Recreational boats are owned by many and just as cars are covered by
insurance recreational boats too need insurance that protects the California boat and its
owner from many unforeseen happenings; accidents, natural disasters, willful
damage and more.
Most California insurance companies offer insurance policies for recreational boats. And
these are mainly two kind's boat policies and yacht policies. Boat policies are
general with few options while yacht insurance policies have greater range of
options. As a California recreational boat owner you need to know which marine craft are
classified as recreational and what kind of insurance cover you will need to
protect your investment and passion.
Here are a few guidelines:
1. When buying insurance buy from a recognized company. You can buy recreational
boat insurance online too but while attempting to save money make sure you get
dependable and comprehensive coverage. General boat policies offer P&I coverage
of approximately USD 500,000 maximum.
2. When buying a recreational boat find out what costs of maintenance and
insurance will be. For example new California boats are cheaper to insure and wooden boats
and high speed vehicles are expensive. Similarly diesel powered boats cost less
in terms of insurance than gas powered boats.
3. Insurance rates are lower if you ensure that all safety regulations/norms are
taken care off.
4. Many California insurance companies offer competitive rates if you have other policies
with them like home, health, or auto. So the first step when buying a
recreational boat policy is to check with your existing insurance carrier.
