Even when not using your boat during winter, you still need to get boat insurance Cape Coral trusts. This is because a variety of losses occur while the boat is in storage. The type of insurance coverage you need will depend on where you will be storing the boat.
Common losses that are related to storage include the following:
- Shelter collapse
- Wind damage
- Damage by pests
- Tree and objects falling on the boat
- Frost damage
Older boats are much harder to insure. This is because insurers consider them to be of high risk. Prior to spending money on a used or old vessel, make sure an experienced boat surveyor in Cape Coral inspects it. In most cases, when you apply for boat insurance Cape Coral recommends, the insurer will send their own surveyor to evaluate the condition of your boat. Make sure you work with an independent surveyor to avoid being under-covered. Your surveyor will also confirm everything the surveyor from a marine insurance company finds.
The age of your boat and where you will be storing it is not the only factor you should consider. When determining how much to insure your boat for, insurance companies consider the following.
The safety equipment already on your boat will determine whether you get high premiums or not. Having an automatic fire extinguisher system, for example, makes your boat less susceptible to fire damage. As a result, an insurer will charge lower premiums. Other safety equipment you should consider getting prior to applying for boat insurance include GPS, radar, and depth finder. The equipment will reduce insurance premiums.
Where you plan on taking your boat matters. Some areas are considered to be riskier. For example, insurance companies consider boating in a small lake to be less risky than boating in international waters. This is because boats used in international waters are at a higher risk from incidences such as storms.
Being a good driver will help you enjoy lower premiums. Incidences like DUIs will significantly impact your insurance premiums. An insurer looks at your driving record to assess your risk level.
For how long have you owned a boat and what is your boating experience? The more experience you have in boating the less risky you are. Having no reckless boating incidences in the past will further help you get great insurance rates. You can also save money by completing a boating course.
There are many factors that are considered when calculating your insurance premium. Working with a boat surveyor will help you know how much coverage you will get and which type of cover to get.