Boat and Marine Coverage Basics

Boat and Marine Coverage Basics

 

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Boats may be insured for various coverage – in various ways – with various companies.
Boat owners need to take the time to question and understand the insurance they are purchasing. In most cases, boat values (even small boats) are in the thousands of dollars. A few dollars saved on an insurance policy could jeopardize needed coverage. If your agent cannot thoroughly explain the coverage, ask to speak to a company representative who can interpret the small print.

Boat owners should be aware of several aspects of boat policy coverage. Most, if not all, policies state, "It is the responsibility of the owner to immediately take all necessary action to protect the property from further damage when his boat is in peril."