Protect your boat understanding which policy is best for you!

Don’t let an accident or disaster sink you!
Educate yourself and understand how to insure your prized vessel.

What determines the price of my boat insurance?

Type and value! Also;  the waters in which you use it play a big factor into what type of insurance you need, and it's cost!

As with any insurance policy, please make sure you understand exactly what perils are covered, and which ones are not and what your policy limits are.

Small craft may be covered under your standard homeowners policy or renters insurance policy. Most carriers extend limited coverage for property damage for small boats such as canoes, small sailboats or small powerboats with less than 25 mile per hour horsepower. This coverage generally includes the boat, motor and trailer combined. Liability coverage is typically not included, but it can be added as an endorsement to a homeowners policy.

Larger and faster boats such as yachts require a separate insurance policy, same as personal watercraft such as jet skies.

Generally boat insurance policies cover physical damage to the boat itself. They also cover property damage, theft and medical payments, each with different deductibles. Your carrier/insurance company may offer additional, optional coverage for trailers and boat accessories.

Boat insurance policies generally provide broader liability protection than a homeowners policy.

Depending on your assets that are at risk, you may also consider purchasing an umbrella liability policy which will provide additional protection for your boat, home and vehicle/s.

Boat insurance is available in two types:

• Actual Cash Value: These policies pay for replacement costs less depreciation at the time of the loss. In the event of a total loss, used boat pricing guides and other resources are used to determine the vessel’s approximate market value. Partial losses are settled by taking the total cost of the repair less a percentage for depreciation.

• Agreed Amount Value: These policies are based on a valuation of your vessel that you and your insurer have agreed upon; in event of a total loss you will be paid the "agreed amount." Agreed Amount Value policies will also replace old items with new ones in the event of a partial loss, without any deduction for depreciation.

We can offer you the most suitable Boat Insurance Policy based on your personalized needs.  Contact us for a precise quote for your valuable vessel!