Boat/Watercraft Insurance

Protecting Your Boat: Understanding Recreational Watercraft Insurance

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Do you own a boat near Lincoln, NE? If so, Brokers Insurance Agency believes understanding recreational watercraft insurance is essential to protecting your investment. Whether you’re a seasoned boat owner or just purchased your first vessel, having the right insurance coverage can give you peace of mind while on the water. 

Types of Recreational Watercraft Insurance

There are two main recreational watercraft insurance coverage types: liability and physical damage. Liability coverage protects you if you are found responsible for an accident or injury while operating your boat. This coverage will pay for any damages or medical expenses incurred as a result. Physical damage coverage, on the other hand, covers damage to your boat and any equipment onboard, including electronics, engines, and sails.

What Does Recreational Watercraft Insurance Cover?

Recreational watercraft insurance policies can be customized to meet your specific needs. Most policies cover the following:

  • Damage to your boat
  • Damage to other boats, docks, or property
  • Theft and vandalism
  • Injuries to passengers or other boaters
  • Towing and wreckage removal
  • Emergency assistance and labor costs

Why You Need Recreational Watercraft Insurance

While owning a boat can be a fun and rewarding experience, it also comes with inherent risks. Collisions, weather, or theft can damage boats, and accidents can occur anytime. Without insurance coverage, you could be left with a substantial financial burden in an accident or damage to your boat.

In conclusion, recreational watercraft insurance is essential for any boat owner living in Lincoln, NE. Whether you’re out on the water for a weekend getaway or a long-term trip, having the right coverage in place will give you peace of mind and protect your investment. Call or email Brokers Insurance Agency today so we can set you up with the right boat insurance.

What Are The Top Concerns People Have About Boat Insurance?

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When it comes to boat insurance, there are a lot of things to worry about. What if my boat sinks? What if I hit someone with my boat? What if there is an accident and I need to file a claim?

These are all valid concerns that people have when it comes to boat insurance. This article will discuss some of the top concerns people have regarding boat insurance.

1. How Much Will My Policy Cost?

This is one of the most common questions people have when shopping for boat insurance. The cost of your policy will depend on several factors, including the type and size of your boat, your boating history, and the coverage you choose. Brokers Insurance Agency in Lincoln, NE, can help you find the right policy for your budget.

2. What Does Boat Insurance Cover?

Boat insurance policies can vary, but most will cover damage to your boat, personal property on board your boat, and liability if you cause an accident. Read your policy carefully to know what is and isn’t covered.

4. Do I Need Boat Insurance?

In most states, you are not required to have boat insurance. However, if you have a loan on your boat, your lender will likely require you to have coverage. Even if you don’t have a loan, it’s a good idea to insure your investment.

5. How Can I Save on Boat Insurance?

There are a few ways you can save on boat insurance. One is to shop around and compare rates from different insurers. Another is to choose a policy with a high deductible. You can also get discounts for taking boating safety courses or belonging to specific boating organizations.

6. How Do I File a Boat Insurance Claim?

If you need to file a claim, the first thing you should do is contact your insurance agent. They’ll help you through the process and answer any questions you have. You’ll likely need to provide photos of the damage, a police report (if applicable), and other documentation.

Conclusion

Boat insurance is a significant investment, but it doesn’t have to be expensive or complicated. By understanding your options and shopping around, you can find a policy that meets your needs and budget. Brokers Insurance Agency in Lincoln, NE, can help you find the right boat insurance for your needs. Give us a call today.

Three things you didn’t know about boat insurance

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Buying boat insurance is important for watercraft owners. You need to do your research and find a boat insurance policy in Lincoln, NE that meets your needs. We can provide you with boat insurance at Richards Insurance Agency.

The following are three things you didn’t know about boat insurance that you should be aware of.

Home insurance won’t provide adequate boat insurance coverage.

Many consumers make the mistake of assuming that their home insurance policy is going to cover their boat. However, this is not generally true.

Your home insurance policy will definitely not cover your boat if you take your boat off your own property to use it. In this case, you’ll need to buy a boat insurance policy to enjoy the coverage. 

You need to consider add-on coverage.

There are many types of add-on coverage available for boat insurance policies. Some examples include coverage for fuel spill liability or salvage retrieval coverage. 

It’s important to familiarize yourself with the different add-on coverage types available. Then, you can determine which types of coverage you need. 

Boat insurance coverage is limited to certain areas.

You need to be especially careful when buying boat insurance if you use your boat far from home. That’s because boat insurance coverage is typically limited to certain geographic areas.

Make sure you read the fine print on your boat insurance policy. Your policy will probably only cover you if you’re within a certain radius of your home or home port. If you travel a lot and use your boat far from home, you may need to invest in added coverage. 

Get started today finding a boat insurance policy in Lincoln, NE. Contact us at Richards Insurance Agency with your questions and inquiries. 

Tips for new boat insurance buyers

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The price of a boat is not the only expense you should think about when buying a watercraft in Nebraska. Boat insurance, although not a requirement in Nebraska, is quite vital for any boat owner.

At Richards Insurance Agency in Lincoln, NE, we recommend making sure that your personal property and legal liability obligations are well protected every time you are in the water. Here are a few tips for new boat insurance buyers:

Work with your budget

Like we already mentioned, boat insurance is not a legal requirement. Therefore, it is prudent that you don’t financially strain to pay for insurance. Decide the amount you are willing to spend on your watercraft and speak to any insurance expert in Richards Insurance Agency to get their views and approvals.

Know your insurer

Some boats can be covered under homeowners’ insurance, especially the small boats. This heavily depends on the insurance provider, the price of the boat, and your home insurance policy. The best way to go about it would be to buy separate boat insurance from a reputable insurance agency in Nebraska like Richards Insurance Agency and add it to your home policy too. This will ensure that your boat is adequately covered because a home insurance policy can be limited.

Understand the policy

Don’t assume that boat insurance is like other basic insurance policies. Make sure that you read and understand clearly what is covered. Ask for clarification where you don’t understand before signing up or finalizing the agreement. Remember, you can always walk away if you are not satisfied with the policy.

If you still need more tips or have more questions regarding boat insurance, feel free to visit us at Richards Insurance Agency in Lincoln, NE today!