| For a new boat owner, boat insurance may seem like | | | | appraisal done for your boat. Boat prices fluctuate |
| an unnecessary investment to make. However, boats | | | | based on demand, the condition of the boat, its age, |
| of all types and sizes can be involved in accidents and | | | | and overall condition. It is recommended that you get |
| the target of theft. It is likely that you will want to | | | | a new appraisal every few years. Taking care of |
| take guests on the water with you, and boating | | | | your boat and doing proper maintenance will help |
| accidents occur at alarming rates. Without proper | | | | keep your boat's value high, and the appraised value |
| coverage in the unlikely event of an accident you | | | | is what you will receive in the event the boat should |
| could be left holding the bill without the proper | | | | sink or be beyond repair after an accident. Should |
| insurance cover to protect you. | | | | you fail to have an independent appraisal done |
| Much like car insurance, the type of boat that you | | | | regularly, your insurer will base the payout amount on |
| own and how you use the boat will affect the boat | | | | the current book value. This amount can often be |
| insurance policy price. Your experience also comes | | | | lower than the value of your boat especially if you |
| into play, as if you have had previous claims your risk | | | | have done upgrades of any sort. |
| factor will be raised. Often taking classes to further | | | | In the unlikely event that you do need to make a |
| your skills will help lower your rate. | | | | claim, you should carefully consider your costs of |
| The basic coverage you can acquire for your boat is | | | | repairs. If the damage is not major, often it is best |
| liability insurance. Liability insurance will protect you | | | | to cover the repairs yourself, as each claim will work |
| should you damage another boat or the dock. Medical | | | | as a strike against you and can negatively impact |
| coverage is a must have, as water sports in general | | | | your next year's premium price. As a rule, if the cost |
| have a high rate of injury. Without medical coverage | | | | of the damage repair is close to your deductible |
| you will be responsible should someone slip or fall on | | | | amount, avoid making a claim. If the accident involved |
| you boat's wet deck. Comprehensive insurance will | | | | any injuries however, you should always report the |
| cover your loss in the event of theft or vandalism, | | | | claim. Often people will not see the result the |
| while collision protects the value of your boat should | | | | accident has on their health until after the time period |
| you be involved in a boating accident that is your | | | | you have available to make a claim. Medical bills can |
| fault. | | | | add up very fast, and you do not want to be left |
| One of the most important things to do prior to | | | | holding the bill because you failed to properly report |
| obtaining boating insurance is to get a professional | | | | to your insurance agent. |