There is an old adage related to watercraft that we have heard many times, and understand well: The happiest days of a boat owners life is the day they buy the boat and the day they sell the boat. As fun as they can be, boats and personal watercraft can be expensive to own and maintain. Here are some boat and watercraft insurance tips to help you save money on repairs and make sure you are covered properly:
Boat and Watercraft Insurance Tips
- Simple Maintenance Can Save Big. A little maintenance can save a lot of money over the long run. For example, replace the raw water pump impeller every year or two. This small rubber part provides vital cooling water to the engine. It is inexpensive to replace but neglecting it can lead to an overheated engine and costly repairs later.
- Pay Attention to Proper Storage. Simple things like removing the drain plug and leaving the bow and a slight angle up can prevent costly damage. Why? Boat covers sometimes leak or tear during wind storms. Water needs to drain from the bilge to prevent damage and odors. In Las Vegas, the intense sun can wreck the vinyl and fade carpeting in just a season or two. A quality boat cover will protect the interior from sun damage.
- Keep Your Boat Insurance Updated. Anytime to you make improvements to the boat, let your insurance agent know (hopefully that means calling our office). For example, if you have the interior recarpeted or add electronic accessories we may need to increase the insured value of the watercraft.
- Save Receipts for Personal Property. Most watercraft insurance policies include coverage for personal property such as fishing equipment, water skis, tubes, etc. Without receipts to establish the date of purchase the insurance company will value those items at the same age as the boat.
- When in Doubt, Call. Report claims promptly, even if you think the loss is minor. Liability claims can quickly turn into lawsuits and your insurer needs time to investigate and defend you. Property damage claims can turn out much larger than expected once the repair facility examines the boat. The bottom line is to notify us as soon as possible of any event that might later become a claim.
Boat Insurance Quotes
We hope these boat and watercraft insurance tips are helpful. Many of the team at Safeguard Insurance are boat owners and avid water skiers. We understand boat insurance and can provide you with a comprehensive policy at an affordable price. Contact us today for a no-obligation proposal!