You probably know how your boat insurance from Friant Insurance Agency protects your boat on the water, but do you know how it protects your vessel out of the water?
Beyond reimbursing you for repairs when you collide with any watercraft, your boat policy also protects your boat when it sits in storage or you haul it to your favorite body of water. Your policy lists named perils such as fire, lightning, vandalism, and theft. If your boat gets struck by lightning, for example, while moored in Temecula, CA, the insurance covers it. The same is true if a fire breaks out at the dry-dock storage facility and damages the watercraft. If your boat becomes damaged during a collision on the road while you transport it, the repairs or replacement still gets covered.
The reimbursement coverages apply to both the watercraft and the personal belongings stored within it. Your laptop, stored in the hold, gets covered in the on the road collision, just as your sonar does.
The amount of reimbursement you obtain depends on the level of coverage you choose. You have a choice between actual cash value or agreed amount value. The former pays you the current market value of your boat; the latter pays you an amount that you and your insurance company decided on when you purchased the policy.
Damage from marine life, whether freshwater or ocean, is not covered. If a shark damages your boat or zebra mussels, that is not covered.
Contact Friant Insurance Agency today to learn more about the property damage coverage and other coverages your boat policy provides you. We serve the Temecula, CA area with the insurance it needs to protect its’ financial futures.