How to Insure Wooden Sailboats
Wooden sailboats are reminiscent to earlier times when boats didn't have motors. The pleasure and power of sailing harnessing the wind to accelerate through the ocean or lake. However even though there is less to go wrong in a sailboat than a motorized boat, Murphy's law is still in force and a good wooden sailboat insurance policy is a good idea...just in case.
- Contact your local marina as to the insurance agent they recommend.
- Have your title, bill of sale, boating licensing and ask about any other documentation required to insure the vessel.
- Verify current used value of the boat, including any modification or customization.
- Inquire about having your boat assessed.
- Notate improvements needed to bring up the value of your vessel.
- Unlike most cars, a boat retains it's value if properly maintained. A boat that is a century old can be in excellent, seaworthy condition and have historic value as well.
- Go shopping. Compare rates, items and services offered by different companies. Try to get the most for your money.
- Consider a comprehensive plan that covers not only property value but the medical as well.
- Inquire about deductible plans. Some companies offer a "vanishing" deductible. When you stay with a company without filing a claim and making regular payments some companies reward the consumer with a lower deductible when they do file a claim.
- Compare the different policies from companies who offer packages including home, auto, life, renters/mortgage and boat vs those who specialized in boating insurance. Bundling is a way to save money. However, specialized insurance plans offer services that bundling may not have.