Business insurance generally covers accidental property damage, accidents resulting in injuries to employees or customers, the products you sell, or copyright issues.
Are there ways to reduce premium costs on boat insurance?
One way to reduce premium costs on boat insurance is to take a boating safety course, since many insurance companies offer discounts to policyholders with this credential. You'll also pay lower rates if you maintain a safe boating record. Older boats are more expensive to insure, so it is possible to save money on boat insurance by buying a newer vessel.
How much boat insurance coverage is necessary?
It's typically recommended that boat owners get at least $1,000,000 in liability coverage. Property damage costs and medical bills can burdensome, and this coverage will protect from liability in accidents in which you're at fault. For collision and comprehensive coverage, get enough protection to reimburse you for the value of the boat.
Is only the boat insurance policy holder allowed to operate the boat?
Typically, a boat insurance policy provides coverage for anyone that the policyholder allows to operate the boat. However, this may sometimes vary from insurance company to insurance company. If you plan on letting others operate your boat, it's a good idea to discuss this with your insurance broker to make sure this is covered.
Does boat insurance cover damage by storms and hurricanes?
Some insurance companies offer boat insurance that covers damage by storms and hurricanes, but this kind of coverage might not be a standard part of a policy’s coverage. If you want this kind of protection, tell an insurance broker.