Why Boats Are A Pleasure
But You Still Need Boat Insurance
One of the greatest pleasures that a man can have is owning his own boat. It goes back to the days of adventure on the high seas when a man was absolute monarch of his realm as a captain of his ship.
Today there are very few places that the average man can be master and commander of his own destiny. But owning a boat is not without risk or expense.
At one time cannons and carronades protected the owner and captain from loss. Today it is boat insurance that protects a man from loss. It might seem like a small thing but boat insurance is essential to protecting an asset that you might have worked your entire life to own.
The average cost of boat insurance
Typically, in the US plan on spending anywhere from $300 to $500 (or more) per year on boat insurance depending on several factors, including the size and type of boat, how much it costs, and the amount coverage you want.
Boat insurance coverage jargon to watch for includes "named peril policy" (which is cheaper coverage on specific incidences like boat crashes or acts of God) or all risk policy (that amounts to more total umbrella coverage of any type of accident or injury.)
Note that the premiums for boat insurance can be lowered by having related safety devices on board - like a navigation system, ship to shore radio, or depth finder. The successful completion of a boat education course can also contribute to getting discounted rates on boat insurance.
Similar to buying car insurance, it's always best to shop around, compare rates, or ask your insurance agent for quotes.
What boat owner hasn't dreamed of sailing to the
Sea of Cortez? But you need to have the assets to enjoy that leisure. Also even in the most peaceful of times boating entails some risk. That is why boating insurance is an absolute necessity.
Owning and operating a boat correctly requires the skill, desire, and time to care for her correctly. It also requires the wherewithal, assets and boat insurance to protect what you have.
It makes no sense to gain your heart's desire and then to lose it in a storm
or to bad navigation. Even if you survive without harm losing your boat can be devastating -- so protect what you have.
About the Author... John Edwardson has been a keen sailor for many years. He's owned a variety of different boats. Boat insurance has always been a minefield, and he imparts his long experience in a series of articles to help & advise other boat owners.