As an experienced boater, there is a chance you know a thing or two about boat insurance Cape Coral trusts. For instance, when shopping for boat insurance, you would probably ask about the type of insurance policy you will be getting: agreed hull value, actual cash value, or liability only. You would also know a trend that is similar to auto insurance in which marine insurers offer 24/7 on-water and on-road towing services. In this post, we will be looking at the types of boat insurance coverage you should ask for. We are not, however, saying you will need all the following coverages.
What if a storm deposits your boat hundreds of yards from the water or you get stuck miles from the dock? These things do happen and it can cost thousands of dollars to retrieve your boat. Even with a basic liability policy, it is good to consider getting total-salvage coverage. This type of boat insurance Cape Coral recommends, will save you a ton of money.
Federal law makes you responsible for any fuel spilled, for any reason. Whether the spill is a result of an oil leak or because your boat sinks, you will be responsible for the cleanup. You should consider getting fuel-spill coverage to avoid hefty fines.
Tragedies like sinking often result from small parts failing. While they cover sinking, some policies may exclude this coverage if sinking was caused by consequential damage such as a failed seacock or bellows. Keep in mind that some insurers’ consequential-damage coverage is for total loss only. It is good to ask your insurer about their terms on consequential-damage coverage.
Uninsured boater coverage
This coverage is similar to uninsured motorist coverage that some auto drivers buy. The cover offers additional coverage for bodily injuries aboard the boat caused by collision with a hit-and-run boater or when you are hit by a boater that doesn’t have an insurance cover. Consider this cover because many boats are uninsured.
Medical payments coverage
This offers per-person limit of coverage for injuries that occur while aboard your insured boat. Most insurers will cap the payout at $1,000. There are, however, others that offer much higher limits. This type of cover is warranted if you engage in any form of watersports.
Hurricane haul-out coverage
Thanks to its long coastline, Florida frequently finds itself in the path of a hurricane or intense storms. This makes the need for hurricane haul-out coverage important. This cover will pay part of the costs of getting your boat hauled, prepared, and secured down by a professional.
Other coverages you should consider include:
- Boat trailer coverage
- Partial loss depreciation waiver
- Marine electronics endorsement
- Cruising-extension coverage
- Watersports coverage
- Angler coverage
While it is easy to find boat insurance, working with an experienced marine surveyor in Cape Coral will help you find the best insurer and the most comprehensive cover. Always talk to a boat surveyor before committing to any insurance offer.