Wednesday, April 18, 2012
New Boat or Jet Ski? Here are some tips to get it insured
Summer is almost among us...If you got a new boat or jet ski you probably have thought about all the ways you can use it during the year, but have you thought about insurance?
When insuring your boat and jet skis, there are many lengthy questions that you may not know, unless you know a lot about boats. Almost all boat insurance policies will cover the cost of replacing the vessel, engine and the boat trailer but Actual Cash Value boat insurance plans only pay for replacement less any vessel depreciation from the point of loss. When the craft is a complete insurance right-off then the second hand value of the boat is used to estimate its market value. Optional insurance usually includes coverage for reasonable repairs, emergency services to your boat, motor, or boat trailer, and wreck removal. Where there has only been limited damage to the vessel, partial damage repairs include the restoration less any items that can be deducted.