessel at the value you and your insurer agree to. Although it usually costs more in advance, there is no depreciation in case of the total loss of the ship (some partial losses can be amortized). The “cash delivery” policies, on the other hand, cost less initially, but take depreciation into account and only pay up to the actual value of the cash delivery at the time the ship is declared to be a loss or loss. total or partial. of the property.
Customize: Sailors may need fishing equipment and tournament coverage, as well as cruising extensions if they are towing their boat away from home. You may want to “freeze the blanket” if you live in a temperate climate because, paradoxically, this is where most of this damage occurs. A good insurer will adapt its coverage to your needs to avoid surprises.