Why Do I Need Boat Insurance? in 2022
What is Boat Insurance and Why Do You Need It?
Why Do I Need Boat Insurance? In 2022 – Are you wondering if you really need boat insurance or not or if there are differences in policies you should know about?. We are going to go over the reasons to have a good boat insurance policy and answer some of the most frequently asked questions about boat insurance. By the end of this post, you will know why having boat insurance is a good idea, the approximate costs and the types of coverage are best for your needs. Stick around till the end to hear the 4 questions to ask your insurance broker/provider. https://blog.lenscove.com/blog1.
2. Reasons to have boat insurance. 1:50
3. Should I get a rider on my home or cottage policy? 2:19
4. Should I get a stand-alone boat insurance policy? 3:04
5. How much does boat insurance cost? 3:23
Why Do I Need Boat Insurance? In 2022
Why Do I Need Boat Insurance? In 2022 – There are a lot of things we buy for boating that just add to the fun gasps sunglasses wakeboards and tubes and then there’s insurance it only has value when something, not fun happens one of these things is not like the other,
Hi, I’m Shaun from lens Cove lessons and boating have you ever wondered if you need boat insurance and what the differences in the policies are we are gonna go over the reasons to have a good boat insurance policy and talk about the frequently asked questions that most people have on getting it by the end of this post you should understand why having boat insurance is a smart idea and have a good idea of what it’s going to cost you stick around to the end of the Post for four questions you should ask your insurance broker in this post.
Why Do I Need Boat Insurance? – We’re gonna cover is boat insurance mandatory some reasons you may want boat insurance a rider on your home or cottage a separate boat insurance policy. Boat insurance costs as a boat dealer we are not obliged or legally bound to ask you if you have insurance on your boat and for licensing you’re not required to provide proof of insurance, there may be some banks that require it if you’re, getting a boat loan but even if you get pulled over by the police in the water.
There is no legal requirement to have boat insurance just like in your car accidents happen there could be striking something on the bottom of the lake or even floating in the lake there could be the liability issues of hurting a friend, or a family member or someone you don’t know in the lake there is a lot of things. That is out of your control and having insurance on your boat covers all of them including theft breakage so it is a really good idea about 20 years ago.
The most common boat insurance policy was actually a rider on your home or cottage and that essentially was that if your existing policy got added a rider to cover the boat much like you might get a rider to cover a piece of jewelry or an expensive piece of equipment in your home. The rider covered your boat for when you were on the water. Now those policies are not as in-depth and the other problem is that they jeopardize your home insurance if you were to make a claim because you’re only allowed to make so many claims within a certain amount of time so the rider on the home or cottage.
has some risks now you can get a very good and comprehensive standalone boat policy and it only covers you for your boat and while you use your boat a standalone boat policy will have more comprehensive coverage for things that happen on the water boat insurance is very reasonable and to give you an example on a $15,000 boat that you have some discounts on you might pay as little as $250 for a year on a $250,000 boat with no discounting you might pay $1,200 a year.
So you can see you can get a lot of coverage for even fairly expensive boats for reasonable price insurance really isn’t a fun topic for anything whether you’re talking about your boat your home your car or life but you do want to carefully consider if you want a policy and we do recommend absolutely that you have a separate standalone policy on your boat alone click here or in the description below.
for another video on frequently asked questions about both I and here is that list of four questions, you should ask your insurance broker that I promised you does this policy cover towing on the water or highway when you need repair does this policy cover animal damage whether in the water onshore think about raccoons mice and muskrats is my boat covered with this policy no matter where it’s stored in the summer or winter and always ask are there any discounts that I might qualify for thank you for joining us on lens code lessons of boating for today’s POST remember to like this POST.