Best Boat Insurance The Hull Truth: As you take your boat out onto the water, you’re doing something you love and are passionate about—but this also means that you have to have the right boat insurance in place. The last thing you want to do is be spending your time enjoying your boat when there could be potential problems with it, or worse yet, dealing with an accident if there isn’t proper coverage in place.
This article will help you get the best boat insurance the hull truth can offer so that you don’t have to worry about anything while on the water.
Understanding Boat Insurance
Determining how much insurance you need is a tricky task. If you were to only insure your boat for its value, then you might be under-insured in case of an accident or damage. On the other hand, if you were to insure it for more than its value, then you would be overpaying and not getting any benefits from that money.
It is important to find a balance between these two concepts in order to get the best coverage possible. There are many factors that will help determine what amount of coverage is right for you such as age, previous boat ownership experience, type of boat being insured (powerboat vs sailboat), location (coastal vs inland), budget, etc. For help with finding the right amount of coverage contact us today!
Different Types of Boat Insurance
The hull truth is that not all boat insurance companies are created equally. Some offer more coverage than others, so it’s important to get a quote from at least three different providers before you make your decision.
All of the different types of insurance have their own benefits and limitations. And with so many options out there, finding the best boat insurance may seem like a daunting task. But we’re here to help! We’ll take the time to explain each type of boat insurance and what they cover in detail below. Once you understand the types of policies available to you, picking the right one will be a cinch!
Things to Consider When Buying Boat Insurance
When you are looking for boat insurance, there are several things that you need to consider. You will want to make sure that the policy is tailored to your needs and wants. You also need to know what type of coverage you are seeking and how much coverage is enough. Some good questions to ask when looking for boat insurance include: What kind of coverage do I need?
What’s my budget? What’s my deductible? Do I have any special considerations?
Shopping for Your New Policy
After years of enjoying your boat and making memories with family and friends, it’s time to think about insurance. When you’re shopping for your new policy, make sure to find an insurer that understands your needs. Talk with a licensed agent or broker in person or online about what coverage you need for your specific type of boat and where you’ll be using it most. Get detailed quotes from several companies so that you can compare prices, coverage options, deductibles and other variables.
What Types of Coverage Are Offered?
The hull truth is that all boat insurance covers three main types of coverage: liability, collision and uninsured/underinsured motorist. Liability covers injuries or property damage that your boat might cause to other boats, people or property. Collision will cover damages to your boat in the event of an accident with another boat. Uninsured/underinsured motorist protection will help you if you are involved in an accident with a driver without adequate insurance.
What Is Covered Under Coverage?
Choosing the best boat insurance policy can be overwhelming. There are a lot of different types of policies and coverage to consider. For example, liability insurance covers you in case you damage someone else’s property or injure them while on your boat. Bodily injury and property damage insurance covers medical expenses and other losses suffered by others as a result of your negligence on the water.
Protection against uninsured boaters means that if an uninsured boater damages your boat, they will be required to pay for repairs up to the limits of their coverage. Some policies also cover repairs if your boat is stolen from a marina. If you have enough money saved up for this expense, collision and comprehensive coverages offer protection against accidental damage due to things like weather conditions or even theft when it is not covered under the protection against uninsured boaters.
How Much Is Coverage?
To answer this question, you should consider how much coverage you need, what type of insurance is best for your situation and budget. At the end of the day, it’s going to be up to you to decide if you’re getting enough coverage for your needs.
You may find that your current policy doesn’t offer the protection you want or require a high deductible. Either way, a thorough understanding of all of your options will ensure that you get the best boat insurance for you. If you would like help finding the right boat insurance, contact us today!
How Do I File a Claim?
If you’ve got a claim, you’re probably wondering what to do first. Here’s some information on how to file a claim:
1) Report your loss to your insurance company as soon as possible. Your policy should list specific phone numbers and contact information for reporting claims. You may also be able to submit a claim online. Regardless of which method you choose, make sure that you provide as much detail about your claim as possible.
In addition to your personal details, be sure to include where the incident occurred, when it happened, who was involved and what was damaged or stolen. Keep a copy of any documentation related to your claim too. As an example, if you are filing an auto theft claim with GEICO®, send us copies of the police report and any other evidence like photos or videos related to the theft.
2) After you report your loss, wait for confirmation from your insurer before making any final decisions about repairs or replacements.
Our Top Picks for Boat Insurance
It is really hard to find good boat insurance and it can take weeks or months to switch carriers. To make things easier, we have compiled a list of our top five picks for boat insurance companies. We hope this helps you find what you are looking for!
1) BoatUS – affordable coverage with many options
2) Progressive – no deductibles
3) West Marine – great customer service
4) Seaworthy Insurance – excellent benefits at an affordable price 5) Allianz (optional deductible $500 or $1000) These are all good choices and each has their pros and cons but ultimately it is up to you on which company to choose.
5) Allianz (optional deductible $500 or $1000) These are all good choices and each has their pros and cons but ultimately it is up to you on which company to choose.
Best for Policy Discounts: Progressive
Progressive offers a number of discounts that could save you money on your boat insurance. For example, if you have an alarm system on your car, they might give you a 10% discount. You also get up to 10% off if you are with AAA or AARP.
If you’re in college and under 25 years old, you can receive up to 15% off of your policy premium. In addition, if there is more than one person living in the household under 25 years old, there is a $15 per month per child discount for those individuals as well. Lastly, if you install their DriveSafe app on your phone then you will receive 20% off of your premiums for six months.
Best Insurance Packages: Foremost
Foremost offers a variety of boat insurance plans to meet your needs and budget. Below are their top five boat insurance packages to help you get started. Foremost is an insurer for boats, yachts, cars, RVs and motorcycles.
1) Inland Marine Package – This package provides coverage for damage or theft of your vessel as well as loss of use if your vessel cannot be used due to damage or theft.
2) Platinum Protection Package – Protects against physical injury or property damage caused by your boat.
3) Third Party Liability Package – Protects against liability claims that may arise from any injury, death or property damages arising out of the ownership and operation of your vessel.
4) Full Coverage Package- Covers collision, fire, sinking and grounding.
5) Deluxe Coverage Package- Covers collision and fire on vessels up to $1 million in value.
Best for Covering Boat Rentals: State Farm
State Farm is a company that offers boat insurance, both in and out of state. This means that if you live in Ohio but plan to take your boat on vacation to Florida, you can buy coverage from State Farm for when it’s not on your property.
This also means that if you’re renting a boat for a fishing trip in Florida, you can purchase a policy from State Farm so that you’re covered even if your rental doesn’t provide any insurance. Policies are flexible, with payment options including monthly or annual payments and deductibles up to $10,000. There are different coverages available depending on the vessel size: 10′ – 24′, 25′ – 34′, 35′ – 44′.
Best Insurance for Businesses: Markel
cis one of the largest and most respected insurance companies in America. They offer insurance for your boat hull, marine cargo, personal effects, personal liability, automobile coverage and more. They provide customers with a full range of protection and are available 24 hours a day to answer questions or process claims.
Markel offers both property and casualty insurance products and they have an A+ rating by AM Best. All types of boats can be insured including sailboats, motorboats, yachts, houseboats and other specialty vessels such as mega-yachts.
Markel also has excellent customer service representatives ready to assist you when you call (800-522-6800)
Markel’s goal is to become America’s number one provider of boat hull insurance.
Best Insurance Agency: National Boat Owners Assocation
Have you ever heard of the National Boat Owners Association? If not, it is an insurance company that specializes in boat insurance. They offer a variety of different coverage packages to fit your needs and they also have 24/7 customer service representatives.
n addition to being able to insure boats for recreational use, you can also insure boats for business use with them as well. You should never be without a high quality and reliable boat insurance policy so go ahead and contact the National Boat Owners Association today.
Boat Insurance Guide
If you are a boat owner, protecting your investment with proper insurance is crucial. However, it can be difficult to know which type of coverage is best for you. Here are some things to consider when shopping for boat insurance:
1) What kind of boat do you have?
2) Where do you live?
3) How often do you use your boat?
4) Do you plan on taking out any loans on your boat?
5) Does your boat require any modifications or customizations?
6) Are you going to store the boat in a marina or at home?
7) Does the marina require insurance and how much does it cost?