Boat insurance could be one of the best investments you make if you are facing a significant loss. Boat insurance may provide some protection even for your blown engine. However, there are various limitations to this type of coverage. You need to plan for and understand what those losses and risks are before you head out on the water, especially when the risks of engine failure are high. What can you expect if your engine no longer works?
Maintenance is Key
One of the biggest differences in whether or not you can receive coverage for a blown engine comes back to the cause. What caused your engine to fail? If that loss stems from normal wear and tear or because of poor maintenance, your insurance policy may not cover your loss. That’s important because if the claim is for a loss that is normally covered, but there is evidence that you didn’t maintain your engine, the claim can be denied.
When can your comprehensive boat insurance policy help you, then? If the engine goes bad because you are involved in a covered accident the insurance company is likely to help you. If the manufacturer’s defect caused the loss, then you may be able to obtain coverage for that risks as well. Every situation is very different. Perhaps you are out in the water with your well maintained engine and it is involved in a collision with an object or is damaged by the conditions. Whether or not your boat insurance can help you depends on your policy.
What You Need to Do
There are several things you can do to help protect your investment. First, purchase a high-quality insurance policy that protects against as much damage as possible. You also should have a log of the maintenance that you’ve done on the boat’s engine. Be sure this is at least as much as the manufacturer recommends. And, if you are taking your boat out into dangerous conditions, step and take the time to ensure your insurance is there to protect you. Adding more coverage or specific risk coverage may help to save you money later if an instance occurs that leaves your boat unable to be used because of the blown engine.
Are you covered? Call The Weimer Group at (877) 791-1707