If you love being out on the water, buying a boat can be an exciting time in your life. They say the two best days of owning a boat are the day you buy it and the day you sell it. I guess that could be true if you end up not using your boat that much. If you are fortunate enough to use your boat on a regular basis, there is nothing like spending time on the water with the sun on your face and the wind in your hair and just enjoying the activities that make boating so much fun.
Of course buying the boat is the first step but then you need to secure a good Clermont boat insurance policy. That is where the professionals at Southern Insurance come in. Because we are an independent agency, we will shop the marketplace for your best pricing on boat insurance.
How is an independent insurance agency different that a captive insurance agency you ask? An independent agency typically has numerous outlets for boat insurance in Clermont and can find the right carrier that specializes in your style boat thus usually finding you the best pricing. A captive on the other hand is like a State Farm Agency who only writes through their one carrier brand. Captives usually never have more competitive markets than the independents because they have limited markets for writing your boat.
What is covered under a boat policy?
A typical Clermont boat insurance policy will provide the following coverages:
- Bodily Injury Coverage-this provides protection for the policy holder in the event that you cause an injury to a 3rd party for a boating accident. It will defend you from a suit and pay to the 3rd party for injuries up to the policy limits.
- Property Damage-any property damage that is created as a result of your fault in a boating accident will be paid on behalf of the 3rd party up to the policy limits.
- Uninsured Motorist coverage-If a 3rd party causes an accident with your boat, this coverage will pay out for your injuries and pain and suffering if the other party has no boating insurance.
- Medial payments-this coverage can be paid for accidents and injuries sustained to guest on your boat.
- Comprehensive coverage-this pays for damages to your boat from covered perils such as fire, theft, vandalism and acts of God to name a few.
- Collision-pays for any damage to your boat whether or not it is your fault. if you end up filing a claim under your boat insurance policy, your policy will payout up to your coverage value less your deductible.
- Towing-this coverage will provide towing coverage up to the towing limit in the event that you boat is disabled and requires a tow.
- Personal effects-this provides coverage for personal belonging that you may have on the boat that will not be covered under the boat policy. this could include fishing poles and equipment, cameras etc...
- Deductible-this is that part that you will need to pay before your boat is repaired. Note that this deductible does not come into play for bodily injury, property damage, uninsured motorist coverage, medical payments and towing charges. It is strictly for your comprehensive and collision coverages under your boat insurance policy.
A boat is likely one of the more expensive investments in your life, right after your home and/or car(s). So, although boat insurance isn’t mandatory, it’s important to get your ducks in a row before you launch.
Call your mates at Southern Insurance Group or drop us a line before you get into choppy waters, and you’ll have happy sailing (and peace of mind, too). Here are a couple of things to consider as you buy your new or used vessel:
Don’t rely on your homeowner’s insurance to keep your boat afloat
One of my neighbors who lives on the lake in Clermont in my neighborhood found out one Sunday morning that someone took his brand new Yamaha 150 hp off his boat the night before. If you own a boat you know that the motor a lot of times is about half the price of the entire boat so this was a big ticket theft. he normally puts a lock on his motor to the ground so that this type thing would not happen but as luck has it he got sidetracked after using it on Saturday and forgot to put the lock on the motor.
Let's say he let his boat insurance policy lapse, would this be something that would be covered under his homeowner policy under his contents? Unfortunately not as most homeowner policies have a limitation for theft for motors over 25 horse power. Fortunately for him, his boat insurance policy was still in force and all he had to pay to get his engine replaced was his 250 dollar comprehensive deductible. Insurance fortunately allows you to learn a valuable lesson without having to suffer financially in the meantime.
some boat owners may assume that their boat is covered under their homeowner's insurance policy. But in fact, there is only limited coverage ($1,000-$1,500 depending on the insurance company) for damage to a boat on your homeowner's policy. And, generally, the loss must occur at your home.
Damage to your boat that occurs while you are launching the boat or when you are out on the water would not be covered by your homeowner’s policy. And, more importantly, liability protection in the event someone is hurt or some property is damaged by your negligent operation of your boat is not covered by your homeowner’s policy (with exceptions for small boats that have an outboard motor 25 horsepower or less.)
The solution is a Boat Insurance Policy.
Boat insurance not only covers damage to your boat in and out of the water, but it also provides liability protection in case you are responsible for injury to swimmers, water skiers or other boaters or damage to another boat, a dock or the environment (due to fuel spillage). In addition, boat insurance provides no-fault medical payment coverage for accidental injuries to the passengers on your boat.
Call Southern Insurance Group for a hassle-free boat insurance quote 352-243-9000. It’ll be fast and easy, and it’ll give you the peace of mind knowing that you and your boat are adequately covered.
Coverage for your boat while in transit
When hauling your boat to a different location whether it is to enjoy a new lake or you just need to take you boat in for service, the fear of your boat having a flat tire or the itch coming loose is always a fear in the back of your mind. That's why if you are a prudent boat owner you may check everything 2-3 times before you actually make your trip.
But what happens if the worse case situation does occur? What is your boat comes loose or you have a flat which causes your boat to become unstable thus coming off the hitch and striking another vehicle? How would your coverages apply? Would you boat policy pay for the damages or your car policy? Actually boat policies would pay in this case. let me explain why.
When you tow a boat or trailer the liability coverage under your car policy will apply for any bodily injury or property damage that is created from the boat. Getting the actual boat fixed would fall under the collision coverage under the boat policy for the damages to only the boat. if you also have damages to the vehicle, then the collision deductible would apply under the car policy to get the vehicle fixed.
The bodily injury coverage under the boat is only going to come into play when the boat is in the water and created any bodily injury or property damage.When the day comes that you find and buy your boat, just call us to confirm the boat specs and we can complete an application over the phone so that you can start enjoying your new boat right away, while safely towing it home.
Easy boat insurance and peace of mind with Southern Insurance Group. That’s what we’re here for.
Coverage for the people on your boat
This coverage is very important on a boat insurance policy in Clermont as people always get crazy on a boat when it comes time to water ski, tube, or knee board. On the lake that I live on, we used to pull two tubes at the same time and have tube fights to see who could knock the other person off their tube. Did anyone get hurt, not that I recall but of course the opportunity was there for it to happen. What is someone did get hurt? Well, if you carry medical payments under your boat insurance policy then it would cover such events for the injuries that occurred.
This coverage could apply if someone slipped on the boat and hurt themselves or any other injury that was sustained as a result of being on the boat. One of my friends growing up lost a front tooth from a ski coming off and somehow hitting him in the mouth. His dental work was pretty expensive to put in a false tooth with a bridge. I have noticed that far too many people reject this coverage from their policy to get their premiums lower. I strongly disagree with this approach.
Good News! A boat insurance policy will provide liability and medical payment coverage for the people that are aboard your boat, or that you are towing on water-skis, as long as you aren’t participating in a competition. So, as long as you thought ahead and talked with your agent here at Southern Insurance Group, you'll have the peace of mind to know that you're adequately covered.
Storing your boat at a marina
Storing your boat at a marina can be a very nice set up as when you get ready to go on the water all you have to do is venture down to the marina and off you go. Because of the close proximity of the other boats and the potential for someone to cause damage to another boat, most marinas will require 500,000 of liability coverage protection before they will rent you a mooring space.
Check with your marina for more information, and call your team at Southern Insurance Group for the hassle-free boat insurance you need in order to safely moor your boat there.
Discounts for your boat insurance
All your questions and concerns with you buying and owning your boat are what we do best. We will help you find the right insurance policy through our multiple carriers and will review all the available discounts that you will be entitled to from boater's safety courses, prior boating experience credits, full pay discounts to name a few.
Well, a great way to start is to call your insurance agent at Southern Insurance Group. We specialize in all your personal insurance needs, and that includes boat insurance!
We may not win a fishing derby, but we sure know how to catch you all the discounts you deserve on your boat insurance!
There are a variety of ways to lower your boat insurance rates:
- Make a good choice on the type of boat that you are going to buy. Choosing safety over performance will keep your rates lower.
- Also, the value of the boat will make a difference. The higher the boat’s value, the higher the premium.
- Many companies will offer a discount if you take and complete a boating safety course. This will help you make the right call in a critical situation.
- Most companies also offer “new hull” discounts and “claim-free” discounts.
If you’re looking to buy a boat or if you already own one, stay afloat with Clermont boat insurance from your team at Southern Insurance Group. We’ll track down every available discount to assure that you receive the best value for your boat insurance investment. Give us a call today 352-243-9000, or visit our Insurance Quotes page through the menu above to request a quote online.