Boat/Watercraft Insurance
Most insurance companies who write boat policies do not possess a thorough understanding of boating and the marine industry. Furthermore, the agents who write the policies often have even less knowledge or experience in this specific industry. This is where ALPHA Surance exceeds. Our staff has been actively engaged in the boating industry for over years, expanding on our passions and making it a key element to our business. We are able to find competitive markets for all watercraft including small PWC, quad engine boats and large multi-million dollar yachts. We understand the dream to get “just a little bit bigger” and a “little more horsepower” and are here to help you find the right insurance to do so.
ALPHA SURANCE MARINE COVERAGES OFFERED:
- Agreed Value Coverage:
Boats depreciate just like any other asset; however, unlike most assets boats depreciate at a much faster rate. If you are ensuring your boat for Actual Cash value such as many insurance companies do, then it would be difficult to replace your boat if it is wrecked in an accident or stolen. Agreed Value is defined as reimbursement for the agreed value minus any deductible if there is an accident or boat is stolen.
- Liability:
Just like other forms of motor vehicles, personal liability coverages provide coverage to the other party if you have an at fault accident. This liability coverage will pay to repair or replace the other party’s boat, medical costs, and other costs incurred as a result of the accident that you are at fault for.
- Medical Payments:
Medical payment coverage is used to pay medical bills resulting from a boating accident. Medical payment coverage is offered from $500 to $20,000 which will be used to cover you, your passenger and even your water skiers/tubers regardless of who is at fault.
- Physical Damage Coverage:
This coverage is used to pay for the cost to repair or replace your boat, its motor, any permanently attached equipment and trailer whether it was stolen or sustained damage.
- Uninsured/underinsured boater:
Unlike car insurance, boat insurance is not required by law and many boaters choose unwisely to decline insurance. If an uninsured or underinsured boater hits you and you are injured, this coverage will take effect. Monetary provisions for medical treatment, lost wages and any other cost that would occur due to the accident would be provided.
- Fuel Spill Liability and Wreckage Removal:
In the unfortunate event that your boat sinks or is extremely damaged, it has the possibility to leak oil or fuel into the surrounding water. As the boat’s owner, you are held liable by law to clean up this spill up, which could be extremely expensive. This coverage will cover the clean- up cost.
- Personal Effects:
This coverage is used for the different kinds of personal effects that are on the boat such as scuba/snorkeling gear, clothing, other sports equipment and fishing equipment. The limit for this coverage varies by state, so individual clarification for your specific state will be explained. This coverage does not include jewelry, and watches.
- Unattached Equipment Coverage:
This pays to repair or replace equipment that is not permanently attached to your boat or personal watercraft but is designed for use primarily on a boat. This includes items like lifesaving equipment, water skis, anchors, oars, fire extinguishers, tarps, etc.
- Emergency Assistance:
The Emergency Assistance Package provides coverage for towing, labor and delivery of gas, oil or loaned battery if the watercraft is disabled while on the water.
- Navigational Area:
Know where you are covered in the water. Some insurance companies offer protection that covers you up to 75 miles from the U.S. coastline, into Canadian coastal or inland waters, and into the Pacific coastal waters of Mexico. In Florida, Florida and Oregon, coverage for additional areas can be purchased.
