When you have devoted time and effort to find the right watercraft or boat, make sure your investment is protected by the right insurance coverage. The size, type and value of the craft and the water in which you use it factor into how much you will pay for boat insurance.
Insurance coverage typically includes the hull, machinery, fittings, furnishings and permanently attached equipment as part of either an actual cash value policy or on an agreed amount value basis.
- Actual Cash Value policies pay for
replacement costs less depreciation at the time of the loss. In the event of a
total loss, used boat pricing guides and other resources are used to determine
the vessel’s approximate market value.
- Agreed Amount Value basis policies
mean that you and your insurer have agreed on the value of your vessel and in
the event of a total loss you will be paid that amount. Agreed Amount Value
policies also replace old items for new in the event of a partial loss, without
any deduction for depreciation.
Physical damage exclusions apply.
insurance can also cover:
- Bodily injury caused to another
- Property damage caused to someone
- Guest passenger liability for any
legal expenses incurred by someone using the boat with the owner’s permission
- Medical payments for injuries to the
boat owner and other passengers
We specialize in:
- All Risks coverage for the hull and machinery, rigging,
tender, outboards, and personal effects
- Liability coverage for bodily injury or property damage
to third parties
- Volunteer medical payment coverage
- Flexibility for special coverage such as skippered
- Sailboat racing
Contact a HUB personal insurance broker today.
Learn more about boat insurance and safety:
a Boatload of Trouble with Boat
Case for Boat Insurance