Benefits of a Specialized Boat or Personal Watercraft Insurance Policy

Benefits of a Specialized Boat or Personal Watercraft Insurance Policy Welcome, dear visitors, to your educational and cultural platform (eklil almarfh). We welcome you among the flowers of creativity and the nectar of brotherhood. And we hope that your visit to the platform will be of benefit and achieve the required purpose of the visit.
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Coverage that is not available when a boat or personal watercraft is added to a homeowner’s policy is what can be offered along with competitive rates, broad acceptance and specialized coverage for boat and personal watercraft (PWC) owners.

These policies can include:

• Consequential sinking, explosion, burning o r collision caused by wear and tear, latent defect or mechanical breakdown.

• Subject to local customs as long as the boat is winterized according to the manufacturer’s specifications, freeze damage to the boat and engine(s).

• No charges for betterment or depreciation. Example, a six-year-old bimini top is torn off during a windstorm; it will be replaced with a new one rather than pay a small percentage of its original value.

Policy Features:

Agreed Value – Available on any boat eligible for Physical Damage coverage. In the event of a total loss, this pays the rating base regardless of the Actual Cash Value. Optional for full coverage policies. Protects against depreciation.

Total Loss Replacement – Available on newly purchased boats up to one model year old. In the event of a total loss, replaces the insured boat with a new boat. For the boats over five model years old. They pay the purchase price. Protects against depreciation and inflation.

Navigation – Coverage applies to all inland waterways and all bodies of water within 75 miles of the U.S. and Canada; 125=miles navigational limit endorsement.

Environmental damage – Fuel spill and wreckage removal coverage included with all policies.

Roadside Coverage – Covers breakdowns while the boat is in tow- even if the tow vehicle isn’t the insured by the insurance carrier.

Watersports activities, waterskiing, wakeboarding – included with Liability and Med Pay coverages.

Replacement costs for the on-board items -Offers primary coverages for personal effects and fishing equipment.

Emergency on-water towing – Provides reimbursement for on-water towing and labor costs when the boat becomes disabled on the water.

Propulsion Plus – Provides coverage for the lower unit of an outboard motor and the upper and lower units of a stern drive motor, in the event of a mechanical breakdown, including those caused by wear and tear.

Disappearing Deductibles – Deductibles are reduced by 25 percent for each claim-free policy period. After four claim-free policy periods, the deductible is zero.

Small Claim Forgiveness – Premium doesn’t increase if a customer has one or more claims that require a payout of $500.00 or less.

Did you know that in the United States one in eight vehicle-owning households has a boat.

The median for PWC owners is 41 and for boat owners is 45to49.

The median income of PWC owners is $95,000.00 and for boat owners is $50,000 to $75,000.

Purchase of used boats make up 70 percent of the new boat policies.

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Source by Linda J Blakeney
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