Understanding Boat Insurance Coverage

With over 75 million people in America involved in recreational boating (As per the National Marine Manufacturers Association) – it is hardly surprising that boat insurance rates in CA is a topic that interests so many. However, for many boat owners, the concept of boat insurance remains unknown.

What is Boat Insurance?

Boat insurance covers a boat owner in the event of a loss or damage caused to the boat. It covers most types of water-based vehicles that run on motors, counting fishing boats, paddle boats, yachts and leisure boats. A boat insurance policy won’t however, cover PWCs (personal watercrafts), kayaks or canoes.

boat insurance rates in ca

Boat Insurance Rates in CA – The Essential Information

  1. What is Covered?

Boat insurance policies usually include coverage for any physical injury that the policy holder’s boat imposes on other boats, docks, and people. It also covers any form of physical damage caused to the policy holder’s boat in case it hits something. There are several options for purchasing inclusive coverage against burglary, wreckage, fire, and floods. Liability coverage can also be purchased for personal items such as fishing equipment and also curb assistance in case the boat needs a tow.

Contrasting to home and auto insurance, most insurance agency services in California allow policyholders to suspend coverage for definite periods of time when they are not using the boat.

  2. What is Not Covered?

In case the insured boat is being transported on land boat policies will not pay for –

  • The loss of life
  • Physical Injury
  • Property damage

If the boat is damaged when parked on the owner’s property, it falls under homeowners’ insurance policy. Since terrestrial liability is not included in boat insurance policies, it is advisable to protect the boat and the assets in the boat from land trouble by getting in contact with some of the best insurance agents in California and securing a detailed umbrella policy.

Most boat insurance policies also mention a navigational warranty. Only the inland waters of America and Canada are covered. It is advisable for the boat owners to contact independent agents in California to be certain of the regions up to which their policy offers coverage since it may not include some areas for security or political reasons.

The average boat insurance rate in California

On an average, yearly boat insurance rates in CA can range from a few hundred to $1,000. Rates are based on the type of boat and the profile of the boat owner (history of boat insurance claims, credit score, driving record, age, etc.) What also matters is the type of boat – the length and size of the boat, the horsepower of the boat. In most cases, boats that have higher horsepower engines are given costlier boat insurance rates in CA. Another factor that plays a huge role in determining the insurance premiums is the expected use of the boat. If the boat owner only intends to take his boat for sporadic fishing trips, the rates will naturally be lower than that for a boat owner who intends to paraglide. Rates for speedboats, small fishing boats, and yachts differ a lot on rates. On an average, the most basic boat insurance package will cost $500 a year.

Promax Insurance Agency is one of the best and trusted providers of boat insurance policies, offering the affordable boat insurance rates in CA. It is a reliable organization that has been a leader in the industry for over 45 years. The agency is presently operating in the following cities and counties –  Aliso Viejo, Anaheim, Brea, Buena Park, Cerritos, Chino, Costa Mesa, Corona, Cypress, Dana Point, Fountain Valley, Fullerton, Fontana, Garden Grove, Huntington Beach, Irvine, La Habra, La Palma, Laguna Beach, Laguna Hills, Laguna Niguel, Laguna Woods, Lake Forest, Long Beach, Los Alamitos, Mission Viejo, Newport Beach, Orange, Placentia, Pomona, Rancho Santa Margarita, San Clemente, San Juan Capistrano, Santa Ana, Seal Beach, Stanton, Tustin, Villa Park, Westminster, Yorba Linda, Los Angeles, Riverside, Orange County, San Bernardino, San Diego, Sacramento, Sunnyvale, Santa Barbara, Santa Clara, San Luis Obispo, Fresno, Monterey, Whittier, Norwalk, and Southern California.