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Insuring Your Boat for Transport

sinking boat

Your boat is your pride and joy, and you'll do anything to protect it from harm. Get boat insurance for transport to guard against accidents, damaging weather and theft which are distinct possibilities while your craft is being transported. Your boat insurance provider most likely will not cover damage to your boat while it's being transported by another party. Therefore, before hiring a boat transporter, you will want to make sure the company has adequate insurance in the event that your boat should become damaged during its move.

"You can't be too careful when it comes to checking on a potential boat transporter's insurance coverage."

Why should I obtain boat insurance?

All legally authorized boat transport companies are responsible for carrying a minimum amount of cargo and liability insurance, that may be the only kind of insurance that will cover damage to your boat as it's transported. Keep in mind the following as you investigate a carrier's insurance policy:

Double-check your transporter's policy information: You can't be too careful when it comes to checking on a potential boat transporter's coverage. Get a copy of the policy, then call their insurer to validate that the company is insured, and that the policy is still active. You can also check www.Safersys.org, the Federal Motor Carrier Safety Administration (FMCSA) Safety and Fitness Electronic Records System.

Personal insurance policies: If a prospective transporter does not have commercial insurance - and for some reason you haven't already ruled them out - do not accept personal insurance as a substitute. If your boat is engaged in a commercial activity, such as being transported, personal insurance will no longer apply. Boat transporters that have been legally authorized must provide a commercial insurance policy to carry property that they do not own. Their policy must include cargo insurance.

Have your boat appraised: Make sure your carrier's coverage will cover damage equal to or greater than the value of your boat. If you find that the transport company's insurance will not cover your boat, ask them to purchase short-term additional coverage and get a copy of the short-term policy.

Find out in advance how to file a claim with your transporter's insurer: Should damage occur, you will want to know what the deductable amount is, and how to initiate a claim.

Cost comparison of boat insurance quotes

Always get a cost comparison of boat insurance quotes prior to purchasing insurance. You may find a less expensive option - or the quote may simply give you more bargaining power with the company you want to go with.

Next PageInsurance carriers provide a financial security net for your boat hauling needs, but there are some additional ways that you can insure your boat's safety. Read about securing the boat and removing items for storage on the next page.