There is one important area that is often overlooked initially when one decides to purchase a boat. Yes, it is insurance. Insurance is usually the last thing on one’s mind when they decide to purchase a boat. And, since it is often an afterthought, it usually is the area that one quickly tries to take care of so they can get back to the fun part of owning a new boat. But, if one wants that fun to stay fun, they will want to make sure they take a little extra time to get a good boat insurance policy. Getting a good boat insurance policy can keep one protected adequately and obtaining adequate protection and knowing one is covered well makes boating a lot more fun in the long run.
Starting the boating insurance process does not have to be difficult and if one knows what to expect it can make the process quicker and easier. The process of obtaining boat insurance, like any insurance, first starts with filling out the boat insurance application.
Knowing what to expect on the boat insurance application can make the process much quicker and smoother. Here are some of the most common items that one may encounter when filling out their boat insurance application:
Basic Customer Information: This would be the basic information one would expect on most insurance applications. These items include the customer’s name, address, phone number and social security number. A customer may also be asked about their car driver's license and their car driving record such as their accident history and explanation of the accidents.
Boat Information: The insurance company will want to know about the boat that one wants to insure. The information to be requested on the boat insurance application may include: type of boat (pleasure, fishing, sail) along with the year, make, model and value of the boat. Other specific information may be requested such as the length, number of engines, horsepower, type of engine, what the hull is made of along with any modifications that the boat has had. The boat insurance company will also probably request where the boat will be stored and names of everyone that will be operating the boat.
Boat Insurance Coverage Information: This is a section that the boat insurance applicant can express what types of coverages and amounts they are interested in. A new boat owner should research or discuss with their insurance agent any items in this area that they are unsure of to make sure they have their boat adequately covered for their particular needs. Coverage questions may include if one wants actual cash value, agreed value or total replacement coverage if there is a complete loss. Also, a new boat owner will need to choose what deductibles they want and how much bodily injury and property damage coverage they need. Other coverage choices may include uninsured boaters coverage, medical payments and coverage for fishing equipment and personal items.
Getting the boat insurance application filled out completely and knowing what coverages one wants and needs can keep boating fun and worry free. One should always discuss and regularly review any questions about their boat insurance application and policy with their insurance agent to make sure their coverage stays adequate for their needs.
