Boat Towing Insurance - All You Need to Know About Boat Towing Insurance!
When you own a boat, one of the things you'll need to do is transport it.
If an accident occurs while you're towing the boat with your car, your auto
insurance won't cover it, and neither will most standard boat insurance. Boat
towing insurance is an add-on to most boat insurance policies, and it has the
fee you'd expect. This is one kind of boat towing insurance. The other kind
covers the cost of having a stalled or damaged boat brought back in to shore.
It's also important to have this kind of coverage, because water towing can
be quite expensive. This towing insurance is also not usually part of a standard
or basic boat insurance plan.
The amount you'll pay for water towing will depend on the distance to be covered,
as well as the size of the boat to be covered. Premiums on boat towing insurance
will be adjusted appropriately, based on the length and weight of your boat.
Make sure, when your boat is being towed, that you are being charged for towing,
and not salvage. Towing is charged by the hour, whereas salvage, the successful
and voluntary rescue of any boat, passengers, or cargo, can wind up costing
you a percentage of your boat's value. Since many assistance companies provide
both options, it's important to be clear about which you are getting. Towing
insurance may not cover salvage costs.
Towing insurance is an important addition to any
boat insurance policy. It protects you against unexpected fees in the case
of a breakdown, either in towing the boat to the water, or on the water.
Because towing fees can be very high – more than getting you car taken to the garage – knowing
that the insurance company will pay for the cost of boat towing takes one more
source of stress away. Don't make the mistake of thinking that you're immune
to a breakdown or accident. Towing coverage is especially important if you
have a very valuable boat, and is well worth the cost of premiums in this case. So make sure it is included when you get a boat insurance quote.
The details of boat towing additions to your boat insurance policy differ
by insurer. This means that it's important to find out how your insurance provider
will handle a situation that requires towing. Some insurers cover salvage and
towing at the same time. Some do not. It's vital that you know whether or not
your towing or salvage will be covered at the time it happens. Because of this,
be sure to know your insurance plan and insurer very well. Boat towing insurance
will help protect you. Sometimes bad things happen that only damage your boat
or stop it dead in the water. Since conventional plans only pay for direct
damage or loss of your boat and property, you could wind up paying a lot just
to get the boat back to shore. Boat towing insurance is the best protection
you can buy against this eventuality.