Category: Boat/Watercraft Insurance

Choosing the right boat insurance for you means that you will be purchasing adequate coverage for your vessel. Additionally, you can save money by only paying premiums for the coverage you need. The insurance experts at Carr Insurance Group developed this guide to help you choose the right watercraft insurance for you in Maryville, TN.

Boat Insurance: What You Need To Know

1. What Type of Vessel Do You Have?

If you own a small boat like a canoe or small sailboat, a homeowners or renters insurance policy with limited property coverage will be enough, and you don’t need to get boat insurance. However, if you have a larger and faster boat, you will need dedicated watercraft insurance with several add-ons.

2. Understand the Types of Watercraft Insurance Options Available to You

There are various watercraft options available to residents of Maryville TN, such as;

• Vessel damage: This policy covers your boat if it’s damaged by natural disasters, vandalism, collision, and theft
• Personal injuries: This watercraft policy covers the medical expenses of your passengers in the boat, and you
• Equipment loss: This coverage takes care of damaged permanently attached boat equipment such as motors and anchors
• Property liability: This policy provides coverage for damage that your vessel causes to other people’s property
• Passenger liability: This coverage takes care of the property damage and injury to persons that occurs when a passenger drives the vessel with your permission

3. Assess Your Risks

Analyze the risks that your boat is likely to encounter and purchase insurance for the first. For example, vessel damage and property liability are a must-have if you regularly sail your boat near other boats. You can forego passenger liability if you never bring passengers aboard your vessel. Only get watercraft insurance for the risks that apply to your situation.

Contact Us Today

Do you have more questions on watercraft insurance in Maryville, TN? Insurance experts at Carr Insurance Group are ready to provide answers. Call us today.

Purchasing a boat is no child play, given the amount of investment involved. It’s a considerable investment you probably have worked for months or years to accumulate. But have you thought of how you would protect that investment? Well, one sure way of safeguarding it is purchasing boat insurance. You may think that boat accidents don’t’ often happen, but it’s vital to protect your valuable investment when the unthinkable strikes.

 While boat insurance isn’t mandatory in Tennessee, your lender might insist you carry boat insurance all year long. However, whether boat insurance is compulsory or not, there are a million reasons why you should purchase one. Carr Insurance Group has broken down some benefits associated with boat insurance. Let’s explore

Offers property damage coverage

Boat repairs are significantly high. You could be forced to dig thousands of dollars from your pocket if your boat needed repairs. But with a good boat insurance policy, you are at ease as all these repairs are covered.

It covers physical injuries

When you get involved in a boat accident, it could result in injuries that need treatment. With boat insurance, it covers treatment and hospitalization, and to some extent, the policy may cover wages for lost work. Convenient right?

It provides liability coverage

Accidents also happen in the water, just like on the road. If you are at fault for an accident that involved another watercraft or a person, you are liable for the expenses. Bear in mind that boat accidents can be tremendously costly, but boat insurance covers these costs.

Provides uninsured boat coverage

Not every boater on the water has insurance. If an accident happens and the uninsured is at fault, the damages are still actual and need repairs. If you have uninsured boat coverage, you can rest assured the policy will foot the bills.

Boat insurance in Maryville, TN

If you were debating on whether to have boat insurance, there you have it. Boating is all about fun and relaxation, but without boat insurance, you will constantly be stressing over any potential accident. Stress out no more. Get in touch with Carr Insurance Group for an affordable quote.

Carr Insurance Group assists the Smokey Mountain Community community by offering residents multiple types of insurance policies. We strive to help our clients find coverage that will exceed their expectations. As an independent insurance agency, we have established positive relationships with multiple carriers throughout the state, which allows us to offer our clients a wide variety of choices.

Common Misconceptions About Boat Insurance

During the summer in Maryville, TN, many people enjoy taking their boats out near the open water. While you are enjoying a peaceful and relaxing time, it is important that you have some protection. Boat insurance will cover you in the event of unforeseen circumstances. While you are researching different policies, avoid some of the popular misconceptions about boat insurance policies.

Many people believe that all boat insurance coverage is the same, and that is incorrect. You will receive different coverage based on the type of boat that you have. The type of accessories on your boat is also a factor. If you have special accessories on your boat, you can amend your policy to be covered if they are damaged or stolen.

The areas where you operate your boat are also important. Your policy will likely contain a clearly defined area where you are allowed to operate your boat. If you operate your boat outside of that area, you may not be covered. Keep that in mind, while you are researching policies. Even if you don’t operate your boat regularly, boat insurance is a vital asset to have. You can amend your policy to cover your boat while you have it in storage.

Carr Insurance Group Will Help You Protect Your Boat

Contact our office in Maryville, TN  today to learn more information about different boat insurance policies.