subject: What Is Boat Insurance All About? [print this page] The most exhilarating experience would be sailing on the deep blue sea; it not only erases and takes away all the stresses and other strains from minds, but also helps in providing the inner satisfaction and peace. However, before starting with your marvelous expedition in your luxury boat, think about the most important questions:
Are you holding a boat insurance policy?
If yes then what areas does this insurance cover?
Any boat insurance policy would be issued to the owner based on the dimensions of the boat. According to the insurance companies any sailing medium which lies within 16 feet to 25 feet is considered as a boat. The boats which are smaller than these measurements are named differently on the bases of their types. Similarly, if the size is larger than the higher limit, different types of policies work here. This article talks about the common pros and cons of the boat insurance; lets see how this policy works.
Coverage for the physical damages:
The insurance company you have chosen would compensate your losses dealing with the boat. It includes repairs and replacement of the boat. There are specific conditions in which the policy works like hurricanes, lighting, theft, fire, boating mishap and vandalism.
This policy includes the expenses incurred on the motor, trailer, watercraft itself and power machine installed. However, if you are an owner of a small boat, then many of the items won't be covered in that. For example, if you are carrying your clothes, some jewelry or precious items, they wont be a part of a small boat insurance plan. You will have to get something different for such items coverage. So, make sure you are well aware of the policy pointers before getting one. If you want to avoid this hassle, then you can think about how these can be placed under a different kind of protection.
Individual liability coverage:
This aspect of the boat insurance plan is certainly the most essential one. Almost every company is ready to cover a loss of about three million. In this respect, you can be protected against the loss that results from collision with another boat.
Health coverage plan:
In this option, you can have the chance to check out the medical expenses of the people on your boat. Anyone can get sick or injured anytime so you must be prepared for such an event. However, the number of the individual coverage may be limited so talk to the agent before purchasing the policy.
In case of emergency services like motor breakdown or engine problems, your loss would get compensated easily. So, make sure you are prepared with the boat insurance policy before leaving for the trip. Also, go through the terms and conditions precisely so that you have minimum hassles at the time of claim. After assuring all this, you can start with the beautiful journey in the sea.
by: Casper Timberson
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