Boats/Personal Water Craft’s
Adding your boat or personal watercraft to your homeowner’s policy could become a costly mistake for the following reasons:
- You will most likely have a higher deductible
- Your homeowners rate’s will be adversely affected after a claim
- You will not be covered for risks such as wreckage removal and some liability such as fuel spillage clean up
- You won’t have the option of agreed value or total loss replacement - you will be covered for actual cash value
- With a specialized policy you can purchase on water towing and some companies pay to tow your vehicle if you break down on the road while towing your boat
- Primary coverage for personal property and fishing equipment
- Progressive offers disappearing deductibles (25% for every year you are claim free)
- Your homeowners may limit liability and medical payments coverage if someone is injured (towing a tuber or water skier especially)
- You may not be covered for uninsured watercraft, leaving you unable to collect for injuries caused by another boater who is uninsured or liable to passengers on your boat who are injured by the actions of another boater
While many people consider a specialized policy on their recreation vehicles an unwanted expense, they may find out the few dollars they saved by adding it to their homeowners policy, or not going with a company that specializes in those vehicles could cost them hundreds or thousands more in the long run. Get a quote today!