Summertime is here and boating season is well on its way! If you are a boat owner, it may be time to check your insurance policy with some of the information offered below:
- You Need Coverage
Being that a boat is mobile, it can be taken anywhere and requires its own policy. Boats may be insured a small amount on property by homeowner’s insurance, but you are liable for things that happen to, on, and with your boat as well.
- How Boat Insurance Works
Boat insurance does not cover your boat out of the water. When your boat is attached to a vehicle, the insurance policy for that vehicle is the policy that covers damages to the boat You will also want to make sure you know the navigational limits of your policy if you plan to travel.
Boat insurance actually works as a combination of homeowner’s insurance and auto insurance. Your boat is covered for damages to the boat itself as well as any damages to a person in the boat.
- Save Money
An additional cost of insurance may have you squirming, but there are ways to save on boat insurance. Try using the same insurance agency, if you bundle home, auto, and boat insurance you are likely to save. Make sure the policy you rare signing up for doesn’t offer coverage you don’t need–it should be as specific to your boat as possible. Lastly, buy or equip your boat with safety features. Your boat will offer less risk and your policy will be less costly.
This information and more can be found at bankrate.com.
At Reta Insurance Agency in Illinois we offer business insurance, life insurance, and auto insurance. We have the coverage you need! Contact us today.