{"id":24,"date":"2014-06-26T15:23:43","date_gmt":"2014-06-26T19:23:43","guid":{"rendered":"https:\/\/project-011.com\/?page_id=24"},"modified":"2015-03-30T07:24:31","modified_gmt":"2015-03-30T12:24:31","slug":"boat-insurance","status":"publish","type":"page","link":"https:\/\/project-011.com\/?page_id=24","title":{"rendered":"Boat Insurance"},"content":{"rendered":"<a href=\"https:\/\/project-011.com\/wp-content\/uploads\/2014\/06\/Boat_LightBlue_crop72dpi__shutterstock_79484716.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-952\" src=\"https:\/\/project-011.com\/wp-content\/uploads\/2014\/06\/Boat_LightBlue_crop72dpi__shutterstock_79484716.jpg\" alt=\"Boat Insurance\" width=\"720\" height=\"417\" srcset=\"https:\/\/project-011.com\/wp-content\/uploads\/2014\/06\/Boat_LightBlue_crop72dpi__shutterstock_79484716.jpg 720w, https:\/\/project-011.com\/wp-content\/uploads\/2014\/06\/Boat_LightBlue_crop72dpi__shutterstock_79484716-300x174.jpg 300w\" sizes=\"auto, (max-width: 720px) 100vw, 720px\" \/><\/a>\n<h1 style=\"text-align: center;\">Boat Insurance Coverage &#8211; Pleasure Watercraft<\/h1>\n<p><strong>Boat insurance<\/strong> is known by a couple of different names.\u00a0 Boats are known more for how they are used than whether they were designed to float on water.\u00a0 For example, pontoon boats are a style of boat.\u00a0 So is a runabout.\u00a0 Bass boats are another kind of boat and again, it is largely described by the type of user.\u00a0 Yachts might be the boat that epitomize our luxury ambitions but boats is certainly a large target of on the water crafts.<\/p>\n<h2>Types of Boat Insurance Clients<\/h2>\n<p>There are several types of boats that we encounter in our daily boat insurance lives.<\/p>\n<ul>\n<li><a href=\"https:\/\/project-011.com\/?p=1728\">Small Boat Insurance<\/a> \u2013 Personal watercraft like runabouts, Cabin Cruisers, Small Yachts that are generally less than 27 feet<\/li>\n<li><a href=\"https:\/\/project-011.com\/?p=1681\">Personal Watercraft (PWC)<\/a> \u2013 Like a jet ski or small personal water craft less than 12 feet<\/li>\n<li><a href=\"https:\/\/project-011.com\/?p=1688\">Small Boat Insurance for Inflatables, Rowboats, canoes<\/a><\/li>\n<li><a href=\"https:\/\/project-011.com\/?p=1693\">Sailboat Insurance<\/a> \u2013 \u00a0Have large keel.\u00a0 Largely derive their power from sails and small pusher motors<\/li>\n<li><a href=\"https:\/\/project-011.com\/?p=1704\">Fishing Boats Insurance &amp; Bass Boats<\/a> \u2013 Usually high power outboard engines for speed on aluminum hulls<\/li>\n<li><a href=\"https:\/\/project-011.com\/?p=1699\">Yachts Insurance, Cruisers and Power Boats<\/a>\u2013 Boats that are generally over 27 feet.\u00a0 Modern designs are made from fiberglass laminates<\/li>\n<li><a href=\"https:\/\/project-011.com\/?p=1722\">Pontoon Boat Insurance<\/a> &#8211; Float boats of low speed consist of a deck mounted to seal aluminum floats<\/li>\n<li><a href=\"https:\/\/project-011.com\/?p=1716\">Houseboat Insurance<\/a> &#8211; Large, usually flat bottom water craft that are permanently moored as residential properties<\/li>\n<li><a href=\"https:\/\/project-011.com\/?p=1710\">Classic\u00a0Boat Insurance, Vintage &amp; Collector <\/a>&#8211; Insurance especially for well maintained or restored older boats of venerable designs.<\/li>\n<\/ul>\n<p>Many homeowner policies have the flexibility to insure boats but I usually suggest that <strong>boat insurance<\/strong> be obtained\u00a0separately from home insurance property.\u00a0 Part of the reason is the limitations that homeowner policies place on the type and size of boats that are acceptable, but home policies do not specifically include coverage for salvage costs, wreck removal, pollution and environmental consequences.\u00a0 There is also the potential to territorial limitations to where you can use your boat when it is insured on a homeowner policy form.\u00a0 By the time we get done considering some of the potential problems with boats insured on homeowner policy forms, we get back to the real question and that is, what kind of <strong>boat insurance<\/strong> coverage should a boat owner buy for their needs?<\/p>\n<p>Insurance for boats are underwritten to a large extent by the operator driving record.\u00a0 If you have a less than stellar record on auto insurance, expect higher rates on your <strong>boat insurance<\/strong>.\u00a0 It isn\u2019t beyond the realm of reason to expect some people cannot buy <strong>boat insurance<\/strong> at the best rates with any significant driving or\u00a0claims history.\u00a0 After we get past the operators our underwriters have real concerns with things like the age of the boat, length, insurance value, speed and horsepower, condition, how it is used, has it been modified, how many owners, and where it will be operated.\u00a0 Some boats, based upon these and a combination of these factors, may require a boat survey and this requirement ranges from a simple questionnaire to a full-fledged inspection by a marine inspector.<\/p>\n<p>As <strong>boat insurance<\/strong> underwriters, we are always keen to identify the additional hazards in the boat, operators, or environment it is used so expect underwriting to be tighter than on auto insurance.\u00a0 The types of coverage that can be obtained is also going to vary based upon the type of boat and the value of the boat.\u00a0 Most <strong>boat insurance<\/strong> limits will be based upon the \u201cactual cash value\u201d or the depreciated value at the time of the loss.\u00a0 The other most prevalent method of valuation is what we refer to as \u201cagreed value\u201d and agreed value coverage provides protection to the boat at the amount stated in the policy documents.\u00a0 There is no depreciation subtracted or considered from the loss and this form of coverage is more expensive but gives a great degree of certainty that the boat value paid will be set.\u00a0 As your boat ages there may be a time when the boat underwriter will insist upon coverage based upon ACV rather than the \u201cagreed value\u201d.<\/p>\n<p>In determining the amount of <strong>boat insurance<\/strong> to purchase, we separate the hull from the motor and consider the value of each separately.\u00a0 We usually specify these separate values on the insurance documents.\u00a0 We then should consider the permanent equipment that stays with the boat.\u00a0 Some examples of this type of equipment include fishing outriggers, radio navigation equipment, and similar devices.\u00a0 These can be added to the hull and motor values when endorsing the <strong>boat insurance<\/strong> policy. The perils most often used for <strong>boat insurance<\/strong> policies are usually referred to as comprehensive coverage and collision is added to the comprehensive rather than specify it as a separate peril as we do with auto insurance.<\/p>\n<p>Like auto insurance, we will need to include boater\u2019s liability coverage on your <strong>boat insurance<\/strong> policy.\u00a0 We then may also have to specify whether liability is included for towed skiers.\u00a0 Uninsured boater insurance is available and is a good recommendation for coverage and it acts similar to the uninsured motorist coverage on a personal auto policy.\u00a0 Towing coverage is also available when you need assistance returning to a dock, slip or place of mooring.<\/p>\n<p>With <strong>boat insurance<\/strong>, territory is generally restricted based upon the predominate type of navigable waters where you usually operate. \u00a0 We also use territory to help generate a rate on <strong>boat insurance<\/strong> policies. \u00a0You may also be restricted to the distance from land on ocean navigation, be restricted to USA water areas (usually within 12 miles of shore), and restricted from travel in Mexican or the water territories of other countries like Canada or Caribbean nations.<\/p>\n<p>In <strong>boat insurance<\/strong> rate making, boats are characterized also by their propulsion systems.\u00a0 Of course, sailboats use wind to move the boat except when precise control is needed. \u00a0Then sailboats rely upon small pusher motors.\u00a0 But there is also other types of engine drive systems.<\/p>\n<ul>\n<li>Outboard motors \u2013 Motors are not inside the hull but hang on a transom at the rear of the boat.\u00a0 The engine and drive system (prop) is external to the hull.<\/li>\n<li>Inboard Outboard systems (I\/O) \u2013 The characteristics of an I\/O system is the engines are mounted inside the hull and the outdrive-transmission is outside the hull below the transom area.<\/li>\n<li>Inboard Engines of Gas and Diesel \u2013 The engine and drive systems are largely inside the hull except for the prop system.<\/li>\n<li>Water Jet propulsion \u2013 A marine jet drive propulsion system draws in water under the boat and expels in at the rear of the watercraft to generate propulsion from the stream of water ejected by the nozzle in the drive system.\u00a0 This is the drive system in most jetski PWC type boats.<\/li>\n<li>Pod Drive systems \u2013 Pod drive systems are relatively new and are most similar to Inboard watercraft where the engine and transmission are inside the hull.\u00a0 Pod systems provide greater maneuverability because the thrust system can be directed under the watercraft.\u00a0 Because of design considerations these systems provide a highly efficient horsepower to thrust ratio and often are navigate-by-wire systems that are often controlled by sophisticated electronics.<\/li>\n<\/ul>\n<p>I have spent much of my life within an hour or two of the Great Lakes in Michigan and Ohio.\u00a0 I have been around boats all my life and find the allure of a peaceful weekend or early morning fishing to be a reward for working hard every day. \u00a0In the Midwest we are blessed with great natural resources for boating and recreation and I stand ready to assist you in your <strong>boat insurance<\/strong> questions and insurance needs. \u00a0You can reach me Monday through Friday, from 9-5 most days for your questions at (513) 779-7920. \u00a0Other hours by appointment, and of course, I&#8217;m available 24 hours a day for emergencies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boat Insurance Coverage &#8211; Pleasure Watercraft Boat insurance is known by a couple of different names.\u00a0 Boats are known more for how they are used than whether they were designed to float on water.\u00a0 For example, pontoon boats are a style of boat.\u00a0 So is a runabout.\u00a0 Bass boats are another kind of boat and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":17,"menu_order":5,"comment_status":"open","ping_status":"open","template":"tpl-boat-insurance.php","meta":{"footnotes":""},"class_list":["post-24","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/project-011.com\/index.php?rest_route=\/wp\/v2\/pages\/24","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/project-011.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/project-011.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/project-011.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/project-011.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24"}],"version-history":[{"count":20,"href":"https:\/\/project-011.com\/index.php?rest_route=\/wp\/v2\/pages\/24\/revisions"}],"predecessor-version":[{"id":2008,"href":"https:\/\/project-011.com\/index.php?rest_route=\/wp\/v2\/pages\/24\/revisions\/2008"}],"up":[{"embeddable":true,"href":"https:\/\/project-011.com\/index.php?rest_route=\/wp\/v2\/pages\/17"}],"wp:attachment":[{"href":"https:\/\/project-011.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}