Boat
Boat insurance is necessary for anyone who wants to own a boat. Even when you think that nothing will happen to your boat, you still shouldn't operate it without the necessary insurance. Take the time to make sure that you are able to discuss your coverage with an agent or insurance company so that you are aware of the coverage that you have. Some states will require more coverage than others, depending on where you live. Also, you should keep in mind that if you have a loan on a boat, the lender will usually require that you have full coverage or a certain limit that will at least cover their expenses in the event that the boat is totaled or wrecked. Boat insurance comes in many different packages. The only thing that you need to remember is that you can get any type of boat insurance you want, as long as you get insurance. After all, if you're going to invest thousands of dollars, or even hundreds of thousands of dollars into the purchase of a boat it's only natural that you would want to take care of it and have it insured so that you don't lose out on your investment. If you think that you don't need boat insurance, you'll realize that you were wrong once you have an accident or emergency that insurance would cover and you pay for the expenses out of pocket. Not only is it a good idea to have boat insurance, but it is also responsible boating. It will protect your boat from damage, but it will also protect you from others, and protect others from you. Insurance is a must for boat owners, even when state law doesn't mandate any type of coverage. Sadly, too many people assume that they don't need insurance because their state law doesn't require any. However, paying a little of money each month for protection is definitely better than having a problem and having to pay thousands of dollars for repairs, or have a total loss and still have to pay the boat dealer for a boat that you don't even have. As a responsible boater, you should take the time to get quotes on boat insurance for any boat that you consider buying BEFORE you buy it. This should also be included in your budget for buying a boat, since it is part of the total expense. If your boat payment is $900 a month and your insurance is $100 a month, you should allocate $1000 each month for your boat budget, and also start an emergency fund that always has a little extra money in it in case you have a sudden emergency or repair to take care of. For more information, check out these boat resources.
Submitted by: Sandi
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Added: Wed Mar 11 2009
