Are you a boat owner in Clermont, FL? If so, you enjoy spending time cruising around the beautiful lakes. However, before you set sail, it’s essential to make sure you have the proper insurance coverage. Singh Insurance and Financial Services LLC can help make sure you’re adequately covered. Here are some things to consider when determining if you need collision coverage on your boat.
Value of Your Boat
If your boat is financed, your lender will likely require you to carry this type of coverage. Even if you own your boat outright, it’s still a good idea to have collision coverage in case of an accident. The cost of repairs or replacement can be expensive, and this type of coverage will help protect your investment. Out-of-pocket expenses can add up quickly, so it’s important to have the proper coverage in place.
Type of Boat
The boat you have will also play a role in whether or not you need collision coverage. If you have a small, inexpensive boat, the cost of repairs may not be worth the price of the premium. However, collision coverage may be a wise investment if you have a larger, more expensive boat. But still, in both cases, the best action you can take is to speak with an insurance agent to guide you through the decision-making process.
Your Insurance Policy
Finally, check your boat insurance policy to see if collision coverage is already included. Some policies automatically include this type of coverage in your boat insurance, so you may not need to purchase it separately.
Singh Insurance and Financial Services LLC in Clermont, FL
If you’re still unsure if you need collision coverage on your boat, Singh Insurance and Financial Services LLC can help. We’ll work with you to determine the best insurance coverage for your needs. Contact us today to get started.