Your birthday was wonderful! Your in-laws gave both of you a gift certificate to buy a new boat. You can't wait to pick out the new boat and get it on the water this spring! So, you spend hours on the Internet looking at boat reviews and walking through sports shops looking at boating gear.
While this time is an exciting one, let's take a moment and talk about boat insurance. You want to make sure that you have insurance for that new boat and that your policy covers you while driving that boat.
The first thing to decide is do you want agreed value or actual cash value insurance? Agreed value means if your boat is damaged or destroyed in an accident, then the value stays what it was when the policy was written. There is not depreciation. Actual cash value means insurance will reimburse you what the boat is worth now, not the full purchase price.
The second thing is to make sure you have enough liability coverage. Boating accidents are sometimes tragic, so talk with your independent insurance agent and make sure your policy covers you in case someone is injured or worse. You might also talk with an agent about an umbrella policy to cover you beyond your liability coverage.
The third thing is to make sure you and everyone who will drive your boat takes a boating safety class. Many insurance agencies will offer you a discount if you show proof of passing a safety class.
The fourth thing is to make sure you have all the required safety equipment — such as a fire extinguisher, life vests, towing rope and floatable seat cushions.
While you are deciding on a boat to buy this spring, take time to talk with an agent and make sure you have the right insurance.
Get a quote today. Call Owens Insurance Agency at 800-256-3575 for more information on Kentucky boat insurance.