Benefits of a Specialized Boat or Personal Watercraft Insurance Policy

Coverage that a boat or personal watercraft is added to a homeowner’s policy is not available, which can be offered with competitive rates, broad acceptance, and exclusive coverage for boat and personal watercraft (PWC) owners .

These policies may include:

Consequent sinking, explosion, burn or collision due to wear and tear, latent defects or mechanical breakdown.

• Subject to local customs, until the boat is cooled according to the manufacturer’s specifications, damaging the boat and engine.

• No betterment or depreciation charges. For example, a six-year Bimini peak bursts during a storm; It will be replaced with a new one instead of paying a small percentage of the original price.

Policy Features:

Agreed Price – Available on any boat eligible for physical damage coverage. In the event of a total loss, it pays the rating base regardless of the actual cash value. Optional for full coverage policies. Protects against depreciation.

Total Loss Replacement – Available on newly purchased boats up to one year old model. In the event of a total loss, the insured replaces the boat with the new boat. For boats over five years old. They pay the purchase price. Prevents depreciation and inflation.

Navigation – Coverage applies to all inland waterways and all bodies of water within 75 miles of the US and Canada; 125 = mile shipping boundary endorsement.

Environmental Damage – Fuel spill and debris removal coverage included with all policies.

Roadside cover – the boat breaks when it breaks – even if the tow vehicle is not insured by the insurance carrier.

Watersports activities are included, along with waterkicking, wakeboarding – liability and med pay coverage.

Replacement costs — on-board items — affect personal effects and primary coverage for fishing equipment.

Towing Emergency on Water – When a boat is disabled on water, it provides reimbursement for towing and labor costs on the water.

Propulsion Plus – Provides coverage for the lower unit of an external motor and the upper and lower units of a stern drive motor, in the event of mechanical breakdown, due to wear and tear.

Disappearing Deductibles – Deductibles are reduced by 25 percent for each claim-free policy period. After four claim-free policy periods, the deductible is zero.

Short Claims Waiver – If the customer has one or more claims that require payment of $ 500.00 or less, the premium does not increase.

Do you know that one in eight vehicle owner families in the United States own a boat.

The average is 41 for PWC owners and 45to49 for boat owners.

The average income for PWC owners is $ 95,000.00 and for boat owners is $ 50,000 to $ 75,000.

Purchase of used boats makes up 70 percent of the new boat policies.