If you own or plan on owning a boat, you will need to be sure and buy boat insurance
. You would be surprised by how many boaters do not know they need this kind of coverage for their boats.
Having boat insurance is a requirement in most states. Before buying boat insurance, here are some things to consider. Always contact your insurance agent to determine what is required for your state and what the policies cover.
There are optional coverage that you should also consider. For example, Wreckage Removal is one type of coverage that is very important. And then there is coverage to cover for repairs or mechanical failure including towing charges-- should you ever need to be towed back to shore.
Not all policies cover everyone who drives the boat. Always ask and find out who is covered when operating the boat. Many insurance companies only offers policies that only cover the owner of the boat. Make certain the agent clearly defines who is covered when driving the boat.
When you shop for boat insurance, begin with your current insurance company and then check with other providers to compare rates. Remind yourself that insurance companies are competing with one another and most will work with you to get your business. Let one company know about the better rate and see if they will match it.
While shopping for boat insurance, think about the investment you have made with your boat. Boats are expensive and so is repairing them.