Despite how frequently you take your sailboat or yacht for a spin, there are multiple risks in water. For instance, you can encounter collisions, storm damage, fire, sinking, or onboard injury.
If a passenger aboard a recreational yacht falls and suffers an injury, the victim can sue for compensation. Remember, yacht owners, are under a legal obligation to install safety measures like life jackets, first aid kits, life rafts, and mops to eliminate spills.
Although yacht accidents are not as common as car accidents, boat insurance is a crucial backup plan against loss.
Read to learn more about yacht or sailboat insurance near Northridge California, and reach out to our insurance professionals about coverage options.
Before signing your boat insurance contract, assessing whether the policy protects you entirely is essential. Remember, all policies differ, making it crucial to pick a customized insurance policy.
That said, pay attention to the following aspects.
Windstorms and hurricanes can knock your yacht out or cause severe bodily damage. Boat insurance can meet repairs or replacement costs in case of extensive damage.
Most yacht thefts occur in transit. Thieves look for poorly packed trailed yachts, slip in and drive away. If you’re traveling long distances, yacht insurance can protect you from such a loss.
Sailboat and yacht insurance can protect you from losses arising from the theft of navigation systems, motors, safety equipment, or personal items. Although home insurance may cover a few items, a boat cover enhances the protection.
Although yachts and sailboats are luxury assets, you don’t have to pay an exorbitant insurance premium. Instead, you can leverage the special provisions that reduce the payable amount.
Here’s a list of credits that translate to an affordable yacht cover.
A yacht is a source of pride and fun for many people. Unfortunately, an unforeseen accident can damage your prized asset or ruin your finances. Panorama Insurance Agency in Northridge, CA has tailor-made boat insurance that gives you peace of mind while sailing. Contact us now or call us at 818.514.1916 to get a quote.