Make Sure They Have Their Own Policy
If someone wants to drive your boat, make sure they have their own insurance policy. Its also vital that they have taken and passed a state-approved, boat safety class. The safety class will not only teach them how to handle a boat in a variety of situations. These classes also show what to do if an accident does occur.
The agents at Premier Group Insurance serve residents throughout the Lakewood, CO area, as well as many of the surrounding communities. They offer advice and recommendations on how to properly care for your boat and keep both you and your family safe while spending time on the water. You can always call if you have questions concerning your boat insurance and how to protect your investment.
How To Know If Raccoons Live In Your Home
Raccoons find a way to get inside a home to protect their offspring. Mother raccoons are one of the most maternal animals you can imagine and they go the extra length to protect their babies. This is why one surefire sign of having a raccoon-infested home is when you hear the cries of baby raccoons. Since raccoons are on the heavier side, you may hear them walk around during the night. Raccoons are awake at night, which is why you need to be more observant of their presence at nighttime.
Another sign that raccoons live in your property is the urine and poop that they leave behind. You may want to research further about what raccoon droppings look like because it is certainly different from the feces of other rodents. In general, their feces are black and round. Oftentimes, it also contains undigested food since raccoons have short intestines that prevent them from fully digesting their food.
Storing Your Boat At A Marina
Your lifetime dream has come true. Youve bought a 26 sailboat. Mooring your boat at a marina was always part of your dream. You love the community and the atmosphere.
Plus, its a safe spot for your boat.Because of the proximity of other boats and the potential for a loss on your boat to spread to other boats or the dock, most marina are now requiring proof of at least $500,0000 liability protection before theyll rent you moorage space.
Check with your marina for more information, and call your team at McClain Insurance for hassle-free boat insurance.
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Is Boat Trailer Insurance Required And Do I Really Need It
No state requires you to have boat trailer insurance, but that doesnt mean that it isnt a wise investment. As with most insurance, whether you need to insure your boat trailer really depends on many factors, including the value of the trailer, how old it is, how often you use it and whether you have the financial resources to replace it.
Evaluating those factors can help you determine whether boat trailer insurance makes sense for you.
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Boat Coverage & Limits
Boat Coverage & Limits
Physical damage coverage provides protection if your boat collides with another vessel or submerged object, such as a log or a rock. It is included in most boat and other marine policies.
Discuss your physical damage coverage needs with your insurance representative. Consider what it would cost to repair or replace your vessel when choosing your deductibles and policy limits. If you finance your vessel, your lender may require specific coverage options and limits, too. Remember, you will be responsible to cover your deductible, as well any related costs above this limit.
Do I Need Personal Property Coverage for My Boat? If So, How Much?
Personal property damage coverage provides protection for items on your boat, including clothing and other personal belongings. It is included in most boat and other marine policies.
Discuss your personal property coverage needs with your insurance representative. Consider the items you and your guests often bring aboard your vessel and how important it is to protect them when choosing your policy deductibles and limits.
What Is Boat Towing and Assistance Coverage, and Do I Need It? If So, How Much?
Towing and assistance coverage generally reimburses the cost to transport your boat to a repair facility in the event it is inoperable due to a covered loss, and can also cover gas delivery and boatside assistance if you are stranded. It is included in most boat and other marine policies.
Do I Need Liability Coverage?
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Our Simplified Application Process
Weve removed the hassles of applying for boat or personal watercraft insurance. Complete the application online and submit it to our underwriting team for a prompt review. Once we receive your application, well get in touch to set up a phone call and discuss the risk in more detail. Well then respond quickly with a no-obligation quote for your approval.
Boat Insurance Coverage Faqs
Small Boat Insurance
What is the best coverage for my boat?
It is best to have what is known as an “All Risk” policy, which will provide coverage for all types of losses except those specifically excluded in the policy. Typical exclusions may include wear and tear, gradual deterioration, marring, denting, scratching, animal damage, manufacturer’s defects, defects in design, and ice and freezing.
How much should I insure my boat for?
You should insure your boat for the amount it would cost you to replace it with like kind and quality. This is called “Agreed Value” or “Stated Value” coverage, and in the event of a total loss, will pay the full insured amount. Beware of policies providing “Actual Cash Value” coverage, which means the value of your boat will be replacement cost less depreciation.
What other coverages can I expect with my policy?
The following are standard coverages with standard deductibles and average limits:
- Medical payments, $5,000
- $1,000 limit Personal effects, $250 deductible
- Uninsured boaters liability, between $300,000 and $500,000
- $500 to $1000 limit Towing and assistance, no deductible
- $1,000 limit Fishing equipment, $250 deductible
Who is allowed to operate my boat?
I live in an area where I can’t use my boat in the winter, but my lender requires it be insured year-round. What can I do?
Large Boat Insurance
What are the differences between boat and yacht insurance?
What should I look for in a yacht policy?
What is a normal deductible?
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Tristate Business Insurance Blog
23 February 2018
Like most of us here at TriState in mid-March, our idle moments are spent day dreaming about being back on the boat with family and friends. We’re not physically out on the water yet, but some of us are already readying our boats and personal water craft. New paint, new oil, purging old fuel and replacing with new, greasing trailer bearings, and other chores that we really don’t classify as work. But here’s something else you should think about working on, reviewing your water craft insurance coverage. This is really important and we’ll tell you why.
There are few activities in your active lifestyle that subject you to real risk and the risk of lawsuit than operating your water craft. To cover catastrophic legal exposure for claims against your automobile policy, you may or may not have an umbrella insurance policy to cover court-ordered claims in excess of your policy limits. Your umbrella policy likely covers the unthinkable accidents that could happen on your property. Real threats that DO happen like a guest falling down your steps and breaking their neck or someone slipping on ice and suffering a life-threatening head injury. This isn’t a some scare tactic we’re using here, the’re the types of things that happen to ordinary people. Things that you can never plan for yet can ruin families financially. That’s why smart people carry umbrella policies. Those same people almost universally praise the affordability and value of umbrella insurance coverage.
Can My Trailer Be Covered By My Auto Or Homeowners Policy
Your boat trailer may have some coverage under your auto policy or homeowners policy. However, that coverage may not be adequate to protect your investment in your trailer under all circumstances.
Some auto policies will cover the trailer, provided the trailer is attached to an insured vehicle. Homeowners insurance can usually cover a trailer provided it is stored at the home.
Since coverage on a home and on a vehicle is different, you may have gaps in coverage for your trailer if you rely on either policy in the event of a loss.
Check the fine print and talk with a local agent to see if your trailer is covered and how much a boat trailer insurance policy will cost.
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Boat Insurance Policy Basics
What Is Boat Insurance? Why Do I Need It?
Boat and yacht insurance sometimes referred to as marine insurance is designed to help protect you and your boating guests from the potentially high cost of accident-related damages or injuries. It is a contract between you and your insurance company in which you pay a premium to the insurance company in exchange for a set of available coverages you select. If you finance or lease your vessel, your lender may require specific insurance coverages and limits.
Is a Boat Covered Under Homeowners Insurance?
Carrying boat or yacht insurance is a smart decision. Contrary to popular belief, your vessel is not automatically covered under your homeowners policy. If you cause an accident, or get into one with an uninsured vessel, you may be held responsible to cover related expenses, such as repairs, property damage, medical bills and more. Without the proper coverage, your financial well-being could be at risk.
Working with an insurance representative to create a marine insurance policy that helps fit your individual needs and budget can help protect you, your loved ones and your assets in the event there is a boating accident.
What Does Boat Insurance Cover?
Boat insurance coverage options depend on the state where your boat is used, your insurance company and the coverage you choose. Standard boat insurance coverage options typically include:
Who Does Boat Insurance Cover? Who Needs to Be on My Policy?How Do I Buy Boat Insurance?Insure
Riots And Vandalism Damage
Few people ever expect their lives to be touched by riots, but when they occur, the damage can be extensive. Riots can interrupt an otherwise peaceful setting. When vandalism or riots occur, homeowners who invest in a policy that provides very comprehensive coverage are glad to have done so. While we may associate the term vandalism with graffiti, it can come in countless forms, including broken windows, damaged landscaping and glued locks. It can be hard to anticipate exactly what damage could be done by vandals, which is all the more reason to invest in homeowners insurance to protect your home from untold hazards.
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Are There Any Restrictions
It is important to be aware of the details of your coverage. With boat coverage, you may have geographical restrictions. This means that you may only be able to use it in a designated area, or you may be restricted to just using your craft in the ocean or only in inland bodies of water. You need to be aware of this because if something happens outside the areas that you are covered for then you will not be able to use your insurance. When you are transporting your boat on land on a trailer your boat is still protected, but now it falls under your auto insurance policy until it is back in the water or storage.
Discounts For Your Boat Insurance
You bought your boat, and now youre shopping for insurance. There are sure a lot of Boat Insurance companies out there! Price is a factor but you also want to make sure you get the right protection for your boat. And what else is there to know?
Well, a great way to start is to call your insurance agent at McClain Insurance. We specialize in all your personal insurance needs, and that includes boat insurance!
We may not win a fishing derby, but we sure know how to catch you all the discounts you deserve on your boat insurance!
There are a variety of ways to lower your boat insurance rates:
- Make a good choice on the type of boat that you are going to buy. Choosing safety over performance will keep your rates lower.
- Also, the value of the boat will make a difference. The higher the boats value, the higher the premium.
- Many companies will offer a discount if you take and complete a boating safety course. This will help you make the right call in a critical situation.
- Most companies also offer new hull discounts and claim free discounts.
If youre looking to buy a boat or if you already own one, stay afloat with boat insurance from your team at McClain Insurance Services.
Well track down every available discount to assure that you receive the best value for your boat insurance investment. Give us a call today, or click here for an instant rate quote.
Ahoy!
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Insuring Your Boat With Home Insurance
Some home insurance companies allow you to add your boat to your home insurance policy. You will still need to notify your insurer and answer some questions about your boat, how youll be using it and where youll be keeping it.
The pros of adding your boat to your home insurance are that its pretty easy to do and easier to keep track of your insurance. For less expensive boats, the coverage can be perfectly adequate.
The cons of adding your boat to your home insurance include:
- Your insurer may not allow you to add your boat .
- The coverage offered may not be adequate for the value of your boat.
- The coverage is usually more limited than a separate boat insurance policy.
- There may be rules on where you can store your boat and where you use it.
- When you make a claim on your boat, youre making a claim on your home insurance.
What Is Boat Trailer Insurance And What Does It Cover
Boat trailer insurance is a specialized type of vehicle insurance policy that applies to trailers specially built to transport a boat safely from a home to a lake, river or ocean.
Some boat trailers can be covered as a special rider attached to a vehicle or homeowners policy, but because these items are so specialized in terms of how theyre used, it is often a good idea to get separate trailer coverage.
Boat trailer insurance generally covers damage to the trailer, whether its stored at home or at a recreation area. Your policy can also cover theft as well as liability coverage in the event that your trailer causes damage to another vehicle, trailer or boat or injures another person.
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We Offer Coverage When Others Wont
Have you experienced the cancellation or non-renewal of a boat or personal watercraft insurance policy due to an excessive claims history or other reasons? Have you had your application for coverage rejected? We specialize in taking on difficult risks that other insurance companies avoid. We provide insurance solutions that no one else will.
XINSURANCE will be there in your time of need. You can contact us to file a claim, and well initiate the investigation and settlement process without delay. You can also count on us for expert legal assistance during a lawsuit. We work with old and new claims and will even take on existing litigation on your behalf.
Renting Directly From Boat Owner
There are some sites where you can reach out directly with a boat owner and charter their boat. You should be extremely cautious in scenarios like this as you could end up with no insurance coverage at all!
Sites like Craigslist can be the wild wild west and isn’t advisable in most cases.
But if you still would prefer going down this route, make sure to ask the boat owner exactly what is coverage and what you as the renter are liable for.
With so many safer options to rent a boat and be protected, this should be a last resort.
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Does Homeowners Insurance Cover Boats
Boating is an exciting pastime pursued by many Americans, but buying a boat is a big purchase that can also expose you to a lot more risks. As with all of your bigger investments, like cars and houses, you are going to want to make sure that you are protected if anything were to happen to them. A common misconception people have about boats is that they are covered under your homeowners insurance policy.
While a boat may be mentioned in your policy, the coverage is very limited and likely will not be nearly enough on its own. Homeowners policies that include boats often only cover very small boats, cover only around $1,000 in damages, and only covers boats in storage, meaning that you are not covered or are underinsured when you are out using your boat on the water. Often the deductible will already be close to $1,000 so using your homeowners policy to cover your boat is fairly pointless. Homeowners policies will come with liability insurance that may apply if needed, however, it has strict limitations on the size of the craft it covers, and again only includes small boats. You will be much better protected if you buy specific boat insurance.
Will I Have Enough Coverage Under My Current Home Insurance
If you do add your boat to your home insurance, youll want to make sure you have enough coverage. The first thing to look at is that the coverage is adequate to replace the boat and its equipment. If not, you may want to purchase a separate boat insurance policy.
Next, you should make sure youre covered for where, when and how you plan to use the boat. Some insurers wont insure you if you take your boat to the ocean, for example.
Finally, youll want to check your liability coverage. You want to be covered if youre involved in a boating accident or if your boat on its trailer rolls into the street and damages someones vehicle.
Your broker can help you evaluate if your home insurance offers enough protection for your boat.
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