Not all water-faring vessels are created equal. Each type of craft has its own set of operating, storage and use factors that lead to variations in insurance concerns. Sailboat owners have a unique set of considerations when it comes to ensuring they and their craft are covered in the event of accidents or incidents.
The Right Information for the Right Insurance
Be sure you have the necessary information before you inquire about insurance options. There are different coverages available depending on where, how often and how you intend to use a boat. Storage locations are a factor, as there are variations in risk exposures between on-land storage facilities, home storage and docking. It is also important to know what the agreed value is for your vessel, including all rigging components. Additional sailboat insurance considerations that will affect your plan include:
- Additional operator considerations
- Licensing restrictions and requirements
- Safety regulations for older crafts
- Discount options for completing safety and training courses
With the above information, you will be able to work with your broker or agent to ensure you have the right insurance to meet your needs at a price you can afford. Sailboat policy options can include property and liability coverages for personal property, personal and third-party liability, and uninsured-boaters liability, giving you the protection you need to fully enjoy your time on the water.