Sherrod’s boat was covered under his homeowner’s policy but the boat needed to be salvaged in order to find the cause of the loss. Once the boat was brought up the insurance company only reimbursed him 5 percent, or $200. Now Sherrod is a firm believer and proselytizer of people “being familiar with their insurance policies.”
While boat insurance is not required it is recommended according to Charlie Sledd, a Virginia Department of Game and Inland Fisheries official. The Boat Owners Association of the United States, BoatU.S., is “the nation’s largest recreational boat owners group and specializes in marine insurance and says a good driving record helps, as well as boater education.”
If you own a boat marine insurance is probably the more specific insurance tailored made for your specialized type of need. The cost of the insurance varies as well depending on where you use your boat, lakes, rivers or coastal waters.
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