Questions to Ask Before Getting Boat Insurance

Get the right boat insurance by asking these questions.Questions to Ask Before Getting Boat Insurance

With warm weather upon us, it’s time to start thinking about getting your boat ready for use. One of the most important things you can do to prepare is make sure that you have the right insurance protections in place. But how do you get the right coverages for you? Asking these questions can help you find the policies you need.

  • Agreed or actual cash value?

This may be the most important decision to consider as you look at your insurance options. Under agreed value, your insurer will offer compensation up to an agreed upon amount in the event that your boat is declared a total loss. In contrast, under actual cash value, your insurer will take into account depreciation and the effects of wear to help them calculate your boat’s total loss payout.

  • What coverages do I need?

When it comes to getting the comprehensive coverage that you need, you should consider getting liability insurance, medical payments coverage, and uninsured/underinsured coverage. Liability insurance will help you cover the medical and property costs caused by your boat. Medical payments will cover your medical costs and the medical costs of your passengers if you get into an accident, regardless of who is at fault. Finally, uninsured/underinsured insurance will cover medical treatment, lost wages, and other costs if you are hit by an uninsured or underinsured boater.

  • What’s my coastline coverage?

Your boat insurance might include restrictions on open-ocean boating. For instance, they might limit your coverage depending on how far away you travel from the coastline. If an incident occurs beyond your coverage area, your policy might not cover you. This is why you might need to seek additional coverage options to ensure you have all the protection that you need.

These are some of the questions that you should ask to help you get the right boat insurance for you.  Need further assistance in securing the right boat policy?  Then contact the experts at VGW Walker Insurance in Texas.  We are ready to get you the coverage that you need today.