Self-Checkup

Take a moment to identify your financial concerns:

Do you have more than three years experience operating a boat?
Do you plan to take your boat outside lakes and rivers in coastal waterways or areas prone to hurricanes?
Boat insurance companies check automobile driving records of authorized users.  Your record may be clean but how about other operators?
Would you want your personal assets exposed to a legal judgment against you for medical injuries or property damage?
Are you covered for emergency towing, fuel spill liability and temporary lodging or transportation if an incident occurs away from your home port?
Can you afford to partially self-insure and reduce the cost of your boat insurance policy by increasing your deductibles, or are you eligible for any money saving discounts?

Read your boat insurance policy carefully before buying.
Compare features as well as price. Make sure that you
are getting the best boat insurance policy for your money.

By purchasing boat insurance or marine insurance, boat owners don't have to leave themselves vulnerable to the risks of owning a boat. The risks of storms, strong winds, theft, accidents, and legal liabilities can be financially frightening.

Boat owners are legally responsible and can be sued for thousands of dollars for damages caused by their boats. In a boat accident, your boat may spill oil and fuel. Are you prepared to pay for the huge costs of environmental cleanup? Boat owners also need to consider associated costs such as emergency service, boat towing in the water, salvaging and wreck removal.

Boat insurance covers the vessel regardless of the person operating it. Boat insurance companies ask for operator names and years of experience to help them determine a premium rate.

Althought some insurance companies offer boat insurance with your homeowner's policy, it is always better to buy a freestanding boat insurance policy. If an accident or medical claim is made related to the boat, your homeowner's policy will not be affected.

Under federal low, boating accidents are required to be filed with the U.S. Coast Guard if the accident causes death, serious personal injury, damages exceeding $500, or complete loss of the boat.