Yacht Insurance Cape Coral – What Should You Do When Something Happens?

Regardless of the size of the boat you own, it is always important to get boat insurance. This will keep your investment safe in case something happens. However, you should be very careful when choosing an insurance cover. The type of coverage you get will depend on the type of cover you go for. You should leverage the input of a marine surveyor in Florida to know the kind of cover to get and what to insure. Now that you have the best yacht insurance Cape Coral, what should you do when something happens?

The first thing you must do when something severe happens to your boat is to call the U.S. Coast Guard. While on the water, the U.S. Coast Guard serves as the police. They are the first people you call after a serious boating accident. Doing so will protect you from future liability and make sure you and the other parties involved are safe.

It is legally required to report a boating accident to the U.S. Coast Guard if any of the following applies:

  • A person is injured beyond first aid or dies
  • A person disappears
  • There is damage to boat or property that exceeds $2,000
  • The boat or equipment are stolen or lost

It is only after contacting the U.S. Coast Guard that you should contact your provider of yacht insurance Cape Coral. Unlike cars, you are not legally required to carry proof of insurance on the boat. It will, however, be of great help if you have proof of insurance on hand during an emergency. Even if you don’t carry proof of insurance, make sure you are clear on the type of insurance coverage that you have. That way, you will be able to approach the situation in accordance with your insurance. For example, if you don’t have salvage coverage, having your yacht towed will end up costing you a lot of money out of pocket.

Accidents do not only happen in the water. At times, an accident can occur while storing or transporting your boat on land. In most cases, when the boat is out of the water, it is no longer covered by marine insurance. This is unless you took a cover for transporting or storing your boat. In most cases, when your boat ends up being hitched while on your truck, it will be covered by your auto policy. If the boat is parked on your property and gets damaged, your homeowners’ insurance will trump the boat insurance.

Yacht Insurance Cape Coral