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If you are hanging out on your boat this summer in your board shorts and a t-shirt, fishing, drinking an arnold palmer wondering how you can save more money on boat insurance policy, then I have good news for you.  I have a great way for you to save money on that boat insurance.  I know that coverage is important, however for many consumers price is too. Many people think that just like your cars, you have to have a separate policy for your boat.  However, that is not the case. If your boat qualifies, try adding it to your homeowners policy for a big savings.  

In my office, I would say about 90% of the time it is cheaper to add it to a home policy instead of starting a separate policy for my clients.  And for the most part, coverage is  the same.  You can still get physical damage, comprehensive, Emergency towing and assistance, coverage for boat motor, trailer, personal property and accessories such as anchors, oars, life jackets, fuel tanks and batteries, canopies, furniture, stove, refrigerators, emergency devices, trolling motors, dinghies, and band radios in or on boat.  Pretty much the only time that I start a separate boat policy is because the owner of the boat doesn’t have a home policy or the boat is extremely large, fast or valuable.  

Most companies don’t have a problem adding a standard pontoon, fishing or recreational boat to a homeowners policy.  Each company is going to have their own eligibility guidelines but their are always exceptions to the rules.  It’s always best to talk to an agent whether your boat would be best covered under a home or boat policy.  

Photo by Carlos Porto. Published on 03 June 2011
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