The Differences
When buying boat insurance, you will find that you have many choices. In most cases, automobile and homeowner companies do not offer the best coverage. It is well worth your time to contact the Boat Insurance Agency for a free, no obligation comparison. Don't accept less than the real thing … get a real marine insurance policy from the marine insurance experts.
- Coverage is All Risks. Many more perils will be insured against than the all too common Named Perils policy.
- The policy is written on an "agreed value" basis with no deduction for depreciation. This means that in the event of a loss, your policy may pay for parts and repairs on a replacement cost, or "new for old" basis. If the loss is considered a "total loss", you will receive the face amount, or "agreed value" amount stated on your policy. These two points alone can be a HUGE difference between policies. BEWARE, of ACV or Actual Cash Value policies.
- Flexible navigation limits. Allowing for easy extensions to such popular points as Barkley Sound, S.E. Alaska, coastal waters, and more.
- Towing/emergency assistance coverage included at no extra cost.
- Salvage, or wreck removal and expenses incurred to protect and defend your vessel are covered up to the full amount of insurance on the hull. Most "non-marine" insurers omit or severely limit this important coverage.
- Coverage is provided for losses due to ICE AND FREEZING.
- Dinghy (tender), outboards, and electronics coverage included with lesser deductible.
- Personal Effects coverage for your additional "non-boating" items.
- Marine liability (Protection and Indemnity), medical payments, AND Uninsured Boater Coverage for you and your guests. Much broader coverage than the usual automobile or homeowner company policy offers.
As you can see, there are huge differences between boat and yacht insurance policies. Let the experts at the Boat Insurance Agency help you decide which is best for you.
