When it comes to boat insurance, there are many factors that affect the cost and coverage. It's important to review the details of each policy to make sure you have the coverage you expect in the event of a loss. Every marine cargo insurance claim is different, so it's difficult to predict how long it will take to finalize. Generally, it will take 30 to 60 days for the claim to be adjusted.
Getting a quote for boat insurance is easy and fast. You can get a quote in about 90 seconds for most ships or you can call 800-477-7140 to request a quote. However, price should not be the only factor when considering boat insurance. Make sure you take out your boat insurance with an expert boat insurance agent. There are many ways to save money on boat insurance premiums.
Coastal areas generally cost more than inland areas, and hurricane-prone areas cost more with higher deductibles. Most companies will allow you to get a discount if you complete an approved boating safety course. Having an acceptable driving record can also keep your insurance costs low. The helmet deductible you select can lower your premium (see What is a helmet deductible?).
Buy a boat with which you have a similar experience, don't buy a 50-foot boat like your first boat. Most older boats have higher insurance premiums, as do high-performance boats (they go fast). Staying free of claims reduces the cost of your insurance. Most of the insurance companies we represent have discounts for successfully completing an approved safe browsing course. The courses approved by the National Association of State Legal Navigational Administrators (NASBLA) include courses taught by the Coast Guard Assistant, the Power Squadron and others. Since no two policies are the same, it's not an easy question to answer what losses are covered by boat insurance policies.
All companies represented by United Marine Underwriters are all-risk policies, meaning that everything is covered, except for what is specifically excluded. To find out what's covered, review what's excluded. We offer agreed-upon value and real cash value policies. We offer a 50% down payment and the remaining 50% is due 30 days after the effective date of the policy. We also offer a 20% down payment with 4 monthly payments of 20%.
You can pay by check, e-check or credit card. You should review the specific navigation allowed in the policy to determine if Mexico is covered. Some policies will automatically include Mexico and others will not. If the boat insurance policy offers navigation in Mexico, this would only be to cover physical damage. Mexican law requires that all ships have liability insurance issued through a Mexican insurance company.
We can help you obtain liability insurance issued by a Mexican insurance company. Our web quotation system is designed to issue quotes automatically. We have automatic quotation parameters that must be met for a quote to be issued automatically. If your information does not meet these automatic quote parameters, the quote will require our review. Items that require our review include, but are not limited to, ships over 25 years old, navigation losses, previous ownership of a ship, and whether the ship's maximum speed is greater than 60 miles per hour.
If your quote requires our review, we will normally respond within one hour if the request is received during normal business hours. If your model doesn't appear in the list when getting a quote online, select Skip boat search and you can provide us with the information manually. All boat insurance policies are for 12 months. In winter climates, we can write the policy with a reduced premium. Only the owner of the boat title can purchase a boat insurance policy. If the boat is not insured in the name of the title owner, then there is no coverage on the boat. You'll need to get an identification card from your auto insurance agent if you want coverage when your boat is in trailer and hooked up to your car. Boat insurance policies do cover physical damage to trailers, but liability during towing is covered by your car policy. The general answer is that anyone you give permission to use the boat is covered when it comes to coverage for drivers other than yourself.
The exceptions to this are professional marine personnel and if the boat insurance policy is backed by a designated operator. With the endorsement of a designated operator, only listed operators can operate the ship. Endorsements from designated operators are common on high-performance boats. You can request that we add coverage for parking period when you purchase your policy if you want coverage during parking period.