Albemarle, North Carolina
1305 Bird Rd
Albemarle, NC 28001-5362
704-986-2222

3 Facts You Should Know About Boat Insurance May 18, 2017

Albemarle, Stanly
3 Facts You Should Know About Boat Insurance, Albemarle, North Carolina

Boating is a fun way to enjoy the warm summer months in North Carolina, but if you lack the proper insurance, you could be in trouble if an accident occurs. The agents at A Affordable Insurance Services can explore your boat insurance options to find a policy that provides you with the right amount of coverage. With their help, you’ll feel confident out on the water this summer.

3 Facts You Need to Know About Boat Insurance  

1. It’s Separate From Your Home & Auto Insurance

It’s a common misconception among first-time boat owners that their home and auto insurance will provide all the coverage they need. But just as your car is not covered by your homeowners insurance, neither are motorized boats. For boats that are towed behind a car or truck, however, they are covered under your auto insurance policy during land transport. Once the boat is in the water, you need a proper boat insurance policy in place.

2. There Are Different Polices

Boat InsuranceJust as a car’s value depreciates, so does a boat’s. If you have a market value policy, and the boat is damaged beyond repair, you will only receive compensation for the craft’s current, depreciated value. This means you won’t have enough money to buy a brand-new boat—you’ll probably have to purchase a used one of a similar model instead. If you choose agreed value, however, you and the insurer set this amount up front. If something happens, that’s the amount you receive, regardless of the boat’s value at the time of the damage.

3. Your Policy May Have Location Limits

As previously mentioned, when you’re towing your boat on land, it’s covered by your auto insurance. In the water, you’re covered as long as you remain within your policy’s navigational limits. These limits will depend on your geographical location and the type of boating you plan to do. Some policies limit you to inland waters in the U.S., while others permit coastal travel.

Whether you already own a boat and are shopping for new boat insurance, or you're planning to make a purchase soon, contact A Affordable Insurance Services to see what kinds of rates they can get you. You can call their office at (704) 986-2222 or visit them online.

Other Announcements, Events and Deals from A Affordable Insurance Services LLC
Closed in observation of Memorial Day, Albemarle, North Carolina
Our Memorial Day holiday we will be closed. We will reopen Tuesday the 30th of May. Hope you have  a great Memorial Day read more
5 Factors That Increase Motorcycle Insurance Premiums , Albemarle, North Carolina
Motorcycle insurance is required for all motorists who drive this type of vehicle. However, due to the risk involved, covering your motorcycle can be rather expensive. Fortunately, b...read more
3 Important Ways Your Choice of Car Affects Auto Insurance Quotes, Albemarle, North Carolina
Finding an affordable auto insurance policy isn’t always easy. There are so many different factors that play a role in determining what your rates are. Some things, like your ag...read more
What is High-Risk Car Insurance? , Albemarle, North Carolina
Unfortunately, many high-risk drivers find that their options for car insurance policies can be extremely costly—they also find that it’s incredibly difficult to find subst...read more