G&G Independent Insurance can help make your time on the water relaxed and worry-free. We will find you comprehensive protection that protects you, your friends and family, your watercraft and your boating equipment. The average boat costs less than a dollar a day to insure. You’ll enjoy being on the water even more when you aren’t worried about your safety, the safety of your passengers, or your investment.
Do you know what to look for in a watercraft insurance policy in Arkansas? G&G Independent Insurance can help you determine the right amount of coverage to meet your specific needs. Just contact us today to get started.
Coverage of Boat Insurance
Here are some items you’ll need to consider when shopping for boat insurance in Little Rock.
- Navigational Area: Know where you are covered in the water. Some insurance companies offer protection that covers you up to 75 miles from the U.S. coastline, into Canadian coastal or inland waters, and into the Pacific coastal waters of Mexico. In California, Florida and Oregon, coverage for additional areas can be purchased.
- Agreed Value Coverage: Watercrafts depreciate just like cars. Actual cash value policies can make it difficult to replace a boat that has been stolen or destroyed. This means that if your boat is a total loss you will get the value you insured it for, minus any deductible.
- Liability: Like car insurance, personal liability coverage provides coverage to other boaters and boat owners in the event you are at-fault for an accident on the water. This coverage will pay to repair or replace the property of someone else as well as for their medical care, lost wages, and other costs incurred as a result of a boating accident for which you are at-fault.
- Medical Payments: Medical payments coverage will pay for the cost of needed care that is the result of a boating accident. This coverage is available from $500 to $10,000 and covers you, your passengers, and even your water skiers/tubers, regardless of who is at-fault.
- Physical Damage Coverage: Physical damage coverage pays for the cost to repair or replace your watercraft, its motor, any permanently attached equipment, and your trailer if it is stolen or damaged.
- Uninsured/Underinsured Watercraft Bodily Injury: Since boat insurance is not always mandatory, many boaters choose not to get insurance. If you are hit by an uninsured or underinsured boater and you are injured, this type of coverage pays for medical treatment, lost wages, and other costs associated with the accident.
- Fuel Spill Liability and Wreckage Removal: Should your boat sink or be seriously damaged, there is a chance that it could leak oil or fuel into the water. As the boat’s owner, you are required by law to have this cleaned up, which can be time consuming and expensive.
- Personal Effects: Your policy can provide coverage for many personal effects, including clothing, jewelry, cell phones, scuba/snorkeling and other sporting equipment, and fishing equipment. Limits vary by state, so check with us for what’s required in Arkansas. Personal effects coverage does not include jewelry, watches or furs.
- Unattached Equipment Coverage: This pays to repair or replace equipment that isn’t permanently attached to your boat or personal watercraft, but is designed for use primarily on a boat. This includes items like lifesaving equipment, water skis, anchors, oars, fire extinguishers, tarps, etc.
- Emergency Assistance: The Emergency Assistance Package provides coverage for towing, labor and delivery of gas, oil or loaned battery if the watercraft is disabled while on the water.
Factors Affecting Rates of Boat Insurance in Arkansas
- Age and condition of the boat: Newer boats or those in good condition will usually cost less to insure than older or poorly-maintained boats.
- Boat type and size: The type and size of the boat can impact insurance rates, with larger boats or those with higher horsepower engines generally costing more to insure.
- Boating experience of the owner: Insurance companies may offer lower rates to more experienced boaters who have completed safety courses or have a clean boating record.
- Owner’s driving record: Insurance companies may also consider the owner’s driving record for their car or other vehicles when determining boat insurance rates.
- Navigation area: Where the boat is primarily used and stored can also impact insurance rates. Boats that are primarily used in calm, inland waters may have lower rates than those used in rougher coastal areas.
- Safety and security measures: Installing safety equipment, such as fire extinguishers or alarms, and security devices, such as locks or tracking systems, can lower insurance rates by reducing the risk of theft or damage.
Conclusion
When shopping for boat insurance, it’s essential to compare policy coverage and limitations, consider the insurer’s reputation, and prioritize good customer service. By taking these steps, boat owners can find the right policy that provides the coverage they need at an affordable price.
Every need is unique – contact us today to find out how to get the best boat insurance coverage for you.
