Are you a boating enthusiast? Do you live in the Kansas City, MO area? If so, Rich Insurance Agency LLC can provide the insurance coverage necessary to keep your boat or watercraft protected.
Why Boat Insurance
Even though you probably won’t use your boat for the entire year, it is a good idea to keep it insured year-round. While it is in storage, it will be protected against theft, hail damage, or any other covered hazard. When you are ready to get back on the water, you will not need to reactivate your policy.
There are two basic types of boat insurance coverage – actual cash value and agreed value. How the depreciation is handled determines which type of policy is written.
- An agreed value policy will cover the boat based on its value when the policy is written.
- An actual cash value policy costs less initially, but factors in depreciation. The policy will reimburse up to the actual cash value of the boat at the time it is declared a partial or total loss.
Your homeowner’s insurance policy will cover your watercraft, but only on a very limited basis, with lower limits and many liability restrictions. In order to adequately protect your boat, a separate insurance policy is recommended.
There are some things that a boat insurance policy will not cover, such as wear and tear or corrosion, damage caused by mold or animals, such as birds, insects, and rodents, mechanical breakdown, and lack of maintenance.
Give Us A Call
If you are a boat owner and live in Kansas City, MO, make sure your boat or watercraft is properly insured. Rich Insurance Agency LLC can provide a quote or answer any questions you may have. Contact us today. You will be glad you did.
