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5 Things You Need to Know about Boat Insurance

When it comes to boat insurance, there are a lot of things that people may not know about. Many people enjoy boating and the adventures and memories they create with friends and family. For some people, nothing is better than the wind blowing through their hair and the sense of freedom on the open water. But before you embark on your next adventure, read on for five things you should know about boat insurance.

1. Why Do You Need Boat Insurance?

Many homeowners comfortably cruise the waters with the false security that their homeowners insurance is covering their boat. Unfortunately in most situations, this is not the case. Homeowners who have a small boat, such as one with a small engine or no engine, may be covered by their homeowners insurance policy. If you have a relatively large boat, one that costs $10,000 or more, there is a good chance your homeowners insurance policy will not cover the boat. It is in your best interest to purchase a separate insurance policy for your boat.

2. What is the Difference Between Boating Insurance and Other Insurance Coverage?

Boating insurance is unique. There are similarities between auto, home and boating insurance, but there are a lot of factors that set them apart. Similar to home insurance coverage, in the unfortunate event a passenger is hurt on your boat, you have the option of taking a total loss, or you can consider replacement costs of cash value. Boating insurance has one feature that auto, home, and life insurance do not possess. With boating insurance, you can suspend your insurance coverage when the boat is not in use, saving you money in the off-season.

3. When and Where is My Boat Covered by Insurance?

Boating insurance confuses many boat owners because of the differences between coverage in different situations. Your boat is covered by your individual insurance policy when it is in the water. When you are traveling with your boat and it is out of the water, such as attached to your vehicle, your boat is then covered by your auto insurance policy. Homeowner’s insurance may cover damage expenses to your boat if the damage occurred while on your property.

4. Check Before You Travel

Your boat may not be covered by your insurance policy everywhere you would like to take your boat. In this event, you should check the rules and regulations of your policy and the coverage requirements of the places you would like to travel to ensure you are covered by proper insurance to avoid unnecessary fees.

5. Always Remain Safe

Safety features are the most important items on your checklist. Some boat owners skip out on safety features for their boat to save money, but in the long run, it becomes more expensive. A lot of the time, the more safety features you have, the lower your insurance premium will be. When you are on the water, you want to make sure you and your passengers are as safe as possible to avoid any emergencies on the water. Make sure you always have enough life vests for everyone on-board, as well as a fire extinguisher and a whistle.

At Ramey King Insurance, we make sure that you enjoy your time on the water without having to worry about what could go wrong. Our agency specializes in writing insurance policies for boaters, so you can be certain we will provide you among the best protection available. We understand the differences between power boaters, sailors, and commercial fishermen, and we can tailor an insurance policy to your unique needs.

To learn more about Ramey King, what we do, and how our services can be of benefit to you, give us a call today. You can reach a Ramey King Insurance agent at 800-453-9691, by emailing or by filling out the quick and easy form on this page. We look forward to hearing from you!