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Boat Insurance Auctions Article
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Why You Need Boat Insurance Coverage
from:You need boat insurance coverage for several reasons. Accidents can occur at any time when you own a boat. Having insurance allows you to pay for damages to the boat or to personal property that was on the boat. If you are involved in a collision, you may be responsible for paying for damages to another boat. Insurance can help you cover these costs as well. Medical coverage will protect you, and any passengers you have aboard with you. Boat insurance coverage involves paying a premium, but in case there is an accident, you will be covered.
Another reason you need boat insurance coverage is that many marinas insist you have insurance before using their docks. Because boats are oftentimes very close to one another, the potential for damage is greater. Marinas will not take responsibility for damages that occur while the boat is docked or when you are leaving or entering the marina. Boat insurance coverage is needed to protect everyone. You will have to show proof of insurance when you rent a docking slip. Some marinas sell this type of insurance, but you should read the policy carefully to see what it covers.
The third reason you need to have boat insurance coverage is because of natural disasters including hurricanes, tropical storms, earthquakes, and fire. If you live in a region where these natural disasters occur often, you may be required to buy boat insurance coverage specifically for natural disasters. If this type of insurance is not required, but you want to protect your boat, buying a smaller amount of this coverage is recommended. Boat insurance may cover the cost of a new boat in the event of a natural disaster.
The last reason you need boat insurance is in the case of theft or excessive water damage to your boat. Boats are stolen from marinas and private property all the time. Having boat insurance coverage will allow you to replace the boat or make repairs to the boat if it is found. Excessive water damage includes damage to the external parts of the boat that caused it to sink or take on water. If this happens, you will have to replace internal parts including flooring, upholstery, and mechanical parts as well. These parts can be expensive when you don’t have boat insurance.
As you can see, there are many reasons to purchase boat insurance coverage. There are many policies to choose from and you should choose a policy that covers what you need it to. Protecting yourself from costly repairs allows you to enjoy the time spent on your boat.
Boat Insurance Auctions News
Plainfield hopes painting draws big bucks - New Brunswick Home News Tribune
Plainfield hopes painting draws big bucks New Brunswick Home News Tribune, NJ - An agreement with Sotheby's will also result in the elimination of insurance costs for the library's Homer watercolor, Da Rold added. The auction house has ... |
“Big Daddy” to be honored in South Logan - News-Democrat & Leader
“Big Daddy” to be honored in South Logan News-Democrat & Leader, KY - Following the awards, there will be a short fund raiser auction to help defray cost on the town square park. The event begins at 7 pm and is at the First ... |
The world's flashiest art fair 'make or break time' for galleries - Globe and Mail
The world's flashiest art fair 'make or break time' for galleries Globe and Mail, Canada - At November's New York art auctions, prices plunged as much as 50 per cent. Visiting dealers are counting on diehards such as Rachofsky to keep the ... |
Coast Guard suspends search for missing captain - South Coast Today
Coast Guard suspends search for missing captain South Coast Today, MA - Richard Canastra, co-owner of Whaling City Seafood Display Auction, said both the Costa & Corvo and the Mary K were fishing for skate and flounder. ... |
November 8, Ted Mundt Auction - AG Week
November 8, Ted Mundt Auction AG Week, ND - Start, roller trailer, Eagle depth finder, bow mount trolling motor; Alum-Craft 14' boat w/ 5.5 hp. Johnson motor; 2003 Polaris 600 Sportsman AT, ... |