Owning a new sailboat brings the promise of new adventures on the water. Amidst the excitement of getting a new boat, however, it’s important to take a moment and make sure the boat is properly protected. Here are three key things about adequately insuring a new sailboat with boar insurance.
1. Protection Against Damage: Sometimes Required
One of the most important aspects of boat insurance is protecting your vessel, especially when it’s new.
You’ll likely be required to insure against vessel damage if you’re financing your boat. Most lenders require this when underwriting boat loans to ensure the vessel used as collateral against a loan is protected. However, it’s broadly recommended that you get damage coverage regardless of whether you’re required to.
2. Coverage for Onboard Gear: Protecting Your Equipment
In addition to protecting your boat against damage (and theft), it’s also important to protect what’s on it. Make sure any tackle, safety equipment, electronics, and other gear is protected against fire, theft, and other perils. This coverage is usually distinct from damage coverage.
3. Trailer Coverage: Safeguarding Your Transport
If you’re getting a trailer for towing your sailboat, you’ll also want to insure the trailer against car accident damage, theft, and other risks. This third protection is usually distinct from what a boat insurance policy offers for your sailboat and gear.
If you’ll only occasionally trailer your boat locally around the Sandpoint, ID area, we at Selkirk Insurance Services can help you find basic trailer coverage that’ll meet your needs. Of course, we can also assist with more extensive trailer coverage if you regularly tow.
Get Boat Insurance for Your New Sailboat
If you’re getting a new sailboat this season and will keep it around Sandpoint, ID, let us at Selkirk Insurance Services help you set up a boat insurance policy to protect it well. Contact us today to get a policy.
