If you own a boat in Burlington, North Carolina, you will likely need to purchase additional boat owner’s insurance. Many people falsely believe that their home owner’s insurance covers their boat. However, unless your boat is very small and lacks a motor, you will need a separate boat owner’s plan to protect your watercraft.
How Boat Owner’s Insurance Works
Boat owner’s insurance is similar to auto insurance, but it also has some similarity to a home insurance policy. Boat owner’s insurance consists of liability coverage that goes into effect if you are in an accident. Much like auto liability coverage, boat owner’s liability policies cover the medical expenses and potential legal expenses that one can face in the aftermath of an accident.
Another feature of boat owner’s coverage is that you can opt to suspend your coverage when the boat is not in use. This prevents you from paying hefty premiums during those winter months when you are least likely to go boating.
What Boat Owner’s Insurance Covers
Like homeowner’s insurance, boat owner’s insurance will generally cover physical damage to the boat that includes any equipment that is attached to the boat. However, unlike homeowner’s insurance, boat owner’s policies typically exclude personal items, such as scuba gear, stereo systems, or electronic devices. Be sure to thoroughly review your policy to determine what is and is not covered. Also, you will need to purchase additional comprehensive insurance to protect your boat and boat accessories against theft or vandalism.
How an Independent Agent Can Help
Insurance companies vary in the items that they will cover. If you want to receive the best coverage for the items on your boat, it is important to shop around and closely compare the policies of different insurance providers. Call us today to speak with an independent agent who can help you receive thorough coverage on your boat.
When you own your own business there is a good chance that you may have to have a company vehicle. Like a personal car you will have to keep an insurance policy on the vehicle. The question that comes up often is what kind of policy should I have on the car. Here are a few tips to determine which policy should be bought to insure the vehicle.
The Difference Between Commercial Auto Insurance and Private Auto Insurance
This is a policy that includes coverage for physical damage, liability exposures and other types of situations that are not covered by a typical auto policy. A commercial insurance policy can be expanded to cover several vehicles at once or it can only cover one vehicle. Sometimes this type of policy may be talked about as truck insurance or a type of fleet insurance. Depending on the size of the vehicle and what it is used for may determine what kind of policy you can have. For instance some cargo vans will not be insured by a private auto policy because that style of vehicle is used by contractors for job related activities. Be sure to speak with your agent in the North Carolina area if you have any questions.
Private Auto Insurance
This type of insurance covers only personally owned private cars. Usually the owner will have liability coverage and maybe physical damage coverage. If the car is used for business related activities, the auto insurance company can cancel the policy and require the owner to get a commercial auto policy.
As your independent agent in Burlington, North Carolina we can help you understand what kind of auto policy you need for your car. If you have any questions about commercial insurance, please call us so we can help answer your questions. Make sure to have the right kind of policy for your vehicle just in case you need to file a claim in the future.
Disclaimer: The content of these blogs do not represent any type of specific coverage’s offered by the agency.
If you’re living in Burlington, North Carolina–or anywhere else in the state–you can have as many life insurance policies as you want, provided you keep paying the premiums. Here are three reasons you might consider having more than one life insurance policy:
Extend your term insurance less expensively. Term life insurance is inexpensive, but if you renew when the term is up, you’ll pay a significantly higher price. Combat the rising cost by buying a smaller amount now, buy another term policy in 5 years and then another 5 years later. This will extend your initial coverage by ten more years and should the unexpected happen before then, your family will be in a stable financial position.
Buy more coverage as you have the financial resources. Let’s say you’re a recent college graduate, just got married and have a baby on the way. You know that you need life insurance, but can’t afford more than a $50,000 policy. Don’t hold off until you can buy the $500,000 policy that you want; buy what you can afford now and then buy a new policy each time you’re in a better financial position.
Keep buying new policies until you reach the amount that you feel is right for your family. Diversify your investments. This is the whole, "don’t put all your eggs in one basket" idea. By buying policies through multiple companies, you’re more likely to be okay if one insurance company goes under while you still hold a life insurance policy.
To get more information on buying a life insurance policy, to learn about which type is best for your situation and for help deciding on how much insurance you should buy, contact your independent agent in Burlington. We’re here to help answer any, and all, of your insurance related questions.