Before purchasing boat insurance or getting your vessel out on the water in Virginia Beach, VA, there are vital features and things you need to know about the policy. Many boat owners enjoy boating and the sense of freedom they find while on the open water with close friends and family. But, before you embark on the next boating adventure, read to understand the important features of boat insurance from Armor Insurance Group.
It is important
Unfortunately, some cruise the waters comfortably thinking that their home insurance policies protect their boats. In most cases, this is not true because a homeowners insurance policy doesn’t cover large boats. Therefore, if your boat has an engine or is an expensive vessel, you should consider purchasing a separate policy to ensure that you’re fully protected.
It is Unique
Although there are a few similarities between your auto, home, and boat insurance, there are several factors that make these coverages different. For example, you can take cash value or consider a replacement cost on your boat insurance for total loss, the same way you can with your home insurance. However, the Armor Insurance Group’s boat insurance policy is unique in the sense that it has a feature that allows you to suspend the policy when the boat is not in use. You can’t suspend home or auto insurance the same way. In other words, you can decide to save some quick bucks during off season.
Differences in coverages
A majority of boat owners get confused by the differences in the coverage options of boat insurance. For instance, your vessel is covered by your individual insurance when it is in the water. But, when your boat is attached to your truck, especially when traveling, it is then covered by your auto insurance policy. And, your home insurance may protect your boat if it gets damaged while on your property.
It is important to avoid liabilities and protect yourself financially by purchasing sufficient boat insurance for your vessel. You can contact us today to learn more about Armor Insurance Group and how our boat insurance can help you protect your boat in Virginia Beach, VA.