If you own a boat in Florence, AL and surrounding communities, McBride Benefit Solutions can provide you with insurance coverage. There are a few important things that boat owners need to know when it comes to insurance coverage for their watercraft.
The following are four important things to know about boat insurance:
Boat insurance policies generally place limits on how much personal property coverage they offer.
Policyholders should pay attention to how valuable the items they keep in their boats are. While boat insurance policies do typically come with some personal property coverage that reimburses policyholders for damaged property within their boat, this coverage is limited.
Boat owners with especially valuable electronics or other expensive items in their boats should definitely look into increasing their personal property coverage policy maximums.
Boat insurance may be required by your marina.
Many boat owners keep their boats stored at a marina. If you use a marina to moor your boat, you need to research the policy of your marina. If your marina requires boat insurance coverage, you’ll have to purchase a policy to make sure you’re following the rules.
Boat insurance coverage is typically either actual cash value coverage or agreed value coverage.
The two main types of coverage are actual cash value coverage and agreed value coverage. Actual cash value coverage will cover you for the market value of your boat at the time that it is destroyed. Agreed value coverage will cover you for a certain amount regardless of how much your boat is worth at the moment.
Boat owners should be aware of added coverage options.
Policyholders should research added coverage options. You might be interested in ice and freeze damage, oil spill cleanup, depreciation waiver, and other types of coverage that you can add to your policy.
Reach Out To Us Today
Get a quote today on a boat insurance policy that will protect you financially when you’re enjoying your watercraft. Boat owners in Florence, AL can rely on us at McBride Benefit Solutions to get the coverage that they’re looking for.