Don’t Get Caught Under-Protected!
As lifelong marine enthusiasts, we understand how frustrating denied claims can be when you pay your insurance premium every month or every year -dutifully- only to discover that what you thought was covered, was in-fact not. Unfortunately, this is often the case when dealing with an insurance broker that does not specialize in “our world” on the water. Click here for a Quick Boat or Yacht Insurance Quote!
At Mid-Atlantic Yacht Agency, we believe in all-encompassing protection for each of our clients, their loved ones, and their investments. We know a lot of time and thought went into choosing the perfect vessel; picking the right coverage should be no different. Navigating through insurance policies that fit your needs and your budget is our area of expertise!
Types of Watercrafts we insure:
- Sportfishing & Bass boats
- House boats
- High performance boats
- Commercial/rental boats
- Personal Watercrafts & Dinghies
Why should I purchase Boat insurance if it is not required by law?
1. Your boat is a sizable asset and investment.
2. Your boat contains many of your valuable assets.
3. You are liable for all property damages as well as bodily injury claims
in the event of an accident.
While standard boating insurance policies offer coverages in the areas of bodily injury, property damage liability, medical pay, comprehensive, and collision, is it really enough? Think about the following scenario before you “save” money by bundling (often leaving you under-protected) through the same insurance agency that covers your home and car:
Jim Thompson takes a sport-fishing vacation with his angler friends once a year to catch dolphin (mahi mahi) 80 miles off the coast of Georgia to the Gulfstream. This year, the forecast is calling for the possibility of severe thunderstorms later in the week. On the third day of fishing the forecast became true and a bolt of lightning struck their outboard motors, setting fire to stern. Luckily, Jim and his buddies were unharmed but their outboard motors and fuel tank were not so fortunate. Although no one was injured, there was significant property damage to both the boat and the water surrounding it. Jim’s boat was covered by a standard boating policy which includes comprehensive and liability insurance. Mr. Thompson explained the day’s events and damage to his insurance agent adding, “we’re going to need towing assistance as well as someone to clean up this fuel spillage and debris.” The insurance agent replied, “Sir, did you read the fine print? Your policy only covers the areas 75 miles or less from the coast line. Additionally, you never purchased emergency towing nor debris removal coverage options.” Jim, perturbed, asked “well, what about the fuel and expenses we owe for the environmental damage? The liability insurance will cover it, right?” The agent replied, “no, I’m sorry but even if you had been within the 75 mile limit, fuel spillage and environmental damages are not part of our liability coverages; you alone are now liable for the damages.” If Jim had called one of our boating insurance experts, we would have forewarned him of these possible risks and made sure he was adequately protected for his fishing excursion.
………….Now, is that what you call savings?