One thing our boat insurance company professionals want you to know is that homeowners insurance is not a substitute for boat insurance.

Some homeowner insurance plans will include selective coverage for boats, but what that coverage entails is variable. If your homeowner’s policy provides coverage for your boat, familiarize yourself with what the parameters for coverage are. For instance, It’s not unusual for homeowner’s insurance to only cover damage if the boat is on your property. Additionally, the actual financial benefit through a homeowner’s insurance policy may not be enough to cover repairs or replacement.

It is worth pursuing specialized insurance with a reputable boat insurance company because a boat is very different than a home. An exclusively marine insurance company will know and understand the valuation for various marine vessels as well as the risks boat owners face.

There are many things to consider when you explore your boat insurance options. A specialized boat insurance company will be very knowledgeable about the factors that can impact the cost or requirements for boat insurance – like the age of the boat or how powerful the engine is.

Be aware that there are very diverse options available to boat owners for seasonal boat use, towing or transporting your boat, and damage from vandals or natural disasters. You’ll also want to understand the difference between actual cash value coverage and agreed value coverage.

The other consideration is that as a boat owner, you need to ensure you have adequate liability coverage in the event of an accident or another mishap. Specialized service has real benefits, and it’s much better to be informed about your options before you need to make a claim.

You don’t have to navigate this alone. Global Marine Insurance is a specialized boat insurance company that has served boating enthusiasts and the commercial boating industry since 1989. We are one of the leading marine insurance agencies in North America, and we’re ready to help you get the best boat insurance coverage at the most competitive rates.