Summerset Boat Lifts: insuring your boat lift

Friday, August 11, 2017

Insuring Your Boat Lift

The Lake of the Ozarks area offers some unique situations when it comes to insurance. If you own a home on the water with a dock, you need to make sure that dock is insured as well. Insurance can be complicated, so it's important that you work with a local agent to ensure you have the proper coverage for not only your dock, but also your Lake of the Ozarks boat lift.

Boat Insurance Policies

Just like with auto insurance, you need boat insurance. What exactly does that boat insurance include though? Unfortunately, your boat lift is not covered under most of your typical boat insurance policies. Those policies just cover the vessel itself. Think about it; your auto insurance doesn't cover your garage does it? So why would your boat dock or lift be any different. Typically you have to buy a premium policy or add coverage to insure your lift. Talk to a local insurance about your options. Your lift is an investment just like your boat and you want to make sure that investment is protected too!

Homeowners Insurance Policies

Many homeowners believe that their dock and lift are part of their property and their homeowners insurance should cover these items. Unfortunately, that's usually not the case. While homeowners insurance can sometimes extend to the dock, your insurance agent needs to be aware of the dock and value of that dock. When ensuring coverage for your dock, it's important that you not only have physical damage, but also liability. Docks can be a dangerous place if caution isn't taken, and you'll want to make sure you're covered if someone were to get hurt on your dock. As for the physical damage coverage, make sure you understand what circumstances are covered, wind, fire and snow all need to be considered. During the winter season, heavy snow storms have been known to severely damage or even collapse docks at the Lake of the Ozarks.

Protect your boat and protect your boat lift, not only with insurance, but also preventative maintenance. Summerset Boat Lifts is here to help with all your Lake of the Ozarks boat lift repair and maintenance needs. Give us a call at 573-348-5073 and be surprised at how fast you see a representative from our boat lift company at the Lake of the Ozarks out on your dock!

Summerset Boat Lifts

1165 Jeffries Road Osage Beach, MO 65065

573-348-5073

Email:info@summersetboatlifts.com

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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.