Boat Insurance Add-ons and Riders

A policy owner can increase their coverage by adding riders to a policy to cover hobby equipment kept on the boat, upgrades to the watercraft, etc. This article explains the most common riders and add-ons for a boat policy to protect your watercraft investment in the waters of Kissimmee, FL, and elsewhere.

Customizing a Boat Policy

Familia Insurance Agency helps customers customize their boat policies to provide for the contingencies most common to their boat use. This coverage includes property on the watercraft and events that can happen to it.

Specialized Coverage Rider

Using your boat for fishing in deep waters can require radar for success. Ensure that the radar system gets insured against loss or damage with specialized coverage. Use this type of coverage to protect a navigation system or motor upgrade. This rider typically provides actual replacement cost coverage.

Consequential Damage Add-on

When you add consequential damage coverage, you protect yourself from financial loss from wear and tear to the watercraft. It covers items like corrosion, rot, mildew, and mold.

International Cruising Coverage

Fishing or traveling may take you and your watercraft into international waters. International cruising requires a rider, so your coverage extends to other nations. Of course, accidents happen everywhere, so it also makes sense to cover rescuing your watercraft if something happens to it out in the deep blue.

Salvage Cost Rider

This rider covers marine salvage, whether your boat gets damaged so it cannot return to shore or you must abandon it for safety’s sake. The salvage insurance also covers the cost of retrieving your cargo.

Towing Coverage

Sometimes, you run out of gas and need a tow to shore. A towing add-on pays this cost so you can return to the marina. Because a tugboat tow costs a lot more than you think per hour, a few dollars per month can save you a lot of money when you need this service.

Contact Familia Insurance Agency Today

Let Familia Insurance Agency, serving Kissimmee, FL, help you customize your boat policy. Contact us today for an appointment.