Avoid Troubled Waters : Insure Your Boat
by RON DARDEN and BRYAN MIRANDA
You may be considering hitting the open waters less frequently this year because of higher gas prices. But, you could save some extra bucks just by reviewing and making changes to your boat owner’s policy. Yes, chances are you
really do need a boat own- er’s policy. Many policy holders believe water craft vehicles are covered under their auto or home owners policy. But, for most insur- ers, that isn’t the case. Typically an auto policy
won’t provide liability or physical damage cover- age for a boat. And most homeowners policies only provide a limited amount of coverage for physical damage to boats and restrict automatic liability coverage to low-powered boats. It’s a good idea to purchase a separate boat policy to ensure that you are adequately insured. Carefully reviewing you policy with an agent can help you save money while assuring you have adequate coverage for your needs. If you are prepared financially for a loss and have the means to cover yourself, the simplest way to cut costs is to consider a higher deductible. A deductible above the standard $250 may reduce the premium. For additional coverage, you may want to consider emergency services and personal effects coverage.
While water activities are a great part of summer fun, being uninsured can lead to disaster later.
Many insurance companies, give premium credits to policyholders for having certain systems on the boat or for completing accredited, instructional boating safety education. If your boat is equipped with such items as an audible burglar alarm, fume detector, built in fire extinguishing system,a ship to shore radio, radar, sonar, loran and depth finder you may qualify for additional dis- counts. You can also save by purchasing a boat with a diesel engine. Diesel engines
are generally more efficient than gasoline engines of the same power, resulting in lower fuel consumption. Many insurance companies also offer credits for boats with diesel engines.
Review your policy with your agent to make
sure you are getting the best coverage for your personal needs.
RON DARDEN & BRYAN MIRANDA Contributing Writers
COMMENTS? 484-6200 ext. 222 or editor@upandcomingweekly.com
16 UCW MAY 12-18, 2010
WWW.UPANDCOMINGWEEKLY.COM
