Buying a Boat
After your home and car, a boat is probably one of the most significant investments you’ll make in life. And though boat insurance isn’t mandatory, you’re probably not going to want to cut corners when it comes to something so substantial. Before making the decision to purchase a boat, call your mates at Killingbeck Insurance & Tax Preparation – we’ll steer you clear of choppy waters and have you sailing happily in no time. Here are a few things to consider before buying a new or used boat:
Don’t rely on your homeowners insurance to keep you afloat
It’s a commonly-held misconception that boats are covered under homeowner’s insurance policies. But in actuality, there is only extremely limited coverage ($1,000 - $1,500 depending on the insurance company) for damage to your boat on your homeowner’s policy. This is not a lot of money considering the exorbitant expenses associated with boat ownership. Also in most cases, the loss must occur at your home.
Unfortunately, damage to your vessel that occurs when you’re launching it or out in the water is not covered by your homeowner’s policy. What’s more, liability protection in the event that somebody is hurt or property is damaged will not be covered by your homeowner’s policy (with the exception of small outboard boats with 25 horsepower or less).
The solution is a boat insurance policy from Killingbeck. Our boat insurance policies cover:
- Damage to your boat in and out of water;
- Liability protection in case you are deemed responsible for injury to swimmers, water skiers, or other boaters;
- Damage to another boat, a dock or the environment (due to fuel spillage);
- No-fault medical payment coverage for accidental injuries to the passengers on your boat.
Call the pros at Killingbeck Insurance & Tax Preparation for a hassle-free boat insurance quote at (765) 452-8000. It’s fast and easy, and can give you the peace of mind in knowing that you are fully covered.
Covering your Boat While in Transit
While your boat is being transported, the liability coverage on your auto insurance will extend to cover damage or injury caused by your vessel, if you are found to be negligent in the accident. This is why it’s always important to check the details of your auto liability limits to make sure they are adequate, seeing as a serious accident on the freeway can easily run into the hundreds of thousands of dollars.
Contact Killingbeck before you buy your boat – not only can we review your existing auto insurance policy and adjust your liability coverage to the new exposure of towing a trailer, but we can also comparison shop your potential rates so you will have an idea of the cost and breadth of the coverage before you buy.
When you’ve narrowed down your options and are ready to buy your boat, give us a call with the specs and we can complete the application right over the phone. That way, you can start enjoying your new boat right away while safely towing it home. Hassle-free boat insurance with the peace of mind you deserve. That’s what we do at Killingbeck Insurance & Tax Preparation.
Coverage for the people on your boat
A boat insurance policy from Killingbeck can provide liability and medical coverage for all the occupants on your boat, and even those you tow behind you on water skis. As long as you've contacted us and talked to an agent, you’ll have the peace of mind knowing that you’re fully insured.
Storing your boat at the marina
If you plan on storing your boat at a marina, you’ll most likely be required to have at least $500,000 liability protection before they’ll rent you a mooring space. This is because of the close proximity to other boats and the potential for loss on your boat to spread to other vessels or the dock. Contact your marina for specific details, and then call Killingbeck Insurance & Tax Preparation for the hassle-free boat insurance you need in order to moor your boat there.
Boat Insurance Discounts
Contact Killingbeck for all your personal insurance needs, and that includes boat insurance. Our friendly agents will work to find you all the best discounts for your situation. You can lower your boat insurance rates by:
- Making a wise choice about what type of boat you buy. Opting for a safe boat rather than one designed for high performance will keep your rates low.
- The overall value of the boat makes a big difference. The more the boat is worth, the higher the premium.
- A number of insurance companies offer discounts to boat owners who enroll in and complete a safety course. Safety training also ensures that you’ll make the right decision should a critical situation arise.
- Most insurance agencies also offer ‘new hull’ discounts and ‘claim-free’ discounts.
If you’re on the market to buy a boat, or if you are already a boat owner, contact the team at Killingbeck Insurance & Tax Preparation at (765) 452-8000. We’ll track down every available discount to assure that you receive the best value for your boat insurance investment. Ahoy mates!