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Organization reminds of ‘myths’ about boat insurance

BoatU.S. says many boaters and anglers might be surprised to know the important details about their own boat's insurance policy. The national organization of boaters has issued a press release "debunking" two common myths about boat insurance to help boaters choose the right coverage and become more informed consumers.

  • If you understand home or auto insurance, you'll understand boat insurance: Not true with boat insurance, because each company can include or exclude whatever coverage it desires. That means that one company's policy could cover damage if your boat sinks, for example, while another could exclude the same loss attributing it to simple "wear and tear."
  • Most companies that specialize in boat insurance have similar coverage, so it's best to shop on price: All policies are not the same, so the first task is to review the "exclusions" to see what losses are not covered. The second task is to then see if the policy has a provision to add back "consequential damage" coverage - the "consequences" of a loss that was the result of wear and tear, deterioration, rot or corrosion. Lastly, some boat policies limit salvage coverage or combine salvage expenses with other repair expenses with those of the claim. This means if a boat sinks and the combined cost of salvage and repair surpasses the policy's limits, they'll be on the hook for the rest.

For information on boat insurance or to ask any questions, call the BoatU.S. Marine Insurance Department at (800) 283-2883. To get a free quote online, go to