Summer is here and the sun is out! Are you ready for a boat trip? First, stop and check your insurance coverage.
About 32% of Americans will enjoy an outing by boat this year.
If you are among this group, check out the following tips to protect you and your family to help prevent filing a boating claim.
- Simple maintenance can save big. A little maintenance can save a lot of money in the end. Did you know your raw water pump impeller needs to be replaced every year or two? It provides cooling water that keeps your engine from overheating—an inexpensive fix to keep you safe on the water.
- Pay attention to proper storage. Check out a storage facility or dock beforehand to insure the safety of both your vessel and personal belongings on-board. Take a little extra care when storing your boat by removing the drain plug from the hull and leave the boat at a slight “bow up” elevation to allow water to drain. Why, you ask? Storms can tear covers or blow them off the boat completely; while older or unsupported covers can allow water to pool and cause damage to engines and machinery.
- Make sure your policies are updated. If you have made major improvements, such as a re-power or refit to your boat, you could need additional coverage. Boat coverage has a limit of liability and pays only up to the market value or the agreed value of the boat, by endorsements. If a new engine is installed or upgrades are made, these items should be added to the value of the boat on your policy, as soon as possible.
- Save receipts for personal property. Keep a list of the items you store on your boat. Without receipts, the personal property will be valued at the same age as the boat, even if the boat is 10 years older than the items lost, in case of damage or theft.
- When in doubt, call your agent. Report claims promptly. Make sure you call your claim in as soon as you know the boat is damaged or a theft has occurred, no matter how minor the damage appears. Damage must be verified to document the claim, before you make any repairs. If there is an accident, take photos at the scene to provide visual proof of the damage.
Be prepared! An under-covered loss is a claims surprise that no one wants, and something we want to prevent.
As your insurance provider, we take your safety seriously. Our reminder to you–protect you and your family in and out of the water, be sure you are educated in boating safety.
Contact us with your questions or concerns. We are here to assist you, because you are our most important business!