The Options Provided by Dedicated Boat Insurers in OH

According to a 2010 study, it is estimated that over 75 million Americans participated in some sort of boating activity. What this means is that there are a lot of boats out there from the small sailboat to the multimillion-dollar yacht and all points in between. Because a boat is a mobile craft, it can’t be attached to another insurance policy like home insurance and as such, it will require its own insurance policy. When it comes to the insurance industry, however, boats are a bit of a conundrum. That’s why Boat Insurers in OH insure boats with a policy that is a combination of homeowners insurance and auto insurance.

Like Home Insurance

The areas where boat insurance mimics home insurance is that boat insurance includes liability coverage if someone gets hurt while on the boat. In addition, in a situation where the boat is designated a complete loss, like after a significant accident, much like homeowners insurance, replacement value or cash value coverage is provided.

Auto Insurance Similarities

Where boat insurance is similar to automotive insurance is that a boat insurance policy offers bodily damage coverage if someone is injured because of the boat running into the docks or perhaps another boat. In addition, property damages also figure into the boat insurance policy should an accident damage another boat or a permanent structure. There is also physical damage that can cover damage to a boat should an accident happen, such as the boat running into something or running aground.

Suspending a Policy

The unique aspect of boat insurance is that it can be suspended if necessary. For boaters in Ohio, the spring and summer months are ideal for boating. However, most recreational boaters won’t get out on the water too much during the late fall and winter months, if at all. Because of this, Boat Insurers in OH will allow the boat owner to suspend the policy until the boat gets into the water again.

If you own a boat, whether it’s an inexpensive boat or something a bit more pricey, you’ll want to make sure that the boat has adequate insurance coverage. Because there are so many nuances to boat insurance, it’s best to speak with professionals found at schlatherinsurance.com to learn how to properly insure your boat. You can also like their Facebook page for latest updates.

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