Types of Coverage in a Boat Insurance Policy

When you own a car, you need auto insurance. When you own a boat, you need boat insurance. These two types of policies are very similar in the way they cover you against accidents. There are different types of coverage inside a boat insurance policy. Each type is a different kind of protection against your risks. At the very least, you must have two liability coverage types to protect yourself. To get started with your boat policy, call us at Walker and Associates Insurance Agencies Inc. in Fillmore, NY.

Bodily Injury Liability

It’s essential to have this coverage to pay for any injuries someone else has due to an accident with your boat. This doesn’t pay for your own injuries. Instead, it covers your liability when you’ve caused a boating accident. Boating accidents are common, and they can result in serious injuries. Make sure you have plenty of this coverage to pay for severe injuries that require expensive medical treatments. 

Property Damage Liability

It’s important also to have this type of coverage. It pays for the damage done to someone else’s property by your boat. You need this coverage to protect yourself from lawsuits and massive repair bills. 

Other Coverage Types

Collision coverage pays for the damages that are done to your boat and the repair costs that are required. This is important because property damage liability only pays for the damage to someone else’s boat. This coverage protects the investment you’ve made into this asset. There is also comprehensive coverage. This is a way to protect yourself against mishaps that can happen off the water. 

Protect Yourself With Boat Insurance 

If you have a boat that isn’t insured, call Walker and Associates Insurance Agencies Inc. in Fillmore, NY. 

The Benefits of an Annual Boat Insurance Review

Boat insurance is an important tool for safeguarding what is often a significant investment. To make sure your boat or vessel coverage remains cost-effective and sufficient to meet your ever-evolving needs, the insurance professionals of Walker and Associates Insurance Agencies Inc. in Fillmore, NY offer this guide regarding the benefits of an annual boat insurance review.

Defining an Annual Boat Insurance Review’s Benefits

First, it is noted that coverage options and legal requirements of insurance are subject to change, so a yearly review ensures you are legally compliant and aware of any potential coverage changes. In addition, reviewing your boat policy provides an important peace of mind and allows you to –

1. Ensure your policy details and bat usage/location are accurate and up-to-date.

2. Adjust your coverage as your insurance needs change.

3. Assess if your deductible and protection align with current financial objectives.

4. Confirm if your liability coverage protects all of your current assets.

5. Determine if there are coverage types that may be beneficial for your personal situation.

Contact Us Today

Owning a boat can be a rewarding experience with many hours of enjoyment. However, like any asset, a boat should have proper protection. An annual boat insurance review is the easiest and smartest way to make sure your boat and your financial interests are sufficiently protected. For more information, contact us at Walker and Associates Insurance Agencies Inc. in Fillmore, NY today.

Four misconceptions about boat insurance

Boaters should be insured to enjoy the financial protection that insurance coverage offers. Boat owners in Fillmore, NY can purchase insurance coverage from Walker and Associates Insurance Agencies Inc.

The following are four misconceptions you should be aware of regarding boat insurance. 

You should always buy boat insurance from the same company that insures your vehicle. 

In some cases, you may be able to get a bundling discount on boat insurance when you buy a policy from the same company that sold you your vehicle insurance. However, this is not always the case.

Be sure to shop around before assuming that your current insurance provider will give you the best possible price on boat insurance. 

No one really needs boat insurance.

It’s true that boat insurance is not required according to New York law. However, that doesn’t mean that no one needs it. Some boat owners are required to carry insurance by their boat loan lender or by their marina. 

Boat insurance is an expensive type of insurance coverage.

Boat owners will be happy to know that boat insurance doesn’t usually cost more on average than home insurance policies or vehicle insurance policies. 

You can enjoy coverage anywhere you go boating.

Make sure you discuss the navigational areas in which you plan to go boating and need your policy to be in effect.

Boat insurance policies specify areas where the policyholder can go boating and still enjoy coverage. You cannot assume that you’ll be covered everywhere you want to go according to your policy. 

Give Us A Call

Are you in the market for boat insurance in Fillmore, NY? We can help at Walker and Associates Insurance Agencies Inc. Contact us to get a quote on a boat insurance policy. 

What Should I Do If My Boat Is Damaged In A Storm?

If you’re a boat owner, you know that storms can be a huge danger to your vessel. High winds and waves can cause serious damage, and if you’re not prepared, you could end up with a wrecked boat on your hands. Walker and Associates Insurance Agencies Inc in Fillmore, NY can provide expert insurance advice to navigate such situations.

Here are some steps to take if your boat is damaged in a storm:

Assess the Damage

The first thing you should do is assess the damage. If the boat is still afloat, you’ll want to look at the hull and see if there are any cracks or holes. If the boat is sunk, you’ll need to focus on salvage and recovery. Either way, it’s important to document the damage with photos and/or video.

Contact Your Insurance Company

Once you’ve assessed the damage, the next step is to contact your insurance company. You’ll need to file a claim and provide them with all of the documentation that you have. A reputable agency such as Walker and Associates Insurance Agencies Inc. will send an adjuster fast to assess the damage and determine how much they are willing to pay.

If you have comprehensive coverage, your insurance company will likely cover the cost of repairs. However, if you only have liability coverage, then they may only cover the cost of salvage and recovery. Either way, it’s important to get in touch with your insurance company as soon as possible so that you can start the claims process.

Make the Repairs

If your insurance company is going to cover the cost of repairs, then you’ll need to find a reputable boat repair shop. They’ll be able to fix the damage and get your boat back in working order.

However, if your insurance company is only going to cover the cost of salvage and recovery, then you’ll need to find a reputable salvage company. They’ll be able to retrieve your boat and bring it back to shore.

Contact Us Today

If you’re unfortunate enough to have your boat damaged in a storm, there are a few things you can do to minimize the damage. First, contact your insurance agent and let them know what happened. They’ll be able to help you file a claim and get the repairs started. Get in touch with Walker and Associates Insurance Agencies Inc in Fillmore, NY for all your insurance needs.