Wednesday, July 22, 2015

Is Your Boat Lift Covered Under Your Insurance Policy?

What's the first thing you do when you buy a new home, car or boat? You insure it! So why would your boat lift be any different. You need to make sure your total investment in your boating lifestyle - which includes the boat, dock, lift and accessories - is protected. Your current insurance policies may not include your new boat lift at the Lake of the Ozarks.

Boat Insurance 

Every boat owner should check their policy to see what exactly is covered. Standard boat coverage usually applies to watercraft with motors, fishing boats, pontoons, leisure craft and yachts. It may cover collision damage, property damage liability, bodily injury liability, or comprehensive for your boat. However, it doesn't typically include PWCs or small watercraft and boat lifts are also not usually included.

Boat Lift Coverage

Most boat and boat dock protection policies do not include other equipment like boat lifts and hoists, unless you purchase a premium package or specifically add coverage for it. Therefore, it is important that you add it to your existing policy or purchase a separate policy to cover it. In case of dock failure or extreme circumstances, you want to make sure your investment in a Lake of the Ozarks boat lift is protected. Boat lifts are a valuable piece of equipment and can cost a lot to replace if not properly insured. Be sure to check your homeowners policy as well to see if it would include a boat lift before investing in additional coverage.

Make sure to purchase a policy that meets your needs. You don't want more coverage than the lift is worth, but you also want to make sure that you're covered for most scenarios and situations that could happen to your boat lift. Try to get your boat lift insurance at the same place as your boat and homeowners insurance because often times you can take advantage of bundling discounts. Be sure to keep Summerset Boat Lifts in mind if you do need to file a claim and have your boat lift repaired or replaced.

1165 Jeffries Road Osage Beach, MO  65065

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