Insurance and Trust |Boat Insurance | Jennifer Versaggi

Insurance and Trust |Boat Insurance | Jennifer Versaggi

auto, life insurance

Living in Florida, there is nothing more fun or exciting as boating in the summer. It is no wonder that 75 million people participate in recreational boating in the United States according to the 2012 data from the National Marine Manufactures Association. However, many people are confused and not sure as to what boat insurance is and why they need it. Below are just a few basics to get you started.

If you are new to boating, you may think that your homeowner’s insurance policy will magically stretch to cover your boat. Sadly, this is not the case. Your boat has absolutely nothing to do with your home’s policy, just like your car can’t be covered under your homeowner’s policy. Boats are unique and require a separate policy. However, depending on the carrier, you might be able to bundle your boat policy with an auto or homeowner’s to receive a premium discount.

In some ways, your boat policy is a combination of a homeowner’s and auto policy. Like home insurance, a boat policy covers you for liability if someone is injured on your watercraft and gives you the choice between replacement cost or actual cash value in a total loss. Like auto insurance, boat coverage typically includes coverage for bodily injury that your boat inflicts on others, and property damage your boat inflicts in a collision with a dock or another boat. You can also purchase comprehensive coverage against theft, vandalism, fire and flood, personal property coverage for your fishing gear, uninsured boater insurance, and even roadside assistance in the event you need a tow.

Now you know some of the basics of boat insurance. If you have further questions about boat insurance and what is covered or not, please call our agency and one of our representatives can you help you. .

Insurance and Trust | Is your Bling covered? | Jennifer Versaggi

Insurance and Trust | Is your Bling covered? | Jennifer Versaggi

events, Uncategorized

Guess what?…Your homeowner’s or renter’s policy doesn’t cover your engagement ring and other fine jewelry for loss or damage, and your policy likely provides only small and limited amounts in the event of theft. For example, most homeowner’s policies will pay a maximum of only $1,000 for jewelry theft, and a typical renter’s policy has even lower limits of $500.

The good news is that you can purchase a policy to cover jewelry for reason other than theft, such as being lost, or damaged! When purchasing this type of coverage, here are some questions you might want to consider asking:

– Is an appraisal required? The answer is typically yes, if you want a particular item scheduled. For example, an engagement ring, Rolex watch, or a family heirloom which has sentimental as well as monetary value.

– Are items covered no matter where they are?

– Would the policy cover you if you travel domestically or internationally?

– What if you lost your ring or other piece of lewelry while boating?

– Are items covered for full replacement cost or only for a certain level or cash settlement?

– If a piece of jewelry is damaged, will the policy cover repairs?

Contact us with any questions you may have today! These are just some of the issues you should consider when talking with your professional to make sure the pieces you love are protected.