Boat owners in Fontana, CA who keep their watercraft in a nearby harbor should have a separate insurance policy to cover damage to their watercraft if an incident occurs. If this is your first time owning a boat, you need to know what type of policy to buy. Rock Hard Insurance Agency can provide you with marine insurance that will adequately cover your boat.
The Size of the Watercraft Matters
Insurers consider vessels measuring 27 feet long and under to be boats. Your homeowner’s insurance may cover damage to smaller boats, depending on the details of your policy. Nevertheless, your homeowner’s insurance may not provide adequate coverage, leaving you holding the bill for some types of damage. However, if the vessel is above 28 feet, insurers consider it a yacht, which puts you in the luxury insurance category.
Yacht Insurance Has Many Components
Unlike insurance policies for smaller vessels, luxury boat insurance has many different choices and components, often making it difficult for consumers to know what they need. Although you won’t find a one-size-fits-all policy, marine insurance covering yachts is generally more comprehensive than coverage for smaller boats. This type of boat insurance applies to luxury sailboats, small cruisers, and other vessels with blue-water cruising or ocean-going ability.
Among the terms that consumers will face are agreed cash value, actual cash value, new for old, and depreciation. Boat insurance buyers also must be aware of hidden clauses that address the vessel’s seaworthiness, which can easily allow an insurer to deny a claim.
Carefully review any boat insurance policy you consider. If you need clarification on anything in your policy, our staff at Rock Hard Insurance Agency, serving the greater Fontana, CA region, will help you understand them. Contact us today to discover your insurance options.
