The sun is shining, the water is warm and boating season is upon us. By now you’ve probably prepped the boat, made sure your boating license is valid and planned outings with family and friends, but have you looked at your boat insurance? There are many coverage options available in Hawaii and using a local, independent agent guarantees that you will have many coverage options, so you can pick a policy that suits your needs before heading out to the water.
The 411 on boat insurance in Hawaii:
- Bundling: It may not be possible to bundle your boat insurance with an existing policy, like homeowner’s insurance, as there may be restrictions on the type of boat you own. In order to fit under a homeowner’s insurance policy, boats may need to be under a certain length and under a certain price point. There is a down side to having your boat covered under a homeowner’s insurance policy: specialized coverages may be limited or not available.
- Specialized Coverages: These types of coverages can include On-Water Towing, helpful when your boat runs out of gas or has a mechanical issue mid-outing. Fuel Spill and Wreckage Removal may help keep you covered in the event your boat leaks fuel or if there is an accident; otherwise you may be on the hook for clean-up expenses. You may also want to consider Uninsured Boater coverage. Just like Uninsured Motorist coverage for your car or truck, this may help with expenses if your boat is hit or damaged by another boater without proper boat insurance coverage. Specialized Coverages may also include Personal Effects coverage.
- Travel: Planning to sail your boat through international waters? Some insurance plans may cover waterways in the continental U.S., but may not cover international waters or may only cover a boat in international water within a certain mile radius from the U.S. coast. Check with your agent to see if your plan coverages international travel.
- Replacement: We hope that you never have to replace your boat due to an accident. In order to avoid costly out-of-pocket expenses to replace your boat, make sure that you have the appropriate replacement coverage in place long before you hit the water. There are two options for replacement coverage: Total Loss Replacement and Agreed Value coverage. Total Loss Replacement is just that, a replacement of your boat. However this type of coverage may not be offered by all insurance carriers, more likely than not the carrier will provide Agreed Value coverage. This is the value of your boat, agreed upon by you and your agent before you sign the policy.
There are many options out there when looking for boat insurance in Honolulu, Hawaii and your local independent agents at Carr’s Insurance Agency can help you navigate your options to find the best coverage for your needs. They can also assist with a personal watercraft policy for your other water-traveling toys. Whatever your insurance needs, talk to the experts at Carr’s Insurance Agency. Their years of insurance experience can save you a bundle! You can also visit their insurance website 24/7 to learn more about the other valuable insurance products they offer.