8 Must Knows About Recreational Boat Insurance

By Matthew Pawlina

Recreational boats are owned by many and just as cars are covered by insurance recreational boats too need insurance that protects the boat and its owner from many unforeseen happenings; accidents, natural disasters, willful damage and more.

Most 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 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 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 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.

5. Find out the advantages of higher deductibles and payment of annual premiums. Always check online what is on offer as far as recreational boat insurance is concerned.

6. Update your knowledge on what comprehensive boat insurance should contain. Find out what physical damage and liability mean. As a recreational craft owner you need to take informed decisions when purchasing boat insurance.

7. Take the help of an insurance expert to decide on whether agreed value is better or actual cash value. It is important to understand what insurance terminology means before purchasing an insurance policy for a recreational boat.

8. Always read the policy in minutest detail and understand it completely. An insurance policy must work to your advantage and so it is important for you to know what you are paying for.

The World Wide Web has articles and tips on marine insurance written by experts as well as boat owners. Be an informed boat owner and keep abreast about boats, insurance, and savings. Follow the law and maintain your boat well. Take recommended courses and ensure that your boat driving record is above reproach. Small steps will ensure that you are eligible to buy recreational boat insurance at great discounts.

There are recreational boat owners associations like Boat US that offer tips and other facilities to members. Always comparison shop this will give you great advantages. There are websites for buying boat insurance that have online tools that will give multiple quotes and well as easy comparison. Make use of such directories /platforms online and you will be able to get the best insurance coverage for your recreational boat.

Matthew Pawlina is a writer for Boat Insurance Company , the premier website to find, boat insurance company, boat insurance, boat insurance quote, insurance boat auction, online boat insurance, power boat insurance, marine boat insurance and many more.

Insurance Brokers - Are They Your Best Ally?

By Glenn Selby

So many insurance options out there for auto, home, life, health... you name it. How do you know where to go or who to talk to about everyday insurance? Well, before you call "1-800-FACELESS" or log on and visit "whoareYOU.com," you may want to consider contacting an insurance broker.

Just like mortgage brokers shop various lenders to find the best rates for your home mortgage, an insurance broker shops various insurance carriers (companies) to find not only the best rates, but the best value for the protection you need. In fact, many carriers will differ in the area of discounts, and an insurance broker can sift through all of that for you at no charge.

Interesting facts about insurance brokers vs. insurance agents:

Insurance Company Agent:

-In the event of a claim, the agent of the insurance company REPRESENTS THE COMPANY.

-Insurance company agents can only offer THEIR COMPANY'S PRODUCTS in most cases.

-If you are ever dissatisfied with a particular carrier, YOU HAVE TO START SHOPPING ALL OVER AGAIN to find another one.

Insurance Broker:

-In the event of a claim, THE INSURANCE BROKER REPRESENTS YOU - THE CUSTOMER!

-Insurance brokers do the shopping for you to find the products that match your needs at the best rates. And, BROKERS KEEP YOUR BEST INTERESTS IN MIND, notifying you of new products that may best suit your needs as they become available. Even if you have to change carriers, your broker can handle that for you WITH VERY LITTLE EFFORT ON YOUR PART.

-An insurance broker has the resources to SHOP FOR YOU - without you having to provide all of your information again. Simply make your broker aware of any changes needed.

If you're looking at on-line companies that show you rates of other carriers compared to their rates, be sure to ask how they obtain those rates of other carriers. In some cases you may discover that the "rates" of the other companies is simply an average for customers in your classification. If you want to compare other carrier's rates to match your exact needs, you'll need to get separate quotes from each carrier yourself.

The good news is, you don't have to. That's what an insurance broker can do for you. The only down side may be that a broker won't be able to get quotes from every carrier out there. But if the broker does his/her job well, he/she will be able to compare a number of reliable carriers and present you with the best value according to your needs.

So in the end you need to decide how many insurance agents you want to talk to, and how much time you have to spend answering the same questions over and over and then comparing quotes to obtain the best value for your money. Or, do you want to talk to one insurance broker, answer all those questions once, and have the broker do the shopping and comparing for you. If your time is valuable - and whose isn't! - you may want to consider the latter. Just make sure your broker understands your needs and the ability to represent interests. As you develop a trusting relationship with your broker, you can rest assured that your broker has you covered... literally.

Sward Insurance Services is a full service insurance broker for North and South Carolina, providing products for auto, home, motorcycle, boat, RV, rentals, commercial, and employee benefits. For more information and how Sward Insurance Services can help you, call 704-708-4881 or visit http://www.swardinsurance.com