Boat Insurance
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.
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.