What should I consider when purchasing boat insurance?

Before you purchase a boat policy, it is a good idea to talk to an insurance representative who can help you determine your insurance needs and explain your coverage options. Things to consider and discuss with your agent include:

• What are the basic coverages, if any, required by your state or by your lender (if vessel is financed)?
• Will you be able to afford to pay your deductible and expenses above your policy limits in the event of a loss?
• How much would it cost to replace or repair your vessel, its fixtures and electronic equipment in the event of a loss?
• Do you frequently take people out on your boat?
• Do you have special features on your boat that might need extra protection?
• Where do you store your boat when it’s not in use?
• How do you transport your boat?
• Where do you plan to use your boat?
• Do you qualify for any discounts on your premium?

Once you purchase a boat insurance policy, it is important to review your coverage needs with one of our agents on an annual basis, or whenever there is a major change in the status of your boat or its use (e.g., you renovate your boat or change its storage location), to ensure your policy remains adequate for your needs and budget.