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Three good reasons to ensure your boat with a Marine Insurance Company.

Posted on March 1st, 2015

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Three Of the Most Important Reasons For Insuring Your Boat With A Marine Insurance Company.

In all likelihood, you bought your boat from a dealer who specializes in boats. So when it comes to insuring your boat,

doesn’t it make sense to do that with a company that also specializes in boats?

Here are three of the most important reasons why a stand alone boat insurance policy simply makes more sense, for you, your family and for your boat.

1. Insuring your boat through your home policy means any claims for damages on your boat will count as claims on the whole

policy. We have heard from many clients that claims frequency was cited by their insurer as reason to cancel their policy

or, most often, simply raise their premiums. A boat only policy with MD Marine eliminates this risk.

2. The coverage for home insurance and boat insurance are quite different from each other. In almost every case, the

quality of coverage your boat would have when added to a home policy would not contain anywhere near the amount of coverage

that a stand-alone boat policy would offer.

3. The basis of settlement on a home insurance policy for boats is measured in terms of actual cash value

(replacement cost less depreciation). This can often make calculating a claim value extremely complex and difficult, and

in the end it could actually cost you more money than you thought. Conversely, the basis of settlement on stand-alone

boat policy is usually based on ‘agreed value’. And that truly is boat insurance made easy!

For more information on our benefits and coverages please call 1-877-627-4633 or click us www.mdmarine.ca

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