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?
Types Of Boat Insurance Coverage
This will depend on the type of policy, but common coverage add-ons include:
- Specialized Coverage: Coverage for something specific on your boat like an expensive prop or navigation equipment.
- Salvage: Coverage that pays to remove your boat due to damage, from substantial to minor.
- Consequential Damage: Covers a loss that was the result wear and tear rather than an accident .
- Towing: Towing your boat across a body of water to safety can cost $400 per hour.
- Cruising Extension: You can get temporary, additional coverage if you plan on leaving the USA .
We Can Equip You To Make The Right Decision
Selecting the right marine insurance for your boat can be intimidating. We walk you through the process and explain the details of each policy to help you narrow down the top choices. The process is already simplified because we only work with the top insurance providers in the industry. Our team takes our time answering your questions to ensure youâre fully informed and confident in your selection.
We have your best interest in mind and can access many markets as an independent insurance broker. Our full-service staff in Peoria, Litchfield Park, Waddell, El Mirage, Glendale, and Surprise, AZ, will compare the coverage options side-by-side without making you feel rushed. With our service, you can obtain competitive quotes, broad coverage, and extra security. We wonât present an insurance policy to you unless we have confidence in the coverage and believe itâs an excellent option for your needs.
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Definition Of An Insurance Binder
Technically, a binder is a legal contract. The binder functions as proof of your coverage if you need to file a claim before your policy is issued. For that reason, it must outline the key terms, such as named insurers, coverages, and deductibles. The insurance representatives contact info must be listed on the document. Also, the binders effective date and expiration date. The binder must also be issued and signed by an authorized insurance representative.
Do You Know What To Look For In A Watercraft Insurance Policy
Hayden & Hayden Agency, Inc. Agency can help you determine the right amount of coverage to meet your specific needs. Just give us a call today at to get started. Here are some items youll need to consider when shopping for boat insurance in Arizona.
Every need is unique contact Hayden & Hayden Agency, Inc. to find out how to get the best boat and watercraft insurance coverage for you.
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Arizona Boating And Alcohol Laws
It is illegal in the state of Arizona for any person to operate or be in actual physical control of a motorized boat that is underway while under the influence of an intoxicating liquor, any drug, or a vapor releasing substance which causes them to be impaired.
- All peace officers of the state, counties and cities.
- The Coast Guard .
Enforcement officers have the authority to stop and board boats to ensure they are in compliance with state laws.
When signaled by law enforcement, boat operators are required to stop their boat and allow officers to come aboard or alongside. The operator may be ordered ashore to correct any unlawful or unsafe condition. Any operator who willfully flees or attempts to elude law enforcement will be guilty of a class 5 felony.
Shopping For Boat Insurance
Start with a little fact-finding. Ask your boating friends which company they use and how their claims have been handled. The way an insurer has handled claims in the past is a good indicator of the quality of service you can expect in the future.
State insurance regulatory agencies are also a good reference and can be found online.
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Boat And Personal Watercraft
With a specialized boat insurance policy from Full Cycle Insurance, you can relax on the water knowing you have the right coverage for your boat or personal watercraft. Just like automobile insurance, we make boat insurance easy and affordable. There are even discounts available for packaging your policies!
Boat Insurance Options
Because were an independent agent, we represent many carriers for a boat insurance policy! Coverage options are plentiful and you can get specialized coverage, such as Roadside Assistance, On-Water Towing, Total Loss Replacement and more.
Ask for a Boat Insurance Quote Today!
With so many boat insurance options, we will provide you with information to help you choose the best coverage for your boat or personal watercraft insurance needs.
Boat insurance covers many kinds of boats from personal watercraft and sailboats to fishing vessels and yachts. So, even if you feel you need a specialized policy, it is just a boat insurance policy that you need. Ask an agent today.
Looking for Motorcycle Insurance? We sell that too!
What you need to know about Boat Insurance:
Full Cycle Insurance will work to ensure youre covered on the water and that your coverage needs are met. Give us a call today at 833-FULLCYC to start a quote. When shopping for boat insurance in Arizona, there are some things you should keep in mind:
What Is An Insurance Binder
An insurance binder is a short document that verifies your insurance coverage before your policy is issued. When you apply for and purchase insurance, the insurer doesnt generate your policy documentation immediately. Theres a processing lag usually 10 to 30 days while the insurer verifies your information and documents your coverage internally. At that time, youre likely to need proof of insurance, and thats where the binder comes in. Insurers issue these binders immediately and stand in as evidence of coverage until you receive your full policy documentation.
All types of insurance issue binders car, motorcycle, home, boat insurance, business insurance, and even livestock insurance.
Arizona Boat And Watercraft Insurance
Make your boating experience worry-free and more relaxing with help from Premier Choice Insurance. You will enjoy the experience or your stay in the boat more, knowing that you, your family and friends are well-protected. Our company will find you comprehensive protection for your boat and watercraft, as well as boating equipments.
You might think that boat insurance will hurt your pocket. Well, not if you think it this way. On the average, it will only cost you a dollar a day to have your boat insured. Whats a dollar a day compared to the enjoyment and worry-free mind you get in return? Its all that it takes to ensure the safety of your person, your passengers and your property itself. It helps protects your investment.
There are several things that you need to consider when shopping for the right Arizona boat insurance policy for you.Here are some of the important ones:
Operating Watercraft In Arizona
Arizona does not currently mandate any boater education requirements to operate a motorized boat. However, boating education courses will teach you the necessary skills to be a safer boater. After all, you wouldnt get behind the wheel of a car without first having educated instruction, so consider the same for operating your watercraft. You may even be able to save some money on your boat or personal watercraft insurance after taking a boater education course.
Depending on where you take courses, you can learn skills such as trailering your vessel, navigational rules, anchoring, safety, and legal requirements. Many boating education courses offer online classes as well. For a list of online courses, visit here.
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Boat And Watercraft Insurance Coverage Options
Liability Boat Insurance
Liability boat insurance is extremely important and will help pay for the medical bills if someone is injured due to an accident involving you and your boat. This type of policy will cover people who are injured in another boat involved in a crash that is determined to be your fault as well as your own passengers in your boat.
Comprehensive coverage is a type of coverage that will protect your investment in your boat or other watercraft if it is damaged or destroyed by an act of vandalism, a fire, or even a natural disaster, such as a hurricane or tornado. It will also help to pay for the replacement of your boat or watercraft if it is stolen. This type of policy is also the one that a lender may very well require you to have since it best protects the investment they made in your boat or watercraft.
If you have a collision with another boat or an object, such as you back into a dock, this type of coverage will assist in paying for repairs to your boat or to a boat belonging to another boat owner involved in a collision with you and your boat. It will also help pay for any damage to the dock or any other object you collide with while driving your boat or operating your watercraft.
To obtain a quote and get your boat insurance policy started, contact the insurance agents at INW Insurance Solutions in Mesa, AZ today.
Who Else May Require You To Carry Boat Insurance
If you intend to finance the purchase of a boat, your bank will require you to provide proof of insurance for the watercraft. Typically, the policy will need to cover the full value of the boat, and your bank may set minimum requirements for specific types of coverage. In addition, you will need to list the bank as a lienholder on the policy so that it will be included as a co-payee on any compensation in the event of a loss payment.
Most ports and marinas will require you to carry boat insurance in order to use their facilities.
For example, if you want to moor your boat at Port of Bellingham in Washington, you must carry a policy with at least $300,000 in general, legal and pollution liability with a policy term of no less than one year. As another example, the Hawaii Division of Boats and Ocean Recreation requires all vessels moored at its facilities to carry at least $500,000 in liability insurance.
Some marinas, such as the Hawaii Division of Boats and Ocean Recreation, may even require that the marina itself be listed as an “additional insured” or “additional interest” on the policy. You’ll normally need to provide proof of insurance before you can sign a contract for a slip or mooring.
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Boating Laws & License Requirements By State
Passing a boating safety course will give you a discount on boat insurance and will increase your water safety skills. Boat safety courses are an excellent investment of time and money, regardless of your state’s boating law. Each state has unique boating education requirements, and the boating rules, laws and regulations vary from state to state for obtaining a boat license or safety certification. Be sure to review the full legal requirements for your particular state.
|Arizona Game and Fish Department|
|No mandatory boating safety course educational requirements.|
How Many Attempts Are Required For Azure Certification
Technically only one attempt per single purchase of exam can be made. In case you didn’t pass the AZ-900 exam, you need re-purchase it and pay for the full price. You may want to check our Special offers which is the Exam Replay. It includes, one voucher for an initial exam and one retake of the same exam.
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Lets Talk About Life Jackets
Life jackets should turn an unconscious person face-up and keep their body temperature as stable as possible. Every boat by law should have one Coast Guard-approved life jacket per boat occupant. In Arizona, all children 12 years of age and under must wear a life jacket at all times.
The life jacket should accommodate your height and weight. If you have any questions about what life jacket is the safest for you, consult the Coast Guards official resources on life jacket selection and fitting.
When Is Proof Of Insurance Required
Even though most states dont legally require you to carry boat insurance, other situations may require proof of insurance for your watercraft.
Docking your boat at a marina
If you plan on docking your boat at a marina, many will require you to show proof of insurance before signing the contract. That being so, make sure to read the fine print and understand the requirements before proceeding with any contractual agreement.
For example, marinas such as the Charleston City Marina in South Carolina and the Kemah Boardwalk Marina in Kemah, Texas require docked boats to have liability insurance of at least $300,000.
Marinas like Brickyard Cove in Pt. Richmond, CA require an endorsement on your policy as additional interest or additional insured to avoid claims of negligence.
Harbors will carry their own liability insurance so they can protect claims where they may be at fault.
Financing your boat purchase
If you have financed your boat, your bank may require you to carry boat insurance. If the bank is using the boat as collateral for the loan, they will require you to list them as payee for loss or damage of the boat.
Unlike home and auto coverage, some policies dont require you to carry year-round coverage. But if you have financed your boat, your lender will most likely ask you to carry coverage even when the boat is stored. Your vessel may still be exposed to risks, such as theft and storm damage, while in storage.
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Boat Insurance: An In
Your prized boat probably didnt come cheap. Whether you own a bass fishing boat or a yacht, its important to find the right boat insurance that will come to the rescue if you have damage or theft. Heres how to understand boat insurance policies.
In this article
Do You Have To Have A Life Jacket On A Kayak In Arizona
Arizona law requires the following with respect to PFDs . All vessels, including paddleboards and kayaks, must have at least one USCGapproved wearable life jacket for each person on board. All children 12 years of age and younger must wear a USCGapproved life jacket while underway on any vessel.
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What Types Of Boats Does Insurance Cover
Boats are even more varied in their styles and functions than automobiles. You can own a large yacht meant for pleasure cruising or a tiny fishing boat with a small hand-cranked motor for wading down small streams. The good news is, boat insurance in Arizona covers all of these types of watercraft.
Chances are, if you have a motorized craft that floats, boat insurance can provide some level of protection for it. This includes jet boats, ski boats, pontoon boats, cuddy cabins, and more. Boat insurance can even cover nonmotorized watercraft like sailboats, paddleboats, and more.
Boat Rental Liability Insurance
This policy covers losses that may arise from your business inflicting damage to third parties. It also includes litigation fees if you and your business end up before a jury or judge. This covers:
- Third-Party Bodily Injury: Your rental crafts or vessels may cause bodily harm to third parties that may require monetary compensation or medical bills. It also covers the losses from accidental oil spills .
- Damage to Property: Your boat may cause damage to other boats, equipment, and even the dock that may require compensation. This insurance covers all costs that may arise from such damage.
- Wreckage Removal: If your vessel sinks, you may be required by law to pay for the removal. This policy covers the cost of removal of sunken debris and vessels from the sea.
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Boat/watercraft Insurance In Arizona
When clients new to the boating world come into our Bailey Insurance LTD office in Phoenix, AZ for advice on the type of insurance they should get, we first commend them for being responsible boat owners since Arizona does not require them to insure their boat or watercraft. Having a policy for your watercraft is a significant first step in taking responsibility for your actions on the waterways.
Insurance Binder Request Reasons By Line Of Business
Type of binder
Car loan lender
The car is used as collateral for your car loan. As such, the lender has an interest in protecting that cars value, and your ability to repay the loan. Liability, collision, and comprehensive coverages support those interests.
The home is used as collateral for your mortgage. As with a car loan, your mortgage lender requires the insurance as a way to protect the collaterals value, and your ability to repay the loan.
If there are defects on the propertys title, they could impact the lenders ability to foreclose if you dont make your mortgage payments. Title insurance protects you and the lender against those defects.
Lender or renter
If you buy an RV, the insurance binder works just as a car binder would protecting the lender against damage to the collateral. If you rent an RV, the rental company will require a binder as proof of coverage, before you drive away.
When you rent commercial property, your landlord will require you to carry insurance. Youd normally need coverage on your portion of the building, along with coverage on your inventory and assets in the building. The landlord will require you to present the binder as proof of coverage before you move in.
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