Home Page Facebook Twitter LinkedIn YouTube Blog RSS Feed Header

Auto Insurance Homeowners Insurance Business Insurance Life and Health Insurance Post Header Line

You saved for a few years and now have the boat of your dreams. You need to protect that dream. Just as we purchase car and home insurance, we need to think about boat insurance. But, how do you best protect your boat?

First, talk with your independent insurance agent. You might be able to add your boat onto your homeowner's insurance policy. When you are having this conversation, take the time to be sure they understand boats and the value of boats.

Second, decide if you want agreed value or actual cash value. Agreed value costs more, but it will cover the stated value of the policy if there is a total loss of your boat. Agreed value will also cover partial losses where you receive new parts with little to no depreciation taken into account. Actual cash value will cost you less in premiums because the payout takes depreciation into account and you will only be reimbursed for the boat’s current book value.

Third, if you chose an agreed value policy, be aware of the salvage coverage. If your boat sinks, you want to have it salvaged, and then repaired. Ask the insurance agent questions about the scenario of sinking and ensure you are adequately covered.

Fourth, think about how you use the boat. Will you need hurricane haul-out assistance, fuel spill coverage or coverage on a trip? All of these are questions to talk about when purchasing your boat insurance.

Understanding boat insurance can be easy following these four steps to protect your dream. Make the smart choice and check it out today.

Get the coverage you need. Call Insurance Planning Service at (734) 421-9900 for more information on Michigan boat insurance.

Posted 12:05 PM

Share |

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011

View Mobile Version
HAPPY 4th of JULY!

Citizens Insurance
Grange Insurance
Hastings Mutual
Michigan Insurance Company
Philadelphia Insurance Companies
progressive logo
west bend logo
acuity logo
fremont logo
Get A Quote

Home   About Us   Contact   Blog   Partners   Privacy Policy

Lighthouse Group Main Office in Grand Rapids, MI
Mailing Address | P.O. Box 530009, Livonia, MI 48153

Phone: 734.421.9900 | Toll Free: 800.220.5582 | Fax: 734.421.9911

Also serving these Detroit area communities in Michigan: Livonia, Farmington Hills, Ann Arbor, Southfield, Plymouth, Canton, Westland, Northville, Novi, Dearborn, South Lyon & Walled Lake