Owning a boat is a big responsibility and you’ll need to protect your purchase. If you don’t know anything about buying a marine insurance policy, you’re not alone. Like many boat owners who have never shopped for coverage in the past, you may not know where to start.
This is where Guy P Williams insurance agency can help. We provide multiple boat insurance quotes for comparison. Our team boat insurance specialists will work with you to determine the best and most affordable coverage for you, your watercraft, and your lifestyle.
Boat or Marine insurance is available for yachts, small boats, liveaboard houseboats, high performance power boats, catamarans, or pontoons. Marine insurance will cover intended use including personal recreation, commercial, or charter vessels.
There are different policies to cover damage to your boat, motor, trailer, and personal effects in the boat. Available coverage includes liability, medical payments, injury to a water skier and damage to the boat itself, which is sometimes called hull coverage. Even though boat insurance premiums are low, shopping your rate can sometimes save a substantial amount.
Boat Insurance Coverage Terminology?
Boat insurance coverage terminology can be confusing and understanding it can mean the difference between having the boat insurance coverage you need, and an accident that may not be completely covered. Here are some of the most popular boat insurance terms to help. You can call 614-488-1101 or use the form on this page and we can help you.
On-water Towing: If your boat breaks down, water towing and on-location repairs can be expensive. Having on-water towing can give you peace of mind and save you from a large, unexpected bill.
Total Loss: An accident could result in repairs that exceed the boat's value. In that case the insurance agency would likely offer you the amount that your boat was worth prior to the damage.
Lay-up Dates: For many Ohio boat users, there is a period of the year where the boat is not being used. Boat insurance may be lower if the policy includes a lay-up period while in storage.
Latent Defect: This refers to a defect that can not be found by an inspection or test that the law reasonably requires. This coverage would include damage that was caused to the boat as a result of the latent defect.
Disappearing Deductible: Policies that include a disappearing deductible account for the fact that boating accidents are the exception and not the rule, making your out-of-pocket deductible smaller each year that you don't file a claim.