Boat Insurance is an Important Precaution

 
KATY, Texas - July 26, 2013 - PRLog -- A boat insurance policy is important, yet often overlooked.

While boat insurance is not required by law in every state, experts say that it is a responsible way for boat owners to protect their investment.

Eighty-three million Americans participated in boating in 2011, according to data from the National Marine Manufacturers Association –that’s an almost 10 percent increase since 2010. With the numbers of boating enthusiasts continuing to rise however, so does the chance of a collision or accident.

For boat owners, having a boat insurance policy that protects their investment, as well as their liability in the event of an accident, is becoming increasingly necessary.

“Owning a boat is an investment that comes with an abundance of rewards. As with any investment, there are precautionary measures for protecting your boat,” says Eric Baillargeon, a GEICO insurance agent boat program manager.

Baillargeon says that boat owners should ask themselves the question, “Am I fully protected?”

“Boat insurance is one of the most important precursors to boating, but most often overlooked,” Baillargeon continues, “Because boat insurance doesn't come in a one-size-fits-all package, it can be confusing. Boat owners should take the time to fully understand what's below the surface of their policies and coverages.”

Jay MacDonald of Bankrate.com agrees that it can be easy for boat owners to feel overwhelmed when it comes to obtaining a proper boat insurance policy. “That's because boats are a bit of an odd duck in the insurance world,” MacDonald writes in his article “6 things to know about boat insurance.”

“Insuring a runabout has much in common with buying auto insurance while insuring a million-dollar yacht more closely resembles buying home insurance for a small house,” MacDonald writes.

“If you're new to boating, you may be under the impression that your homeowners insurance will magically stretch to cover your boat,” continues MacDonald.“Sadly, in most cases it won't.”

For boat owners, summer is all about the thrill of the open water –boat owners shouldn’t forget about insurance though. Boating enthusiasts should check with their insurance provider to make sure they are fully covered.

For more information on boat or watercraft insurance in the state of Texas visit Insurance Agency Texas (www.insuranceagencytexas.com)

www.bankrate.com/finance/insurance/6-things-know-boat-insurance-1.aspx

http://insurancenewsnet.com/oarticle/2012/07/12/geico-brings-out-article-on-boat-insurance-coverage-%5Bmanufacturing-close--up%5D-a-349965.html?newswires#.UeTjBDcph2F

http://www.nmma.org/news.aspx?id=18166
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Location:Katy - Texas - United States
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