Buying a Boat
A boat is likely one of the more expensive investments in your life, right after your home and/or car(s). So, although boat insurance isn’t mandatory, it’s important to get your ducks in a row before you launch.
Call your mates at WHINS Insurance Agency or drop us a line before you get into choppy waters, and you’ll have happy sailing (and peace of mind, too). Here are a couple of things to consider as you buy your new or used vessel:
Don’t rely on your homeowner’s insurance to keep your boat afloat
Some boat owners may assume that their boat is covered under their homeowner's insurance policy. But in fact, there is only limited coverage ($1,000-$1,500 depending on the insurance company) for damage to a boat on your homeowner's policy. And, generally, the loss must occur at your home.
Damage to your boat that occurs while you are launching the boat or when you are out on the water would not be covered by your homeowner’s policy. And, more importantly, liability protection in the event someone is hurt or some property is damaged by your negligent operation of your boat is not covered by your homeowner’s policy (with exceptions for small boats that have an outboard motor 25 horsepower or less.)
The solution is a Boat Insurance Policy
Boat insurance not only covers damage to your boat in and out of the water, but it also provides liability protection in case you are responsible for injury to swimmers, water skiers or other boaters or damage to another boat, a dock or the environment (due to fuel spillage).
In addition, boat insurance provides no-fault medical payment coverage for accidental injuries to the passengers on your boat.
Call WHINS Insurance Agency for a hassle-free boat insurance quote (818) 233-0825. It’ll be fast and easy, and it’ll give you the peace of mind knowing that you and your boat are adequately covered.
Coverage for your boat while in transit
While in transit, the liability protection on the auto insurance policy of the towing vehicle will extend to cover damage or injury to others that is done by your towed boat and/or trailer, if you are negligent.
This is a good reason to check your auto liability limits to make sure that they are adequate -- damage to a large semi-trailer can be hundreds of thousands of dollars!
In this example, the damage to your boat and trailer would be covered by your Boat Insurance policy, if you had one.
That’s why it makes sense to call your insurance agents (us!) before you buy a boat -- ideally when you are still just thinking about it. Not only can we review your auto policy and adjust your liability coverage to the new exposure of towing a trailer but we can also comparison shop your potential rates with all of our companies so that you will have a preliminary idea, before you buy, of the cost and breadth of your boat insurance coverage.
When the day comes that you find and buy your boat, just call us to confirm the boat specs and we can complete an application over the phone so that you can start enjoying your new boat right away, while safely towing it home.
Easy boat insurance and peace of mind with WHINS Insurance Agency. That’s what we’re here for.
Coverage for the people on your boat
Good News! A boat insurance policy will provide liability and medical payment coverage for the people that are aboard your boat, or that you are towing on water-skis, as long as you aren’t participating in a competition.
So, as long as you thought ahead and talked with your agent here at WHINS Insurance Agency, you'll have the peace of mind to know that you're adequately covered.
Storing your boat at a marina
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 marinas are now requiring proof of at least $500,0000 liability protection before they’ll rent you mooring space.
Check with your marina for more information, and call your team at WHINS Insurance Agency for the hassle-free boat insurance you need in order to safely moor your boat there.
Discounts for your boat insurance
Well, a great way to start is to call your insurance agent at WHINS Insurance Agency. We specialize in all your personal insurance needs, and that includes boat insurance!
There are a variety of ways to lower your boat insurance rates:
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Make a good choice on the type of boat that you are going to buy. Choosing safety over performance will keep your rates lower.
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Also, the value of the boat will make a difference. The higher the boat’s value, the higher the premium.
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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.
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Most companies also offer “new hull” discounts and “claim-free” discounts.
If you’re looking to buy a boat or if you already own one, stay afloat with boat insurance from your team at WHINS Insurance Agency. We’ll track down every available discount to assure that you receive the best value for your boat insurance investment.
Give us a call today (818) 233-0825, or visit our Insurance Quotes page through the menu above to request a quote online.