Owning a boat is a luxury that many look forward to. Whether it is a post-retirement pleasure craft or a more functional vehicle to be used for fun fishing expeditions, marine insurance should be used to protect the new toy.

1. Boat and Ship Protection
Owning a boat is a luxury that many look forward to. Whether it is a post-retirement pleasure craft
or a more functional vehicle to be used for fun fishing expeditions, marine insurance should be
used to protect the new toy. Protection on the water is necessary since the number and severity of
many hazards are very high when compared with other forms of transportation.
Marine insurance and boat insurance are a lot like car insurance. Marine insurance and boat
insurance protect the operator from the costs related to covered damages and liability claims.
Marine insurance is very flexible since it needs to cover a wide variety of water craft: from a
personal jet ski to a small trailer hauled boat to a large luxury yacht. Boat insurance can also be
written as simple liability coverage policy or as a full protection hull coverage policy. If the boat is
purchased on a loan, the lender may require hull marine insurance to be purchased until the craft
is paid off so that in the event the craft is damaged beyond repair, the lender can still get paid back
on the loan.
Hull marine insurance is a “full coverage” policy that includes both liability insurance and
insurance on the boat itself. This type of boat insurance is the most comprehensive available,
however riders for contents and cargo can be added, further extending protection. Hull marine
insurance pays to repair the damage done under covered hazards. These hazards that boat
insurance covers in a hull insurance policy include fire, sinking, fuel spills, and grounding. The
attached liability boat insurance policy will cover damage caused by your boat to property
belonging to others, such as another boat, and any bodily injury medical expenses up to the limits in
the boat insurance policy.
Once the boat is paid off, hull boat insurance is no longer required, however marine insurance
should not just be given up completely since the craft faces the same perils. A less comprehensive
liability marine insurance policy cuts out the hull marine insurance section to save money.
Liability marine insurance coverage still covers damage caused by the boat to other property,
including other boats and docking facilities, as well as bodily injury and medical expenses to any
passengers on the boat or other people hurt when the boat collided with something else. Liability
boat insurance can also cover the salvage of your boat in the event of a fire, sinking, fuel spills, or
grounding. For increased protection, dock liability coverage can be added as a rider. Dock liability
coverage protects from lawsuits resulting from damage at a dock or marina or other legal action
taken by a dock or marina against the owner of the boat.

2. Finding the best marine insurance for your water craft can be very time consuming since there are
so many factors that go into creating a boat insurance policy. Independent insurance agencies can
shoulder most of the workload by shopping for the best marine insurance with their partner
insurance providers. They have the ability to take the time to understand your situation and build
the best marine insurance policy for you and your water craft.
About Boardwalk Insurance: Boardwalk Insurance Group is licensed to write marine insurance
and boat insurance policies in over half the United States and has many other insurance solutions
available through its affiliated insurance providers. For More Details visit
http://www.boardwalkinsurance.com