Your first boat is likely an enormous source of pleasure and pride. After buying it, insurance might be on your mind, but you may not yet realize that boat insurance is somewhat different than car or truck insurance. You'll need to closely pay attention to the boat-related details below so you get adequate coverage and pay reasonable rates.
You Must Know Your "Lay-Up" Dates
While your other vehicles may be covered by policies all year, boat insurance operates a little differently. Many policies have "black out" or "lay up" dates. This can benefit you because your insurance costs will overall be lower; when you're not covered for weeks at a time, you won't be paying for those dates. This works well if you live in an area where snow and frigid temperatures keep you on land. However, if it warms up early and you want to take your boat on an early spring jaunt, you might be uncovered if the boat is still in its "lay up" period. Be sure you're well aware of the respective dates and don't ever use your boat when it isn't officially covered.
You Must Ask Where Your Boat is Insured
Your car is likely insured whether it's sitting in your garage or whether it's on a highway in another state. Boats, however, are sometimes only insured when they are traveling on water. It's possible that, in a rush to keep cost low, you're about to sign a policy that won't cover your boat on your property or as it travels behind your car on the way to a body of water. In fact, you might need to explore greater car or truck insurance options if you'll be transporting the boat back and forth. You may need to explore watercraft adjustments related to your home insurance policy if you'll keep the boat stored on your property.
You Should Closely Examine Hurricane and Salvage Coverage
You shouldn't assume that all boat insurance policies will cover hurricane conditions or salvage situations. Some do not, simply because a boat owner lives somewhere where those possibilities aren't really an issue. However, you should look into any policy for information about what happens in an hurricane and whether you'll be compensated for salvage conditions.
Your boat is another vehicle that must be insured. Understanding these details and reading policies closely will enable you to enjoy your boat while being certain that coverage is appropriate and that you're protected. Contact an agency, like Veronica's Auto Insurance, for more help.