INSURING THE BOAT ITSELF
Agreed value, replacement cost, and all-risk coverage are some of the options that will determine how your insurance policy protects your boat against losses such as against and the terms of that coverage fire, theft, striking a submerged object, and adverse weather. It’s important to have the right amount of insurance on the vessel itself.
With all-risk coverage your boat, trailer, and other covered property are insured for any physical damage that may occur unless it is specifically excluded by your policy. Replacement cost coverage will afford you a replaced boat if it experiences a covered total loss within the first 36 months after purchase. With agreed value coverage from SkiSafe, if your boat is a covered total loss, we’ll pay the agreed value stated in your policy. This means that your boat will not be subject to depreciation . Whatever amount you valued the boat at is the amount we pay come a covered total loss.
HOW MUCH PERSONAL PROPERTY COVERAGE DO I NEED?
Personal property and equipment coverage will protect your stuff. Whether it’s fishing rods, navigation aids, or water skis, all valuable belongings should be covered against damage or theft. Take a full boat inventory, accounting for all possessions associated with your boat that are valuable enough to insure. Once your list is complete, add up the total value and that’s the amount of personal property coverage you need.
HOW MUCH LIABILITY COVERAGE DO I NEED?
Liability coverage can protect you against personal financial responsibility for a third party’s injuries or property damage. In terms of the amount of liability needed, more is always better. More liability coverage will increase your boat insurance costs, but will keep you better protected in the long-run.
FIND OUT HOW MUCH BOAT INSURANCE YOU SHOULD HAVE
Get a boat insurance quote online. We’ll customize your coverage to meet what is right for you.
Call us. Speak to one of our experienced boat insurance specialists who can help you understand what coverage is right for you.
Live chat. Our underwriters are ready to chat with you via our online live chat.
Through an agent. If you have a trusted boat insurance agent you’re working with, you can still get a policy with SkiSafe!