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Safety at Sea: 3 Tips for Buying Boat Insurance


In 2019, the US Coastguard recorded 4,168 recreational boating accidents. This caused approximately $55 million in property damage.

Owning your own boat is a dream for many, especially for retirement. Being able to sail away somewhere exotic for a vacation sounds appealing, and, too good to turn down.

But it's important to treat your boat like you would a car or motorcycle. Accidents do occur and this is why you need boat insurance.

In this article, we're going to share with you 3 tips on what to look out for when purchasing your insurance.

Read on for more information...

1. Look at Fuel Spill Coverage

It may not be something you're too concerned with, but a fuel spill is a serious and costly business.

Federal law makes boat owners responsible for any type of fuel spill. If this is unfortunate to happen to you, the environmental fuel damage assessment and clean up will cost millions of dollars.

Therefore we suggest you take a look at getting this cover and ask insurance providers about the terms and conditions.

2. Hurricane Haul-Out Cover

This is something to consider in preparing for the worst possible scenario.

If you're new to boating or moving from inland to a coastal area, you may not be familiar with this type of coverage. This type of cover will share some of the cost of having your boat hauled, prepared, or, moved by a professional captain.

If this is of interest to you, you should ask boat haulers for an estimated cost in the event of a hurricane. This will give you a better idea of whether you want it.

3. Ask About Cruising-Extension Cover

You may be tempted to venture further out as you become a more confident sailor. Or, you may just fancy some winter sun in the Bahamas. If this is the case, this could be a good option for you.

Typically your insurance won't cover you for destinations further afield. Usually, if you decide to take a longer cruise, you would contact your insurance and get coverage for the specific area(s) before you set sail.

However, some insurers will offer approval for certain popular destinations. This saves you time in having to contact them before each individual trip.

If this is something you're interested in, ensure you are certain regarding which destinations you have cover for. This will save any horrible surprises and no doubt money.

Finally, you may want to consider an independent insurance agency that can tailor a policy specifically to you. This can save you time and even money in the long-run.

Tips on Finding The Best Boat Insurance

We hope you have enjoyed reading this article and have learned a few tips about finding the best boat insurance policy.

As you can see, there are many things to consider when shopping for insurance. You should be thorough when looking at insurance and ask providers about all types of scenarios.

Why not check out the rest of our blog for more information on traveling and transportation?

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