Important questions to ask when purchasing a boat insurance policy

As a boat owner in the Lees Summit, MO area, it is critical that you ask the right questions before purchasing a boat insurance policy to make sure you have the right types of coverage. While boat insurance is not mandatory, it is critical that you consider buying it, so you do not end up paying out-of-pocket after an accident.  An agent at Epic Insurance would be happy to answer all your questions about boat insurance. 

Should I get agreed to value or actual cash value?

Deciding on the amount you want to insure your boat for is a critical decision. Actual cash value takes into consideration depreciation when paying out a claim, so as your boat gets older, it will be worth less and less from an insurance perspective. Agreed to value is a predetermined amount that you agree with the insurance carrier on in advance. If you purchase an agreed value policy and end up upgrading your boat substantially, you should have the amount adjusted. 

How far offshore can I take my boat and still be covered?

Each insurance carrier will have a certain distance you can take your boat offshore and still be covered. It is critical that you know what your policy allows for before taking your boat out. 

What is my insurance carrier rating? 

Purchasing an insurance policy through an insurance company with a good rating is essential. The higher the rating indicates the insurance company is financially sound and will be around in the event, you need to file a claim. 

Are my personal belongings on the boat covered?

Policies do not automatically cover personal property on the boat. If having your personal property covered is essential, we can add coverage to the policy through an endorsement. 

If you are interested in learning more about boat insurance, reach out to an agent at Epic Insurance today. We proudly serve the Lees Summit, MO area.