Your boat is made for fun, but sometimes accidents happen. Boats need boat insurance to protect them from financial liability if a covered event occurs. At Wichalonis Insurance Agency, servicing Cumming, GA, we help our customers find the right insurance for their needs. If you own a boat, your boat insurance can help you have fun without worrying about financial liability. Below are some important questions to ask when trying to buy watercraft insurance. 

1. Will personal property on the boat be covered?

If you’re using personal property on your boat – whether it’s a life vest or a laptop computer – it’s important to ensure that your insurance policy covers personal property. Find out what your watercraft insurance policy covers and what the limits are.  

2. Is my boat covered by my homeowner’s insurance policy?

Some homeowner insurance policies will allow a small amount for a boat while it is on the property. However, this is rarely enough to cover the actual value of the boat and will often not cover if the boat is off the property or in use when the event occurs. 

3. What will the monthly premium be?

Of course, it’s important to know how much you’ll pay for your boat insurance so you can fit it into your budget. Your insurance agent can shop around with various carriers to help you find one that works for you. 

4. Will the policy pay for the agreed value or for the actual cash value of the boat? 

The agreed value of the boat and the actual cash value of the boat may be very different. If your policy is paying for the boat’s actual cash value, this may not be enough to replace the boat in the event of a loss. Your agent at Wichalonis Insurance Agency, servicing Cumming, GA, can help you find a policy that offers the right level of protection. Call today.