Your boat is your ticket to fun water activities and one of the best ways to make priceless memories. That is why you should take your time to select, budget, and buy adequate boat insurance. When considering how much coverage to buy for your watercraft in Easton, MD, Ashley Insurance recommends asking yourself two questions; how do you intend to use the boat, and how much do you have to lose. Let’s discuss these in detail.

How do you intend to use the boat?

How you use your boat determines how much insurance you will need. If you will be using your boat for recreational purposes, it’s obvious that you won’t be in the water all the time but on specific days, especially during summer. That means you can buy a half policy to protect the boat when in the water and store it when not in use. If you want to fish, you need to get commercial insurance to protect your commercial activities.

What is the cost of your boat?

The size, type, and cost of your boat also come into play. Your insurance company will want to know these details to determine your premium rates. Typically, costly motorboats can be expensive to insure, especially if you’re using them for sporting activities.

How much damage can you do to others?

How often you use your boat plays a significant role in determining the amount of insurance, as it all comes down to damage. If you’re operating your boat every day, you’re at a higher risk of injuring yourself or other people, which can quickly turn into a lawsuit. Lawsuits are quite expensive in Easton, MD. You may want to get enough liability and think about other coverages that protect you and your passengers, such as medical coverages.

Let us help you

At Ashley Insurance, we care about your financial investment plans. That’s why we help our customers get the best policies they can afford to protect their assets. To learn more about our policies and the entire purchase process, feel free to call us.