Summer is boating season and if you are considering purchasing a boat you will also want to insure it, not just for physical damage but to cover your liability exposure.
Before calling or visiting, here is a check list of information brokers require to provide a quote:
- Year, make and model
- Type of boat
- Year, make and model of the motor
- Horsepower of the motor and it’s fastest speed.
- Year make model of the trailer
- Type of motor, inboard, outboard
- Are there any extras that need to be insured, ie dingy, downriggers.
- Purchase price or MSRP of the boat, trailer and motor. Be prepared to be able to identify the price for each separate item. We realize that they are sold as a package, but, you will run into the scenario of a broker requiring a breakdown of each. Be prepared and ask the sales associate for a breakdown.
- Area of operation i.e. Great Lakes, inland lakes, etc.
And then they need to know all about you and your driving record.
- Prior boat insurance? How many years?
- Years as a boat owner or operating a watercraft?
- Any watercraft related claims?
- Any automobile speeding tickets? (yes, how you drive on the road will reflect how you drive on the water)
- Any boating safety courses such as Power Squadron?
- Driver’s Licence numbers and information for all operators of the watercraft.
Having this information ready will avoid delays in getting a quote for your newly acquired watercraft.