Motor Boat Insurance - A Guide to Motorboat Insurance

There are many different kinds of boat insurance, targeted to particular kinds of vessels and uses. One of these is motorboat insurance. This kind of coverage will safeguard you against losses from destruction of your motorboat, burglary, fire, and other hazards. Coverage also include physical damage to the boat, property damage, liability for spilled fuel and its environmental dangers, protection for personal effects, medical coverage, water ski coverage, liability in case other people are injured on your boat, and damage caused by others who don't have their boats insured. Because motorboats are both popular and have the highest accident rates, motorboat insurance tends to be more expensive than coverage for other kinds of boat, such as a sailboat.

If you are experienced, or have a boat that your insurance company considers low risk, you may be eligible to receive a lower premium rate on your motorboat insurance. Your insurance policy for a motorboat may be a lot more complicated than one for another kind of craft. This is because many companies add requirements and limitations to their policies relating to the value of your boat, where and when you may operate it, and the age of a motorboat that they are willing to insure. Be sure to look through these specifics carefully before you sign your insurance policy. That way, you won't inadvertently violate the terms of that policy and find that you weren't covered for damage.

There are many things on your boat that aren't strictly part of the boat, but are still covered by motorboat insurance. These include the batteries and lights, fuel takes, bilge pumps, boat cover, furniture in and on the boat, mooring equipment, the motors or engine, and any appliances such as solar panels or stoves that you may be using on your motorboat. Some of these items will only apply to larger vessels, of course, but it's good to know what you can have covered. There are a few items that most motorboat insurance policies won't cover, like cameras and video equipment, your clothing or jewelry, and personal items like a cell phone. These will have to be replaced out of pocket, although some homeowners policies may include coverage for personal items lost on vacation.

Making sure you read the fine print on your motorboat insurance coverage is the best way to get the proper compensation in the event of an accident. You'll know what to expect, and how best to get the insurance company to comply with its responsibilities. Make sure to look for exclusions in coverage, like a deductible for hurricane damage. The insurance company uses these to avoid or lower payments in certain situations. However, not all policies have these. If you're concerned about compensation in such a situation, make sure that your motorboat policy doesn't have this kind of loophole. Useful extras on your motorboat insurance include passenger medical coverage and towing coverage. These can help you avoid big fees down the road. Insuring your motorboat can be simple, as long as you pay attention.

 

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