If you need boat insurance, we at Land Home Insurance Services near Concord, CA can help you understand your options and ensure you are satisfied with your results.
Agreed Value and Actual Cash Value Policies
Boat insurance breaks down into two different types, including agreed and actual value policies. They are essentially the same except for how they handle your boat’s value deprecation. The agreed-upon policy will cover your boat based on its value at the time of the policy. This option works best if you have extra money for a policy because your value will not depreciate in the eyes of the policy.
The actual value is the opposite: you pay less money but lose value on your boat as it ages. This option works best for smaller or low-value ships that wouldn’t cost much to replace. It’s also good if your ship is not likely to fail or go bad on you any time soon. Otherwise, agreed value policies are often the best option, particularly for regular boaters or even professionals.
Individual Policy Types
- Personal Watercraft – Designed for small boats used for fishing or recreation.
- Yacht – Boats bigger than 27 feet are called yachts and require different policies.
- Sailboat and Dinghy – These policies cover boats that fall under these headings.
- PWC Rental – Rental insurance helps protect you if you rent your boat to others.
- Boat Clubs – If you belong to a boat club, their policy may protect you.
- Professional Insurance – If you fish or charter your boat, you need professional insurance.
Consider a Policy With Us
Do you need a boat policy that suits your needs? Then please, call us at Land Home Insurance Services to learn more. We provide policies for many boasters in and around Concord, CA.