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* My boat's engine wouldn't start the other day, so I took it to a shop to see what was wrong. They said it needs to be completely overhauled. Is this covered by my boat insurance?
Your boat insurance policy will not pay to overhaul your engine. Unless your engine was damaged by a covered peril (such as lightning, storm damage, vandalism) the cost to overhaul it is not covered. Remember that wear and tear is not a covered condition. Insurance should not be confused with a maintenance contract. Insurance is only meant to offer protection in case of accidental or catastrophic circumstances.
* I recently bought a Jet Ski. Is this watercraft covered under my homeowners insurance policy? If not, do I need boat insurance?
Jet Skis are not covered under homeowners or boat policies. In fact, both policies specifically exclude this type of craft. Jet Skis (as well as other types of nonconventional watercraft like hydrocycles and ski boats) require insurance provided by companies that specialize in insuring these kinds of risks only.
Is "PRICE" the most important factor to consider when purchasing boat insurance?
No. Unlike auto or home insurance where most companies offer the exact same coverage, boat insurance varies between companies. While the amount you pay for insurance has to be a factor in the selection of your protection package it is more important to consider the types of losses covered, how much you will collect in the event of a loss, what assistance is available in an emergency, and what level of service you will receive. The boat owner should select a carrier, agent, and policy that meets their specific needs. In most cases this means not selecting a policy based on the price, but on what you get in return because even large differences in premiums will be made up quickly if you select an inadequate policy, an unknowledgeable agent or an indifferent carrier.
If I purchase physical damge, is the boat covered at replacement cost or actual cash value?
You have the option to purchase coverage for they type of settlement you would like..
What will the Watercraft Policy cover if I'm towing a boat and trailer and they come loose from the car and cause an accident?
Your Auto Policy will provide liability on the auto, boat, and trailer for any bodily injury or property damage for which the driver is found liable. The Watercraft Policy will cover physical damage to the boat and trailer if you purchase that coverage. The only place to get coverage for damage to your vehicle would be your auto policy, not the watercraft policy.
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