In Florida, boats are significant investments for consumers. The type of boat purchased by the consumer defines what coverage is needed to protect the investment. Additional policies are needed if the consumer chooses to use the boat as a second home. A local insurance agency provides details about Boat Insurance in Bradenton FL for the consumers.
Navigational Restrictions for Boat Owners
Navigational restrictions apply to towing and retrieval services after the boat breaks down or is involved in an accident. The policies define the navigational restrictions based on where the policyholder lives and areas in which they are likely to travel in their boat. The towing or retrieval services aren’t available beyond the distance specified.
Agreed-Upon Values for the Boat
The agreed-upon value reflects the price that the owner accepts if the boat is a total loss. Typically, the value is the current market value of the boat minus depreciation and damage. In some cases, the value won’t replace the boat completely, and the policyholder faces out of pocket expenses. The owner must review their options and arrive at a value that secures their investment.
Accident and Liability Coverage
Accident and liability coverage is included in the policy. The terms of the policy define who is covered. Select policies provide coverage for other parties involved in the accident. Coverage for the boat owner and their passengers is available as well. When reviewing policies, the boat owner must determine what level of coverage is most beneficial for them.
Personal Property Coverage
Boat policies cover personal property that is stored in the vessel. For example, sailboats contain household items in the cabin and other personal effects. The policyholder reviews the policy to determine the exact value applied to these items. Valuable items require a rider that is added to the policy for maximum protection.
In Florida, boats require insurance coverage to prevent a serious loss and lower common liabilities for owners. The vessels range from small fishing boats to houseboats. The type of boat defines the right policy to achieve maximum coverage. Consumers who need more information about Boat Insurance in Bradenton FL can visit us for more details or a free quote now.
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