Boating insurance. Who needs it? Well, you do if you love being on the open water. You wouldn’t consider hitting the roads without car insurance, right? Well, it’s the same with boats and personal watercrafts. Pleasure boat insurance is the only way to guarantee your pride and joy is covered – on and off the water.
If you’re feeling like a fish out of water when it comes to boat insurance, you’re not alone. The unfamiliar territory of marine insurance disillusions a lot of new recreational boaters. To help make sense of it all, we’ve broken down the five W’s of boating insurance – the who, what, why, when and where – to ensure you get the right coverage for your watercraft this year.
THE FIVE W's OF MARINE INSURANCE
This one seems like a no-brainer, but finding a broker who specializes in boating insurance is key. You don’t want to end up with a bunk policy when your cousin’s, friend’s, boyfriend working out of his mom’s basement hooks up you up with a “great deal." An experienced broker will consider your regular boating usage and activities and tailor your policy accordingly. Loosen up the purse strings – it’s worth it.