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Inside this Article
Sail Boat
Insurance
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When it comes to insuring things those we own
against loss or damage we tend to want the very best.
After all,
we worked hard to get what we have and we all want to make sure
that we keep it and if loss or damage does occur then we want a
way to replace it.
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Sailboats are no exception to this rule. As one
of the more expensive toys we can own, Sailboats need to be
insured just like we would our cars and our homes. The major
difference between boat insurance and car insurance
is the amount of coverage a policy provides. This variation is
simplistic in nature but can be very difficult if one does not
know the very basis of the issue. The basis of sail boat insurance is the different things that can
be covered by the different policies and individual companies.
Of course
all of this varies by the type of boat and the company and location of
the boat but that is for another time.
The first thing to remember is the coverage that applies to your
sailboat should always apply to the persons on the boat as well. This is
called medical coverage and it works to protect you and anyone on the
boat in case of an accident or sinking. The insurance company so
that yourself and people with you will have their medical expenses pays
this for if an accident occurs. The amount of medical coverage does have
a maximum and once that amount is met then the insurance company
is no longer liable for further expenses incurred. Most often the amount
of coverage is more than enough to cover the medical bills, but there
are some extreme cases where it far exceeds the insurance company
payments.
Next you should look to cover the equipment on the sailboat itself. Car
insurance does not have this feature but under sail boat
insurance you can choose equipment that will be covered in case of
loss or damage. For a sailboat this is most often the sails, anchors,
riggings and on board electronics used for navigation. The reasoning
behind this type of coverage is the fact that all of these things are
necessary for the boat to be properly operated. So, in order to keep
your boat in working order than you will need to make sure that those
items are covered against loss. Theft from boats is a crime that grows
every year so be sure to protect yourself from thieves.
Finally you should consider the liability to the people around you
when choosing an insurance policy for your sailboat. If an accident
occurs and it is determined to be your fault then you are liable for
damages to the other person’s craft and their medical expenses if any.
Liability insurance offers coverage for those situations to keep you
from having huge expenses.
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