Whether your goal is cruising for miles or fishing, once you own a boat, you first need to get boat insurance Cape Coral. The purpose of boat insurance is to give you peace of mind as you sail. There are many boat insurance companies and agents you can reach out to. However, there are many myths surrounding boat insurance. Let’s take a look at the main ones.
Everyone pays more for a cover against natural disasters that happened years ago
A common myth is that people pay more for boat insurance Cape Coral when getting a cover that protects against a natural disaster that passed through the area a couple of years ago. A study found that 74% of respondents believed this myth to be true. The truth is boat insurers price their policy based on the number of claims. The more hurricanes there are in a state, the more losses the state experiences. As a result, the policies are higher priced. With this fact in mind, boat owners in Florida pay higher-priced policies than those in Ohio. Talk to a boat surveyor to understand your coverage options.
Boat insurance covers you regardless of where you go
A study found that 75% of respondents believed their boat insurance covered them regardless of where they went. The reality is there is a navigation limit. This will depend on the limit set by your insurance provider. For example, your insurer may limit coverage to 100 nautical miles from the home port, while others will limit based on the region of the country. Always contact your insurance carrier to clear up things before you start sailing. On the other hand, a marine surveyor will tell you where not to sail to, depending on the condition and type of your boat.
Buying boat insurance from the same company that insures my home/car will get me a cheaper rate
While some insurers do offer multi-policy discounts, buying boat insurance from the same company that insures your home or car does not guarantee you will get a deal. The best way to get the most comprehensive insurance cover at the best rate is to shop around and combine specialized policies from different companies. For example, if your car insurance company doesn’t specialize in boat insurance, you might get frustrated when filing a claim. This is because getting a cover from a company that doesn’t specialize in boat insurance may cause you to miss out on special coverage options and discounts.
Getting the facts is better than following the crowd. In addition to getting a marine survey done to help you know how much cover you need, you should research the company you plan on working with.