Boat Insurance | Insuring your boat.
Every year, thousands of boating accidents happen in Australia. Out of this, 60 percent results in some kind of injury. Aside from accidents, boats also get stolen. This is why it is very important to get boat insurance. With all the dangers, it would be crazy not to get boat insurance.
4. Insuring your boat from a company with a good reputation and high standards is paramount.
5. Choose an insurance company with a wide variety of coverage options. This is very important because your needs as a boat owner are very unique. The company's menu of products should accommodate a circle of protection for your needs both today and tomorrow.
More tips for insuring your boat.6. Boat insurance come in different prices ranging from the affordable to the ridiculously expensive. It is important to understand the policy and service promises behind the price of the boat insurance It's better to pay for an expensive but good quality boat insurance than a cheap one with limited features. It is not advisable when insuring your boat to accept low protection just to get a lower price. Make sure that you get the protection you and your boat require.
7. Consider the type of boat you own before getting boat insurance. Do you own a motorboat, a personal watercraft (PWC), a boat without a motor (canoe, kayak or rowboat)? Consider also circumstances in which you plan to use the boat insurance.
8. Though boat insurance is designed to protect your boat, it is also advisable to take note of the other coverage options available. When insuring your boat an important boat insurance option is the medical payment coverage which can offer medical protection for you and your passengers. You can never be so sure of your and your passengers' safety when your out at sea.
9. Another option to consider is water liability coverage. There may be instances when you will accidentally injure a person while on the water, a passenger, a swimmer or a water skier perhaps. This is where water liability coverage comes in handy. This type of coverage also protects you if you collide with and damage another boat or if you hit a rock.
10. The most important option is the physical damage coverage. This coverage will come in very handy if you hit another boat, a submerged object or a dock and damaged your boat's motor. The physical damage coverage usually has two components:
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