Boat Insurance
Boat US recently provided the information below in regards to purchasing boat insurance. We found the information to be helpful and wanted to pass it on to our readers.
NEWS From BoatU.S.
Boat Owners Association of The United States
880 S. Pickett St., Alexandria, VA 22304
BoatU.S. News Room at http://www.BoatUS.com/news/releases.asp
FOR IMMEDIATE RELEASE
Press Contact: Scott Croft, 703-461-2864, SCroft@BoatUS.com
TIPS ON BUYING FISHING BOAT INSURANCE
FROM THE NATION’S LARGEST ASSOCIATION OF RECREATIONAL BOATERS
ALEXANDRIA, VA, April 17, 2008 – BoatU.S. Angler is a membership program that’s part of the nation’s largest association of recreational boaters whose mission is to protect the interests of boat-owning freshwater anglers. With that in mind, it recommends that anglers should ask these five questions when shopping for insurance for their fishing boats:
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Do you need an “actual cash value” or “agreed value” policy? If you have a claim, actual cash value policies take depreciation into account when reimbursing for a loss. For example, if your 12-year-old bass boat is totaled, you will be reimbursed for its current market value. Actual cash value policies are generally the less expensive option. On the other hand, agreed value policies are more expensive, but pay for repairs or replacement up to the value stated on the policy - except for a few specified items - regardless of the age or condition of the boat or equipment.
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Is my fishing gear covered? Any fishing boat insurance policy should automatically include some type of coverage for expensive tackle. If the boat is trailerable and used in freshwater, you may find a policy that includes this coverage without any additional cost.
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What is the fine print on using towing services? Some fishing boat insurance policies include on-the-water towing or roadside assistance service. The problem is that when you need to call upon these non-emergency services - such as an on-the-water gas delivery, a tow back to the l