Strangely enough, yes.
If you own a boat, especially a classic, it is common knowledge that other than all the fun on the water plenty of work awaits when the boat is on land. In some cases, that work may require a significant time of labor ranging from months to years. In this regard, as a boat owner, you should consider taking a coverage for “out of water port risk”. This is basically an insurance coverage that protects your boat as long as it isn’t launched.
However, the task sets in when finding the right policy for your boat. And that is why we at Cullman, AL, Insurance Solutions Inc. want to ensure to have the right information to enable you insure your boat correctly.
Taking coverage against out of port risk does not fall under your boat policy. Supposing the boat is attached to your truck, then your auto policy will cover you. Anytime you are transporting something, the vehicle policy is responsible. Unfortunately, your boat on transit will only be catered for if it is within the limits contained in the auto policy. So if you live in Cullman, AL it is advisable to clarify this aspect with an insurance agency.
On the other hand, a yacht policy will not cover any property damage, injury, and loss of life that takes place when the boat is out of the water. Your homeowner’s insurance may be of help but only if the boat is damaged while situated on your property.
Therefore, in order to fully protect your boat from terrestrial danger, an umbrella policy stands out as the best option. In case of an injury, an umbrella policy overrides both the auto and homeowners policies. If you possess a boat in Cullman, AL, it is not only an extra asset but another opportunity for risk. At Cullman, AL, Insurance Solutions Inc. we do our best to guarantee protection of your most valuable investment, contact us today!