Boat Insurance From The Specialists
If you are a boat, yacht, or sailboat enthusiast and you’re looking for cheap boat insurance, then you came to the right place. Let’s face it, having boat insurance isn’t cheap and shopping around for the best rates is no picnic. Thanks to the new system provided by CETA you will be able to find the correct cover, without having to shop around.
Just fill in the fast, free quote form, it only takes a few minutes. Once you receive your boat insurance quotes, then all you have to do is compare and choose the best plan for you and that fits within your budget. By letting agents compete for your business, you know you will receive very competitive rates, which means savings for you!
Boat Insurance is another part of the Boat Buying puzzle that needs attention. We have now chosen the right New or Used Boat and where we are buying it from, either a private owner, Boat Dealer or Boat Broker, so now we are ready to Insure our Boat.
If you were able to buy your Boat with cash, generally are not legally obliged to get it insured (although if it’s kept in a marina this is often a requirement of the marinas contract to protect other craft) – it does make sense however, to get adequate cover to protect your vessel from theft or damage. However, we are all not that lucky and for those who have to take out marine finance it is often a requirement of the loan that you get coverage to protect the lenders investment.
Buckys will provide you with information needed to help you through the Boat Insurance process.
First thing, if a homeowner your homeowners insurance coverage is not the best choice to cover your Yacht, Boat or Personal Watercraft. Purchase a policy for each of these separately. Placing your Boat under your homeowners policy may not cover all your insurance needs such as wreck removal/salvage.
Factors Affecting your Boat Insurance Premiums:
Where you live – where you live and where the boat is moored
Your Boating experience – we recommend signing up for a class or course to get your Captain’s License or at least a Boater Safety course. This will keep you and your Boat safe and reduce your Insurance premiums.
Storage – in the Water? Dry dock? At home? Inside or out? This can determine how the Boat will age when not out on the Water.
Credit History – many of us had some issues one time or another, this is a factor but not heavily weighed upon.
Past Insurance claims – if you are not a first time Boater and have had Boats in the past but filed claims with the a previous Insurance Company, this could have an effect. Automobile claims also have a bearing.
Driving record – are you a safe driver? If so this can definitely help reduce your Insurance premium.
You can purchase a Boat Insurance policy for all types of Boats and Yachts including Houseboats and Sailboats to Personal Watercraft (PWC). Which ever Boat you have be sure you get the coverage your Bank requires plus what is required by law (which is usually the same).
An example of a Basic Policy and what it MAY cover:
- Value of your Boat
- Engine(s) and hull
- Personal Property (Fishing equipment, TVs, etc)
- Protection against uninsured boaters
- Tow Coverage
- Wreck removal/salvage (grounded)
- Trailer-able Boats
- Personal Injury (yourself and those on board)
- General Liability
- Weather Damage
- Spill Coverage
Yachts and PWC policies would defer from above.
Tip: A boat is considered from 26′ feet or smaller while a Yacht is considered 27′ feet or longer.
Alert: Boat Theft is on the rise. Review your policy to ensure your covered in the event of a loss or if you have an existing policy contact your insurance agent to either review or add. Boat Theft can be avoided by proper storage, removing all keys and cutting off battery power. Protecting your Boat from theft starts with you, make the effort!
So what it comes down to is, What is the most suitable cover for your Boat?! Start by asking other Boaters what providers they recommend and get a quote.
Last but not least one option for your average Boater is what is called ‘All Risk’ policy. This will cover just about everything except for normal wear & tear. One step further is to customise you policy to fit your Boating needs, for example if you run a Scuba-Diving club be sure to get all tanks, equipment covered.
Customise your policy to make your life easier and have peace of mind! Not sure where to start? Fill out the quick quote form now!