In all likelihood, you bought your boat from a dealer who specializes in boats. So when it comes to insuring your boat, doesn’t it make sense to do that with a company that also specializes in boats?
Here are three of the most important reasons why having your boat on its own insurance policy simply makes sense,
1. Insuring your boat through your home or auto policy means any claims for damages on your boat will count as claims on the whole policy. We have heard from many clients that claims frequency was cited by their insurer as reason to cancel their policy or, most often, simply raise their premiums. A boat only policy with MD Marine eliminates this risk.
2. The coverage for home insurance and boat insurance are quite different from each other. In almost every case, the quality of coverage your boat would have when added to a home policy would not contain anywhere near the amount of coverage that a stand-alone boat policy would offer.
3. The basis of settlement on a home insurance policy for boats is measured in terms of actual cash value (replacement cost less depreciation). This can often make calculating a claim value extremely complex and difficult, and in the end it could actually cost you more money than you thought. Conversely, the basis of settlement on stand-alone boat policy is usually based on ‘agreed value’. And that truly is boat insurance made easy!
The right policy for your boat is not your home or cottage policy.
Compare and see the difference for yourself.
We invite you to mouse over the benefits for a more detailed explanation.
|Benefits *||MD Marine Policy||*Home & Auto Policy|
|Vermin Coverage||Not Available|
|Theft – No locks required||Not Available|
|Guaranteed Replacement Cost:||Not Available|
|Claims Guarantee||Not Available|
|Marine Assistance||Not Available|
|Liability – Up to $2 Million|
* Based on information available at the time of production. Subject to change
Our team of marine experts are always ready to help. To contact our team call 1-877-627-4633.
We’d love to help you get started on your boat insurance.