(NAPSI)-They don't believe in the Loch Ness Monster. They don't believe a friend caught Jaws fishing off the Florida coast. Yet some boaters think adding their boat to their homeowners policy protects them from all the incidents that happen on the water.
Leading boat insurer Progressive clears up those myths and shares tips so you have the information you need to choose the right insurance for yourself and your boat.
Myth: If I list my boat on my homeowners insurance policy, it's fully protected.
Fact: In some cases, you might cover your boat by adding it to your homeowners policy instead of buying specialized insurance. But specialized boat policies cover many incidents that a homeowners policy might not. For example, coverage available from Progressive will pay to clean up the spill if your boat leaks fuel, and pull your boat out of the water if it sinks. Homeowners policies won't provide that level of specialized coverage.
Getting stranded on the water can make for a long, expensive day, so consider buying specialized insurance to get towing coverage, too.
Myth: Boat insurance won't cover my fishing equipment if it's stolen.
Fact: With specialized boat insurance, you have the option to also cover personal belongings such as fishing equipment, cell phones and binoculars. So when you're buying your policy, review available optional coverages.
Myth: Specialized boat insurance is expensive.
Fact: A Progressive boat policy starts at around $100 and can provide more coverage than if you added your boat to your homeowners insurance.
Myth: Boat insurance covers me anywhere I go boating.
Fact: Some insurance companies only provide coverage where the boat is used most, and may limit coverage to within 100 nautical miles of your home port. Progressive provides coverage virtually anywhere you decide to go in the continental U.S. and Canada.
วันเสาร์ที่ 20 มีนาคม พ.ศ. 2553
Canceling boat insurance policy can be costly
I want to alert boat owners about a certain clause in boat insurance plans that I just stumbled across this past week. I was told by my agent that this clause is put in place by the majority of, if not all, insurance companies.
I had my boat insurance through Allstate Insurance and decided to cancel my policy due to better pricing with a competitor. Back in December, I paid for a full year of coverage. When I changed insurance companies, I received a check from Allstate for a little less than half of my annual premium.
I contacted my agent and was told that recreational vehicles (boats and motorcycles) are front-loaded, whereby the insurance company charges you more in the beginning months of your plan year than in the final months.
Therefore, in my case, I was charged for six months of coverage when I only received three months.
This is just another way for insurance companies to take advantage of the consumer, meanwhile reporting record profits. I hope one of our state or federal representatives will read this letter and do something about it.
In the meantime, boaters, beware when you are canceling your boat insurance policy.
Larry Jock
I had my boat insurance through Allstate Insurance and decided to cancel my policy due to better pricing with a competitor. Back in December, I paid for a full year of coverage. When I changed insurance companies, I received a check from Allstate for a little less than half of my annual premium.
I contacted my agent and was told that recreational vehicles (boats and motorcycles) are front-loaded, whereby the insurance company charges you more in the beginning months of your plan year than in the final months.
Therefore, in my case, I was charged for six months of coverage when I only received three months.
This is just another way for insurance companies to take advantage of the consumer, meanwhile reporting record profits. I hope one of our state or federal representatives will read this letter and do something about it.
In the meantime, boaters, beware when you are canceling your boat insurance policy.
Larry Jock
วันศุกร์ที่ 29 มกราคม พ.ศ. 2553
The right boat and yacht insurance cover for when tragedy strikes
It’s always distressing to hear about the tragedies that occur near Christmas and the New Year and, unfortunately, this time of year brings many cases of theft. Whether this is in the home, of a car or boat, without the right insurance cover there is the added cost of repair and replacement. Insure My Boat specialise in providing a variety of boat insurance including, narrowboat, dinghy and yacht insurance to help people protect their belongings against such crime.
There has been recent news just before Christmas about a boat theft on the Isle of Wight which has led to the call for any witnesses to come forward. Descriptions of the boat have been given and those companies within the boating industry are helping with the investigation, Insure My Boat being one of them.
Of course as much as this is distressing, it does highlight the importance of boat and yacht insurance regardless of what vessel you own. With so many different types of insurance out there it’s important to know of companies that provide a variety to choose from to ensure that you are fully covered at the best price possible.
“Insure My Boat provides a service which enables people to efficiently find the cover they need without the hassle of searching for hours. Our website allows people to find the right insurance they need at a click of a button so they can rest assured should incidences occur, we have provided the right cover for them.” David Quick. MD
The ongoing recession has meant that many people have struggled this Christmas and therefore are looking for cheaper alternatives to reduce outgoings. With this in mind, Insure My Boat pride themselves on providing a service that ensures people don’t have to reduce their spending on necessities such as insurance.
Unfortunately, the recession has also meant that theft has increased and there are many people that are being victims of crime. With this in mind, its essential people are aware of where they can turn to get the right cover they need to be able to claim should incidences occur that cannot be predicted.
No one likes the thought of their belongings being stolen or vandalised but reality shows that it does happen and people need to be prepared. Of course, insurance is essential and with Insure My Boat you can ensure that your yacht and boat is covered to your requirements.
There has been recent news just before Christmas about a boat theft on the Isle of Wight which has led to the call for any witnesses to come forward. Descriptions of the boat have been given and those companies within the boating industry are helping with the investigation, Insure My Boat being one of them.
Of course as much as this is distressing, it does highlight the importance of boat and yacht insurance regardless of what vessel you own. With so many different types of insurance out there it’s important to know of companies that provide a variety to choose from to ensure that you are fully covered at the best price possible.
“Insure My Boat provides a service which enables people to efficiently find the cover they need without the hassle of searching for hours. Our website allows people to find the right insurance they need at a click of a button so they can rest assured should incidences occur, we have provided the right cover for them.” David Quick. MD
The ongoing recession has meant that many people have struggled this Christmas and therefore are looking for cheaper alternatives to reduce outgoings. With this in mind, Insure My Boat pride themselves on providing a service that ensures people don’t have to reduce their spending on necessities such as insurance.
Unfortunately, the recession has also meant that theft has increased and there are many people that are being victims of crime. With this in mind, its essential people are aware of where they can turn to get the right cover they need to be able to claim should incidences occur that cannot be predicted.
No one likes the thought of their belongings being stolen or vandalised but reality shows that it does happen and people need to be prepared. Of course, insurance is essential and with Insure My Boat you can ensure that your yacht and boat is covered to your requirements.
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