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Boat Insurance

Boat Insurance

Boat Insurance

Get the best boat policy that will meet your needs and rewards you with discounts for safety and experience. Receive a no-obligation online rate quote from America’s leading boat insurance companies by letting 1st Quality boat insurance do the shopping for you. 1st Quality boat insurance consultants provide much more than inexpensive boat insurance; we are committed to the highest standard of service. Read below to see what boat insurance offers you.

What we can help with.

There are many different factors when getting boat insurance. We make sire that we cover all aspects of you insurance and get you the best coverage at the lowest price guaranteed. Read below for more information.

The basics

There are two basic types of boat insurance—“agreed value” and “actual cash value.” How depreciation is handled is what sets them apart. An “agreed value” policy covers the boat based on its value when the policy was written. While it can cost more up front, there is no depreciation for a total loss of the boat (some partial losses may be depreciated). “Actual cash value” policies cost less up front, but factor in depreciation. In other word, the policy will only pay up to the actual cash value of the boat at the time it is declared a total or partial loss.

Kind of policies Cooper City boat insurance offers.

Marine insurance covers a wide berth of watercraft. You may be surprised to find what can be insured. Marine insurance policies include:

  • Boat
  • PWC/Watercraft
  • Yacht – generally, vessels 26′ and smaller are called “boats,” and “yachts” are 27′ and larger. Yacht coverage tends to be broader and more specialized because larger boats travel farther and have more unique exposures. To see more about Yacht coverage check out our Yacht policy HERE
  • Sailboat
  • Dinghy
  • Boat & PWC Rental – Although this is generally not required, rental insurance will help cover any damage the vessel, as well as the operator and passengers.
  • Boat Clubs – covers all members of club while operating a boat.
  • Professional (ProAngler, Fishing Guides & Charters) – These policies are very customizable and can cover items like travel to a tournament, equipment and more.

What Boat Insurance Policies Cover

How and where you boat determines the type of coverage you need. An “all risk” policy will offer the best protection. However, an “all risk” policy does not cover every type of loss; in insurance terms “all risk” just means that any risk not specifically omitted in the policy is covered. Typical exclusions include wear and tear, marring, denting, animal damage, manufacturers’ defects, design defects, ice and freezing.

You may also be able to add extra coverage. Available options may include: medical payments, personal effects, uninsured boaters liability, and towing and assistance. Most policies will cover permanently attached equipment, as well as items like anchors, oars, trolling motors, tools, seat cushions, and life jackets. Be sure to discuss these options with your agent.

Types of Coverage

This will depend on the type of policy, but common coverage add-ons (in addition to basic ones above) include:

  • Specialized Coverage – Coverage for something specific on your boat like an expensive prop or accessory.
  • Salvage – Coverage that pays to remove your boat due to damage, from substantial to minor.
    Consequential Damage – Covers a loss that was the result wear and tear rather than an accident (rot, mold, corrosion).
  • Towing – Towing your boat across a body of water to safety.
  • Cruising Extension – You can get temporary, additional coverage if you plan on leaving the USA (typically to Mexico or the Bahamas)

For more question on a policy fill out the form to the right or give boat insurance a call 800-985-6817 today! Remember, we shop for you, all you have to do is select the right policy for you. Remember, boat insurance is here for you.