Archive for the ‘Boat Insurance’ Category

postheadericon Insurance When Towing a Boat

Owning a boat is a fantasy come true for many people. Imagine yourself going out in the water anytime you feel like it or taking a vacation on a 20-foot yacht. All that sounds wonderful until you are out fishing, and the boat breaks down, making towing necessary. Then you learn about how much it will cost to tow it and wish you could drag it out of the water yourself. Now, a situation like this would not be that frustrating if you have insurance. Yes, it is possible to get insurance exclusively for your boat. However, how does towing factor in when an owner gets boat insurance?

On-Water Towing

First, it’s paramount to recognise that there are different types of towing. One is the one described above where a boat owner needs help while they are on the water. Most boat insurance providers offer coverage for towing and assistance, which is what applies in this situation. Boat-towing services can be quite expensive largely because of the strict regulations that govern the activity. Also, it takes a lot of skills to tow a boat out of the water. What happens is that if you have this coverage, the insurer reimburses the costs of getting towing services. The type of coverage will differ from one insurance company to another. Some cover emergency towing services, but others don’t. Understand that insurers view towing and salvage differently. Salvage recovery activities can be dangerous and may cost a percentage of the vessel.

Road Towing

The other type is road towing coverage. Imagine you are going on a vacation and need to bring the boat along, so you hook it to your car and get on the road. During transit, an accident occurs, and there are damages. What happens in this scenario? The auto policy covers a boat attached to a car. It means that you will receive compensation for any damage that results from an accident while towing a boat from your auto insurance. However, you must first check with your car policy to see what it says about towing coverage. Situations like these can be tricky, especially when the boat gets damaged as well. In such an instance, your auto insurance will cover damage to people or other property but not your boat. It means that the boat insurance will have to cover those particular damages. Most boaters get confused when it comes to road towing accidents, so it’s best to consult your auto and boat insurers for clarification.

Towing Limitations

Note that some auto policies will not cover damages after an accident if the boat is not attached. If you are going to haul your boat over a long distance, then know how to hitch it properly to the tow vehicle. You should also check the towing ratings on a particular vehicle because disregarding them can mean claim denial in the case of an accident. Some vehicles have limitations on the tow distance. When getting on-water towing services, make certain you find professionals. The last thing you need is the boat causing damage while being towed.

Choose Suitable Policies

After looking at all these variables, it is clear that getting boat insurance is crucial. The options are unlimited, so take the time to evaluate the best ones. Shop around and make comparisons. Some insurers offer discounts that you can benefit from. Ideally, think about the insurance before even purchasing the vessel. It will help you with elements such as the boat size, value, and type. If you know that insuring a £40,000 yacht is not an affordable endeavour, then you will start looking for something in a lower price range. The point is to make certain that when you do get that boat, it will have the necessary protection.  Click here for more information