Choosing the right company for your insurance needs doesn’t have to be a challenge, as long as you have the criteria set out correctly before you start to look for the right insurer.
Below, we take a look at some of the things that you might consider before choosing an insurer to insure your boat.
Reputation – If you have an accident or your boat is damaged and your insurance company refuses to pay or takes a long time in settling, then this is not going to be in your best interests. Make sure you have a good look around for comments about the potential insurer, asking around fellow boat owners who will no doubt have experiences and opinions when it comes to which insurers are going to be the best for you.
Coverage – You need to find an insurer that offers the correct type of coverage for your boat. For example, not all firms will cover narrow boats and not all insurers will allow you to sail around the world under an insurance policy. This means that when you start to look for the right company, you need to know exactly what you want them to insure, because if you get this wrong, then you could end up with worthless insurance.
Price – Although price should never be the only factor that you take into consideration when choosing insurance, you need to make sure that you get the best possible deal for your insurance needs. The Internet has made it so much easier to get competitive quotes within a few minutes of loading your computer, so do make sure that you get a decent price for your boat insurance.
Insurance Level – As with any type of insurance, there are often different levels of cover that you can purchase, which means choosing an insurer that offers the correct level for you is critical. Make sure that they cover everything you need when it comes to value and you can also check if they offer old for new cover in case your boat is damaged enough to make it not useable.
Conditions – Just like car or motor bike cover, there will be conditions about what you can and cannot do when it comes to your insurance policy. You really need to make sure that the insurance you choose is the correct type of insurance for you and that the conditions do not limit the policy, which if you do not adhere to can often make the policy void.