Watercraft

One of the key things to realise before embarking on insurance for your watercraft is to be clear about which type of policy you actually need. The way to differentiate between the two is actually fairly easy. A good rule of thumb is as follows:

Boat Insurance - Watercraft that are up to 26 feet in length

Yacht Insurance - Watercraft that are 27 feet and over in length

Once you have established which type you need (you will find that most boat insurance companies will offer both) then here are two important factors that you need to bear in mind before finally settling on which policy to get:

1/ Agreed Value vs Actual Cash Value Settlements - You want to be clear about this ahead of time, because an agreed value settlement is far more favourable to the boat owner, and an actual cash value settlement is much more favourable to the boat insurance company, because it factors in asset value when the loss, theft etc was ACTUALLY suffered.

In practice this is likely to give you a headache, because unless you are an actuary you are going to have a hard job knowing what the insurance would pay out at any particular point.

So, for a quiet life, and the sake of your wallet, you should always get an agreed value policy wherever possible.

2/ Deductible Amounts - Make sure that you are clear how much the deductible on the policy will be. This can vary much more than you might think both from policy to policy, but also depending on the type of accident that the boat suffers that requires you to seek a settlement.

For example, hull damage is likely to be a 3% deductible on a yacht, but windstorm damage is likely to be a totally different amount.

Make sure you know what they are.

The best way to proceed is to get yourself a boat insurance quote right now so that you can immediately get a feel for how much the policy will cost. In this way you will be better prepared, and can better gauge the differences between the policies.

When you are considering yacht insurance the first thing that you have to consider is whether you want a plan that covers a single voyage, or a plan that is based on a particular period of time.

Single Voyage Yacht Insurance - This covers your yacht when you are undertaking a specific voyage that you have agreed previously with the insurance company. This can be a good plan to go for if you don't use your yacht very often, and most of the time it is in mooring. You should however remember that this is NOT a comprehensive policy, and that if your yacht suffers damage in dock (perhaps because it got hit by another boat, or some weather event like a hurricane hit it), then you would NOT be covered.

Time Based Yacht Insurance - This is preferable if you take a large number of trips with your yacht, and hence don't want to have to re-negotiate your boat insurance every time. This also has the advantage that whether your boat is in dock, or at sea you are still going to be covered, and hence it is not as worrying. The downside of this is that you are paying for the privilege.

With either of these two policy types it remains the case that your yacht insurance company will assess any damage based on whether the loss at hand is total or partial. In other words, whether or not it is possible for the yacht to be repaired, or whether it is a total write off.

In each case you should make sure that you get adequate cover for any losses you might suffer.

In considering taking out comprehensive marine insurance you are embarking on an important financial decision, because it is a fact that a boat is probably one of the largest expenditures you will ever make in your life.

If it is damaged in dry dock or out at sea than the cost to repair it will be considerable, and if you have a problem at sea then you also need to make sure that you have some kind of emergency cover in place for storm damage, hi-jacking and recover costs.

When looking for marine insurance quotes online you should endeavour to have certain information readily to hand so that your insurance can be readily arranged. With this the four things that virtually all online marine insurers ask for are:

- Hull Size

- Intended usage for the craft

- Engine Type, and

- Production Year

If you try to get boat or yacht insurance from a boat insurance broker offline then you will find that considerably more information than this is requested, so it is a good idea to get a few online quotes, even if you do end up seeking out more specialist advice from an insurance broker you trust.

You may well find that the quotes that you get online are in fact cheaper, because the amount of information is less, and hence the quotes tend to be more general. Clearly, before you sign any policy documents therefore you should make sure to double check that the policy is as comprehensive as you like, and that it offers both adequate protection, and the nuances of cover that you were seeking.

Securing boat insurance at an affordable price involves many different factors, and here are two of them to ensure that you can get boat insurance that fits your budget.

1. Shopping Around For Lots of Competing Quotes - Whilst this may sound obvious, it is amazing how few people actually bother to get multiple quotes for insurance. They get maybe one quote, and because it seemed like a lot of effort to fill in the form, or talk to a marine insurance broker, they simply purchase it.

What you should do instead is look around for as many different places as possible to give you a boat insurance quote. Because in that way not only do you get to compare the prices of the policies. You also get to compare the terms and conditions, what is covered or not, and the ways that the different marine insurance companies choose to pay out their settlements.

These can vary greatly between the different companies, so watch out for them.

2. Calculate How Much Cover You Really Need - There is no point in spending money on extra boat cover that you really don't need. If your insurance has an option to cover canals for example, but you have never been to a canal in your life, because there are only lakes where you live. Then there is no point in taking out the cover. It is simply an extra expense that you can do without.

Boat insurance policies are crammed with these kind of extras, and you can very quickly lower the costs of your insurance simply by eliminating the items of cover that you don't need.

The costs of boat insurance can be extremely high. In itself this is not surprising, because the cost to buy a boat has always been high, and has been increasing over the years as the costs for shipping yards to build boats has gone up.

However, if you consider some of the following factors then you will get a better idea about how the insurance companies price up boat insurance, and what is involved in the process.

These are steps that you should carry out even before you buy the boat, because they can really help to clarify in your mind how much boat insurance will cost you, and how much it is going to impact on your budget.

1. Start Planning BEFORE You Buy The Boat - It is a good idea to do some online boat quotes for any potential boat that you are considering buying, BEFORE you actually buy it. In that way you can get a clearer idea about what the future costs of the insurance may be, and whether or not you will be able to afford it.

2. Use Your Common Sense - You KNOW that a 50 foot yacht is going to cost more than a small sailing boat, so make sure that the cost of any insurance is factored into any cost price for the boat. Remember, this is more than likely an expense that you will have to meet EVERY year, and so a rough idea of what it will be is important in terms of overall cost implications.

3. Get Clear About Your Usage Patterns - Here are some questions to ask yourself about your prospective boat purchase:

- Where do you plan on using your boat? In the ocean? On a lake? In a canal?

- How old a boat were you planning on buying?

- How big a boat did you want? Are you flexible on the size?

- How experienced are you as an operator?

- Will you need to hire crew?

- Is the area you plan on using the boat prone to storms? If it is then your premiums will be more expensive.

If you consider these questions before you buy the boat, then you will have a much clearer idea about how much the whole boating experience may end up costing you.

Anyone who enjoys spending time in lake or ocean water riding a personal watercraft, often referred to as a PWC, should investigate purchasing watercraft insurance. Although recreational vehicles powered by inboard engines are fun to ride, they can also quickly become a source of financial liability should an accident or injury occur to anyone riding on or standing on a PWC. Although some recreational water vehicles accommodate one or two people at most, many models can hold as many as four individuals which increases the risk of accident or injury while operating the vehicle on the water. Many a friendship has been ruined when a watercraft accident occurs and the vehicle's owner neglected to insure the craft against liability for damage, accident or injury.

PWC or watercraft insurance provides the policy holder with coverage against accidents, liability or vandalism to the watercraft itself. This type of insurance covers the watercraft owner against being held financially liable whether they are riding the vehicle themselves or loan it to another person who misuses it or is involved in an accident or injury event while using it. Not all watercraft insurance policies offer the same benefits. When discussing obtaining insurance coverage for your PWC, there are numerous features to consider.

Watercraft insurance can be obtained to cover any damage that the vehicle does to a public or private dock or by coming into contact with another watercraft. If the PWC's owner is found to be negligent in operating the vehicle properly and an accident or death occurs as a result, watercraft insurance can help protect the owner against legal claims brought for bodily injury or wrongful death. A PWC owner can be protected by having insurance if they loan the vehicle to another party who is ruled negligent in operating the craft, causing damage, death or injury to other parties.

Another benefit to having proper insurance is if the watercraft is used to tow water skiers or wake boarders who are then injured. Another benefit to having insurance coverage to handling the cost of any physical damage that takes place to the vehicle's engine equipment, machinery or hull. A watercraft insurance policy can also provide protection against another watercraft operator who is uninsured, yet causes injury to your vehicle or anyone riding aboard the vehicle. Insurance coverage also means peace of mind when out on the water by providing towing assistance should the craft become disabled or run out of gas.

When reviewing any type of watercraft insurance policy, it is equally important to know what conditions are excluded from coverage. Some of these may include any vehicle that has been modified for speed and performance, if the watercraft is involved in an accident or injury while operating after dark, or if the operator of the vehicle cannot show a valid and current driver's license.

The type of watercraft that an individual owns also dictates the kind of watercraft insurance that they can purchase. Stand up PWCs in which the driver stands or kneels while riding on the craft is one type, while the other type PWC is the sit-down model which accommodates up to 4 people on the vehicle. PWC owners who already have boat insurance can often simply add a watercraft insurance policy to their existing boat coverage.

Super yachts are some of the most luxurious marine vessels that exist today, often being equivalents of a five star floating hotel. Usually super boats like this come with plasma screen TV's, internet connection, jet skis, wind surfers, scuba gear and even personal cooks. Knowing what a huge investment a super boat can represent, one should definitely insure it with super yacht insurance. Having your super yacht insured will provide you with peace of mind because in case of accidents that might cause losses you will be covered by the insurance company.

It is important to know what exactly super yacht insurance can cover for. Basically this type of insurance will provide the necessary coverage for any injury or damage caused by accidents that might affect your super yacht. Other perils that might be covered include explosions and fires, sinking and theft. As you never know what lies ahead, you can also choose a policy that covers for natural disasters such as storms and lighting. Depending on what your need is you can basically tailor super yacht insurance to fit your specific needs. For example you can choose a policy that will cover for the items that you have on your super boat. Considering that those items are usually very expensive, adding this kind of coverage will prove to be very wise. You can also add a third party liability clause in case your yacht might cause damage to a third party.

In order to get the best out of your super yacht insurance, you should have a clear mind about what all the things you want the policy to cover for. Once you established that, you can start searching for companies that offer super boat insurance. Never choose the first policy you find as you might miss out on better offers. Always compare policies before buying one so you know you made the best choice. You can compare various policies by going online. There you will get all the information you need and if you buy the policy online you might get discounts as well.

If you wish to obtain lower quotes on these insurance, make sure that your boat is in perfect condition. Also make sure you have safety equipment on board, best would be fore extinguishers and life rafts. Try to hire people that have been trained by a recognized institute and that have experience in sailing. All these things will attract discounts and lower premiums for super yacht insurance.

If you own a boat, you need boat insurance. It's just that simple. Before you actually purchase a policy, however, consider the following facts.

It pays to shop around when you're buying insurance. First, contact your current insurance company for a quote, and then research the rates of its competitors. Insurance agencies and insurance agents want to sell insurance, so it's likely that they will offer you incentives if you add boat insurance to your existing policies. If you can find comparable insurance at better rates from another agency, be sure to tell your agent. A counteroffer that benefits you both might be the result.

Some insurance companies will only cover the owner of a boat insured under their policy. In other words, if someone other than the owner operates the boat and an accident occurs, those insurance companies will disallow coverage. Ask your agent who is covered by your insurance company's boat policies. If they will only cover you, the owner, you may want to shop for a new agency.

Today many states require that boat owners carry watercraft liability coverage. This coverage protects owners against any damage caused to people or property by their boat due to its use, maintenance or ownership. Watercraft liability coverage also provides legal defense, and it protects owners in the event of collision, stranding, sinking, fire, theft and vandalism.

Insurance requirements, of course, are different in each state, so check with your insurance agent to see if watercraft liability insurance is mandatory where you live.

Wreckage removal coverage is an excellent optional policy for every boat owner to consider. In the majority of locales, wrecked or sunken boats must, by law, be removed, usually at the owner's expense, a process that can be quite costly. With wreckage removal coverage, however, the insurance company pays the bill.

In addition to wreckage removal coverage, boat owners should consider purchasing coverage that will pay for normal repairs as well as mechanical failure and towing.

Boats are pricey investments. They are not only costly to buy, but they are also expensive to maintain and repair. Likewise, replacing a wrecked or inoperable boat would not be cheap. That's why it is so important that you, as a boat owner, get the coverage you need to protect yourself from costly damage or loss that could ground your boat forever.

Along with man, all that he has created are being continuously evolving. This includes the houses, the tool, the vehicles so on and so forth. For example the Noah arks, which was the most ancient water craft mentioned in Bible has evolved into small personal boats. Along with the continuous evolution of man and his creation the level of danger has also risen. this is the very reason why man in modern day should take all precaution to protect himself and his property. One of the best way to do it is to purchase a good insurance policy. This way at least if any thing is damaged the insurance company will provide financial coverage towards the repair. In this article I will be talking about one such policy - the ski boat insurance policy.

Ski boats are basically high horse powered boats which are used to tow one or more water skiers across any water body. The boat is built in such a way that it can achieve high speeds within matter of time. These boats can also be used for personal use without have to tow skiers. Investing in such a boat is truly rewarding. If you plan to buy such a boat then you need to consider purchasing ski boat insurance.

There are many companies providing ski boat insurance. However it is important that you select a policy which is cheaper but still offers maximum coverage. The simplest policy available is the physical damage policy. This policy provides coverage if the boat is damaged due to accident or acts of vandalism. The second type of policy provides coverage if the damage is caused due to fire accidents. The third type of policy available is the third party liability policy, which protects the boat owner from being liable if the boat is involved in damaging third person property or injuring third person.

Once you have decided the type of policy which you need, it is time to go searching for a place where they offer cheaper quotes on ski boat insurance. The best place to start is the internet. There are a number of websites which provide a complete information on various ski boat insurance. Most of the websites also offer discounts and offering on various policies if they are purchased form there websites. The first thing to do is to log on those sites and then provide some basic information regarding the water craft and then they can start selecting the policy which suits their needs.

Before actually purchasing your new boat, check out the different types of boat marine insurance as marine insurance varies depending on the type of boat you are purchasing and different companies have bonuses and rewards that may not apply to all types of boats. The price of the many different types of boats available today will also have an effect on the type of policy and terms and conditions available to you.

Choose at least 3 reputable marine insurance companies to check out all relevant details for your boat.

Be sure to read fine print of each policy - you don't want any surprises in the event you need to make a claim.

To get a competitive price for your marine insurance quote ask at least 3 well known companies for a quote.

Check no claim bonus and if there is full cover on and off the water, also if boat excess is waived if your boat and car are both damaged and both insured with the one company.

You would want flexible payment options including monthly payments. Access to 24/7 Helpline assistant service would be important also and check the 24/7 claims service is paperless, making claims quicker and easier to finalise.

you need to check out every detail on the type of marine policy you choose as they are all worded differently depending on type of boat, sleeping capacity, number on board at any one time, facilities available, modifications, safety equipment and procedures etc.

It is important you choose the correct one to suit your vessel to make sure you are covered for absolutely any emergency when moored or at sea and check you have all the necessary equipment on board and policies are paid up and everything is in place before venturing out to sea.

if you are buying a second hand vessel it is advisable to have an expert go over the boat to ensure everything is in top shape before you hand over any money and make sure your marine insurance company is aware of all the details of sale and condition of the boat or the boat marine insurance may be invalid, which may possibly involve a lengthy and costly refit to ensure the vehicle meets strict marine insurance regulations.

Summer's almost here and millions of Americans will be taking to the nation's waterways in boats. However, before they back down ramps at lakes, rivers and at coastal communities, boaters should be aware of an additional concern other than seals, fuel systems, GPS units, live wells, fishing tackle and engines. That would be insurance. There's boat insurance and then there's better boat insurance.

The Boat Owners Association of America lists five questions boaters need to ask before purchasing an insurance policy. Making sure a policy covers these basic questions could save a boat owner thousands of dollars and lots of worry. The answers also could reveal whether or nor a current policy has much value.

The first question to ask a boat insurance agent is does his company pay salvage costs or does the policy put that burden on the policy-holder's shoulders? Most people purchase insurance to cover big-ticket items, such as the total loss of an automobile or home because of a wreck or natural disaster. In these days, with tornadoes flying around the South like pinballs, nothing could be more important.

In the case of boats, the most common catastrophic insurance claims involve sinkings or devastating wind storms such as hurricanes or tornadoes. They can destroy a boat, sink it or lift it into the next county and leave it in small pieces. In any of these cases, a policy's "salvage" coverage should pay to hoist the boat from the bottom of a body of water or from a neighbor's property. An effective policy should have separate and full salvage coverage up to the policy limits for the costs to remove the boat that isn't less than or limited to a percentage of its hull value (the part of the policy that reimburses for actual loss of the boat).

A less-than-adequate policy could reimburse for the loss of the boat but could make a boat owner pay some salvage fees out of his own pocket. Another question to ask an insurance agent is how much help will his company provide when a claim is filed?

In other words, insurance companies have two schools of thought when it comes to handling claims. One is a hands-off approach that makes the claimant do all the work. With a large claim, one type of insurance could make the boat's owner responsible for finding a salvage company, a crane company or barge and trucking company. The policy then would reimburse the policy holder for submitted expenses.

On the other hand, a hands-on company - usually a specialty marine insurer - has access to these services and knows how to negotiate pricing, hires and pays contractors, and can arrange for and guarantee repairs. A third question to ask is does a boat insurance policy contain consequential damage coverage? In the boat insurance universe, catastrophic losses such as fire, explosion, sinking, de-masting, collision and stranding are classified as a consequence. For instance, if a boat sinks because its hull fittings are rusted and break off, that's a consequence of the broken-through hull. Good boat insurance policies include consequential damage clauses that cover such specific catastrophes. More simply, if consequential damage isn't covered in a policy, expenses caused by a sinking or fire could be excluded totally because of a finding of wear and tear.

A fourth question involves how much involvement a boat owner needs to supply after an incident occurs. A good insurance policy offers immediate emergency claims response that can step in with resources needed to prevent further damage.

In the case of boat owners living in a hurricane-prone area, such as the North Carolina coast, the policy should share the cost of a haul-out to move a boat to high ground or pay a captain to move it to a safe place.

The last question to consider is what an insurance company does over time for a boat owner who doesn't have any claims and regularly makes premium payments. A good insurance policy should give such an owner credit for not having claims and offer diminishing deductibles for each year the boat owner files no claims. A boat owner who isn't satisfied with his agent's answers to these questions should start shopping for a better policy.

Your heart's racing, you're sweating profusely and you know all eyes are on you. First day on a new job? That recurring dream where you're standing in front the school in just your underwear? Nah, you're just riding high on your motorcycle, boat or watercraft.

You've waited all winter to feel this exhilaration, and now spring has finally sprung. But, before you back that trailer down the ramp or take your bike out of storage, you'll want to ask yourself one thing. Are your "toys" ready for spring?

Know Your Motorcycle

Whether you still ride with a death grip or have so many bikes in your garage there's no room for a car, you should know what to look for before twisting that throttle. Before you even step outdoors, you'll want to make sure you are covered with quality New Jersey motorcycle insurance. Of course you don't plan on having an accident or getting it stolen, but if bad luck comes your way, you'll be thankful you have the right bike insurance plan. Coverage of everything from Collision, Comprehensive, Medical Payments, Property Damage, Bodily Injury Liability, Pedestrian PIP/ Guest Liability and Uninsured/Underinsured Motorist Bodily Injury will go miles for you when you encounter unlucky situations.

Once you have your insurance squared away, it's time to think about your bike on the open road. Motorcycles, if winterized and stored properly, are relatively easy to get ready for the upcoming riding season. Here are a few quick-and-easy tips to get the most out of your motorcycle this season:

•Check battery terminals (clean, if necessary, with baking soda and water).

•Dry or apply an after-wash product, then dry.

•Check oil and other lubricants.

•Check cables and lubricate with applicable lubricants.

•Check tire pressure and wear.

•Check, charge or install the battery (positive/red lead first).

•Check all lights and signals to confirm operational and not cracked or broken.

•Check brake fluid level and brake pads/shoes for wear.

•Wash or apply a pre-wash and then thoroughly "bathe" your ride.

•Apply leather treatment to leather components.

•Check drive belt, chain or shaft.

•Polish and wax all chrome and painted parts.

•Add "octane" booster (if desired) to fuel according to directions.

•Clean inside of helmet with mild soap and let dry. Shine outside of helmet.

•Write down beginning mileage.

•Review any notes written before putting your motorcycle in winter storage.

BRACE YOUR BOATS

Whether you like it warm or cold, fresh or salty, the water is calling you and you boat. Are you someone that lives for the power you feel as you throttle up your twin outboards? Or do you enjoy harnessing the wind in your sailboat?

No matter your boating preference, before you jump in this spring, you'll want to be sure you have the right boat insurance policy to suit your needs. Accidents happen, so you'll want to insure yourself and your boat against liability and damage. New Jersey boat insurance agency Sharer & Associates can help you navigate the options for affordable boat insurance. Many policies provide coverage for Damage to other boats or docks, Bodily Injury or Death, and Medical Payments.

If you winterized your boat, you saved yourself some spring boat prep time and headaches. And that means the road between your boat and the water is shorter. What things should go on your to-do list and the shopping list? Here are a few general steps to take before you take the plunge:

•Do a general cleaning of hull, deck and topsides using a mild detergent.

•Make sure drains and scuppers are clear.

•Put on a good coat of wax.

•Clean and polish metal with a good metal polish.

•Clean teak and oil.

•Clean windows and hatches.

•Clean canvas, bimini and dodger.

•Clean interior including bilges.

•Check spare parts and tools, and replace as necessary.

•Inspect the deck making sure your lifelines, pulpits and stanchions are good.

•Make sure your life raft and dinghy are in working order.

•Check and replace wiper blades if necessary.

•Make sure registration is current and onboard.

WARM UP YOUR WATERCRAFT

Part boat, part motorcycle, all fun! Whether it's a jet ski, WaveRunner or Sea-Doo, your personal watercraft lets you keep cool and feel cooler as you glide across the water getting soaked by the spray. While these sporty water rides can make you feel like you own the waves, you won't want to get thrown off by an accident that leaves you and your toy landlocked.

Before you hit the ramp this spring, do yourself a favor and get covered with a watercraft insurance policy. New Jersey jet ski insurance helps insure you and your watercraft against accidents, vandalism and liability. Whether you operate it yourself or loan it to a friend, you can be covered for situations including Damage to other crafts or docks, Bodily Injury or Death, and towing assistance.

The warm weather and use of personal watercraft are supposed to be all about fun. But as any jet ski owner knows, things don't always as planned. Put the odds in your favor this season by following these simple steps:

· Check and maintain your battery. Beware of sulfation, which decreases the battery's ability to hold a charge.

· If buying a new battery, consider newer alternatives like gel and AGM (absorbed glass mat).

· Check for corrosion, dirt or moisture built up on the terminals, which drain power.

· Clean the terminals with a solution of baking soda and water, and rinse with fresh water. Once dry, apply a light coat of waterproof grease to protect the terminals.

· Flush your engine.

· Check your engine, check your oil and make sure all your clamps are tight.

· Wash and wax.

· Use a quality vinyl protectant to condition the vinyl seat.

· Don't forget your trailer. Check tire pressure, check bolts and nuts to make sure things are tight, inspect bunk boards and trailer lights.

If your business involves the shipment of goods locally or abroad, whether inland or across the ocean, you need to realize that the moment those goods leave the door, they change hands many, many times, and there's no knowing what may happen.

To protect your goods and your business, you need to have marine insurance. But how do you choose the right one? Here are a few dos and don'ts:

1. Don't confuse marine insurance with boat insurance. Boat insurance protects water vessels and its passengers. It's like car insurance, except the car floats on water.

Marine insurance is an altogether different banana. Despite its name, it is not limited to protecting waterbornecargo. It protects cargo transported on dry land as well, on top of protecting the vessel that carries the cargo.

This is why there is such a thing as "dry" marine, for land-transported cargo, as well as "wet" marine, for cargo shipped via actual ships.

2. Don't lie on your application form. Don't conceal relevant information either. There is a fine line between the two: lying on your form means you deliberately put in wrong information. Concealing information means that it was not mandatory for you to divulge the information but you know that divulging it would have affected your policy in an adverse way.

Either way, should it be discovered that you lied or concealed relevant information, it would most likely void your policy, defeating the purpose for which you got the insurance in the first place.

3. Don't break your warranty. In insurance law, a warranty is fundamental to the performance of the contract. If it is breached, the non-breaching party may terminate the contract in addition to claiming damages.

One common implied warranty in marine insurance is the seaworthiness (or road worthiness) of the vessel.

Be aware if a warranty is breached, it will not help the insured to remedy the warranty; the policy will be rendered null and void regardless.

So before you take out a policy, make sure you are aware of all the warranties included, and ensure that you breach none of them. Which brings us to our first do...

1. Do read the fine print. While the fine print can be tedious to read, we all know - some through painful experience -ignoring it is like parking under a construction site: It's just a matter of time before something hard and heavy hits you on the head, and you may not live to regret it.

The fact is, unless you're a first grader just learning to read, it won't take you five minutes to read the details of the contract you're entering into. (Nevermind if it feels like an hour - it's really not.)

The fine print will tell you the details of what you're paying for, what rights you may have that you may not have been told about, and what conditions are not covered by your policy, and what actions will render your policy null and void. For instance, inadequately packed cargo is usually not covered. Neither are dangerous items such as combustibles, firearms, and chemicals. Others may not cover food, timber, and animals. There may also be navigational limits that, if exceeded, will void your policy.

2. Do compare policy offers. And don't rely on price alone.

Perhaps the reason why that policy is so cheap is because it only covers actual value, which is the value of your insured item at the time it was lost - and this includes depreciation, so you'll probably end up getting much less than what you expected.

On the other hand, that other policy may cost more, but it insures your item for the amount you had agreed on (agreed value), on paper, so when the item is lost, you get compensated for the exact amount you're expecting, which will allow you to immediately replace the lost item with a brand new one.

What about the causes of loss covered by the policy? Non-filed policies only cover for specific types of loss and may not cover acts of god. Then again, maybe they do.

The other day, an acquaintance invited me to lunch at a nearby country club, as I drove into the facility, there was a sign by the big pond, which looks like a miniature lake, which said; "No Jet Skiing" - indeed, I got a big chuckle out of that, and I asked my acquaintance about it over lunch. He explained to me that some yahoos every year, and often put their jet skis in the pond and race around. They do it every year, and no one has ever said anything, except for a few older ladies who claim it is cruelty to animals as they are terrorizing the ducks on the golf course. If you knew this area, you'd understand what that's all about.

The reason the sign went up, is someone had crashed a jet ski, after they got up to speed and tried to jump it onto the golf course while the grass was wet. They did this a number of times, and even posted videos on YouTube, which I later went to see because I thought it was actually kind of funny. Yes, it was hilarious, until I watched the last video, which went viral and has a million views now. A girl tried to do the same thing on a 1200 CC jet ski, and she caught edge of the side of the pond, and the jet ski flipped over and launched her head first at about 25 miles an hour onto the grass.

In the video she just laid there not moving, later she got up and stumbled around, sat down with all her friends standing around, and the ambulance took her away for a severe concussion, she's lucky she didn't break more bones or even kill herself. Obviously the security at the country club was told not to allow anyone to use a jet ski on the pond anymore, and blamed it on the ducks habitat and the wetlands, which I thought was comical.

Nevertheless, the country club's insurance will not cover anyone who goes on a jet ski in their pond, and anyone who has watercraft insurance for their jet ski should already know that it is null and void if you're not in a legitimate recreational area. And the country club is for golf not for jet skiing. Let this be a lesson to anyone who tries such foolish stunts, even on spring break, if you don't have the insurance for your watercraft, you better be careful who you let ride on your jet ski. Indeed it is my sincere hope that you will please consider all this and think on it.

If you're a boat owner, there's a chance you may have overlooked obtaining the right boat or watercraft insurance policy. Perhaps you've been under the impression that your homeowner's policy covered your boat as well. The truth is that some homeowner's policies may provide limited boat liability insurance coverage, with the determining factor being usually the power of the boat motor. It's best to check your policy carefully and discuss your specific situation with your insurance agent.

Now's a good time to make sure you have appropriate coverage. And if you do have a boat or watercraft policy what exactly is being covered? There are different coverage options for boat owners to insure that their boat and its passengers are protected. These options include physical property damage, watercraft liability, medical payments, fuel/oil liability, uninsured watercraft, boat equipment, and emergency services.

The environmental disaster of the oil spill in the Gulf of Mexico comes to mind, and boat owners have shown concern about coverage for unforeseen circumstances. An oil spill from your boat could have a serious financial impact if you are personally responsible to pay for the clean-up. This type of occurrence is usually covered by the watercraft liability coverage on the boat owner policy. However, some policies do have separate limits that are specific to fuel oil liability.

Keep in mind that a personal umbrella liability policy, which provides an extra cushion beyond normal liability limits, does not extend to a fuel spill liability. Therefore, it's very important to carry $500K or $1MM in fuel spill coverage on the boat policy to make sure you're protected.

Boat owners may also neglect to take other operators into account when purchasing their policy. If you borrow someone else's boat, make sure your policy covers your liability on that boat, including fuel spills, which would be outlined under non-owned boat liability coverage. Although some boat policies will cover any "permissive operators" who drive the boat with permission, some boat insurance policies may provide coverage only to those operators listed on the policy. In addition, if someone operates your boat and causes a serious accident, they may be covered as a "permissive driver," but be careful because your policy may only cover those individuals specifically listed on your boat policy as operators. And this is a case where a personal umbrella liability policy could come in handy. While this policy would cover your liability exposure in operating someone else's boat, there are underlying limits that will likely leave you with a gap of $100,000 or more.

But here's the good news! There are a number of discounts that could help you save on boat insurance. These discounts might include policies on a new boat and diesel engines. You might also be eligible for a multi-policy discount on your boat and auto insurance. And remember that you may be able to earn discounts for successfully completing certain boat education courses.

If you own a marine vessel that is longer than 26 feet, you need yacht insurance. (If it is less than 26 feet, you need boat insurance.)

Yacht insurance will protect your investment from theft, damage, and other things that can cause partial or complete loss.

What do you need to look for when you choose an insurance policy for your yacht?

1. Comprehensive cover. Some policies cover your yacht only for accidents and damage. Others protect against fire. Still others provide only against theft or vandalism.

Naturally, just getting one sort of protection will cost you less. If you keep your yacht in a boat house, this will further lower the cost for your policy.

But how do you which of these dangers is likely to befall your yacht? In the end, it is best to get a policy that protects your yacht for all three risks.

2. Third-party liability. Third-party injury is the biggest headache you can get with your yacht. After all, should your yacht get stolen or damaged or completely burned down, you always have the option to do nothing and just swallow your loss.

On the other hand, if you and your yacht cause damage to others' property or injury on another person, you do not have the option of doing nothing. You will have to pay up.

Third-party cover will prevent you from having to cough up a huge amount of cash at one time just to keep yourself from getting sued. In any case, in the UK, you are required to have at least £2 million third-party liability before you sail in your yacht.

Incidentally, third-party insurance only applies when your yacht is in the water. Should your yacht cause damage to anyone or anything while your yacht is being transported from your boat house to the water, this should be covered by your vehicle insurance, not your yacht insurance.

3. New-for-old cover. Will your insurance pay for the cost needed to purchase a brand-new yacht should something happen to the old one? Or will your policy only cover the value of the yacht when the damage or loss occurred?

A new-for-old cover will ensure that you will have enough money to replace your old yacht with a new one. However, be aware that some companies set a maximum yacht age for your yacht - often three years - to receive this coverage.

4. Laid-up period. Some insurance companies will not cover you if you sail your yacht within a certain period during the year, when the boat yards are at peak season, or during bad weather. Check your policy to confirm the laid-up period requirement of your policy

5. Ease of claim. An insurance policy is only as good as your ability to claim it. The best way to find an insurance company that makes claim submission easy is by talking to your fellow sailors and getting referrals.

Repairs to any kind of boat can prove very expensive and that is why getting the right kind of insurance to cover such is important. However as you will soon discover when you carry out a search for the best possible boat insurance rates that they vary widely. So you need to spend time on looking at what is available and comparing the rates charged.

Of course there are other things that you can do which can further help to get you the best possible deals when it comes to renewing the insurance policy on your boat. Below we take a look at just some of the things that you could do that in the future could help to ensure that the boat insurance rates you are charged aren't as high.

1. The first thing you do when it comes to renewing the insurance for your boat is to check the limit on the policy you have currently. Is it actually reflecting the value of the boat as it is currently or has it remained that same as that which you paid for the boat originally. You may be surprised to discover that your boat is valued about what it is currently worth and of course this means that you pay much higher premiums.

2. The next thing to be looking at to help bring down the insurance rates for your boat is how much you are being asked to pay in deductibles. If you can afford to increase the amount you are willing to pay in deductibles (excess) if you should need to make a claim against the policy. Most boat owners tend not to make claims for smaller repairs to their boats, but rather will make claims for much larger ones such as damage because of the weather or the boat has been stolen.