The weather is getting nicer, the days are getting longer and the waters getting warmer. Pretty soon it will be time to hit the lakes. Before you take that first pleasure cruise, fishing, or wakeboarding trip of the season, make sure your boat insurance is shipshape.
Insuring a boat is different than insuring a car or home. Boats require specialized coverages. To avoid a sinking feeling about your boat insurance, consider these tips:
What are your specific needs? Some insurance companies provide no-frills boat coverage that is simply added to an existing auto or home insurance policy. While this sounds great in theory, the reality is that your boat may be best covered with a boat insurance policy, not some add on to your car or home insurance policy. A boat insurance policy can cover things not likely covered by a homeowners policy, like the cost to replace lost or damaged fishing gear and costly services, like on water towing and fuel spill cleanup.
Bundle Your Insurance Policies. If you place all of your insurance policies with one company this makes you eligible for a multipolicy discount. On occasion it ends up cheaper having your policies with different insurance carriers but more often than not bundling save you money.
Make sure you know what you are purchasing. Don’t be afraid to ask questions, that’s what we are here for. Be positive you understand all of the coverages on your boat insurance policy and make sure you know what may not be covered. Your Bound Insurance agent should be able to answer and questions you have and explain, in layman’s terms, what the different coverages are