The price of the boat is the first expense. Your marine surveyor in Naples Fl will help you understand if you are paying a fair price for it or not. Once that is done, you have to think about the cost of storage, insurance and maintenance. These costs can really add up. This is more so when it comes to boat insurance Naples Fl.
Boat insurance is a subject best left to the experts. Your boat surveyor can be a great source of information. The goal here is to get comprehensive information on cost, requirements and what is covered. In this post, our focus will be on how to buy the best boat insurance Naples Fl.
Know your insurer
Don’t be swayed by the promises an insurance company makes. Before you even review their packages, start by doing research on them. To get the most from an insurance cover, you must get it from a reputable agent. There are so many insurers who have gained a reputation for being a headache to their clients. You don’t want to work with such insurers. You want your legitimate claim to be honored without setting up camp at their door. The company you select must also specialize in boats.
Understand the difference between agreed and cash value
One of the reasons you should involve a marine surveyor in Naples when applying for insurance is so as to get unbiased information on certain insurance terms. When buying insurance, you will have two main choices to make: agreed value and actual cash value. Agreed value policy is more expensive but it pays more because it pays the stated value of the policy in the event of total loss. Actual cash value policy, on the other hand, costs less but only pays the actual cash value at the time of loss. This means depreciation will be factored in. actual cash value is only ideal for a less expensive boat.
Understand the truth on salvage
When your boat is damaged, it will have to be salvaged. The best policy is the one that covers 100% of the insured valued. If the policy covers anything less than 100%, you may end up paying salvage costs from your own money. Most insurance policies limit salvage coverage to a certain percentage of the total value of the boat.
Understand the insurance language
Boat insurance Naples FL must never be treated like any other insurance. Take time to understand precisely what is being covered and what will not be covered. If a policy doesn’t make sense, ask for an explanation. The idea is never to agree to anything without first understanding what it means.
One size doesn’t fit all
Last but not least, you must work with a boat surveyor in Naples Fl to understand the type and size of insurance you should get for your boat. Don’t rely solely on what the surveyor from the insurance company says.