Boat Insurance

If you love taking your boat out on the water or you’ve recently purchased your first boat for just that purpose, it’s important to have boating insurance that will cover this recreational vehicle. However, as you look into things further, you may find that boating insurance isn’t really like the home or auto insurance policies you’ve purchased before. Here are three things you should keep in mind when purchasing boat insurance:

1. Know Where Your Boat Can Go – If you’re planning on keeping your boat for outings on Lake Hickory and Lake Norman, you’re probably all set with your boat insurance. However, if you want to take your boat down to South Carolina or Florida for a coastal fishing expedition, you need to know if you’ll be covered.

2. Land vs. Water – Did you know that your boat insurance policy only kicks in when your boat is on the water? If you are towing your boat from one location to another, your auto insurance policy would cover any damaged caused or received to your vehicle. Knowing when you are covered and how much coverage you have can make a difference in the way you build your boating and auto insurance policies.

3. Value Your Asset – Just like a car, your boat depreciates once it has been purchased. You may find yourself trying to determine how much boat insurance you should buy based on the market value. However, you may want to discuss whether choosing an “agreed value” boat insurance policy will provide the coverage you need without worrying about depreciation, especially if you are purchasing an older boat.

At First Security Insurance, we can help you determine what kind of boat insurance policy will work best for you and provide you with the coverage options needed to secure this fun recreational vehicle. Contact us today to learn more about how we can work with you.