What Happens to Your Insurance If A Fire Caused By Someone Else Destroyed Your Yacht

Did you know on December 12, 2015, a 3 alarm fire destroyed the Annapolis Yacht Club? It took 90 firefighters about two hours to control the fire. Oil paintings and wooden models of sailing ships were completely destroyed by the fire.

This proves the need of having a well-covered insurance policy because just like cars, yachts and boats are vulnerable to damages and accidents like this.

So here are some things you must know about your yacht insurance.

1. You are not covered automatically under your homeowner’s insurance

As yacht owner, you cannot assume your homeowner’s insurance will cover your yacht as well. The policy might probably cover you if you have a small boat that has a small engine or no engine at all. However, if it’s a yacht, you will need to purchase extra coverage. It is the same with your automobile, your homeowner’s insurance is not going to cover your car. However, you can still purchase them together in a bundle so you can save a considerable amount of cash.

2. Fire Damage Isn’t Always Included

Before you purchase a boat insurance, you will need to shop around and look for the policy that specifically provides coverage for fire damage. Pick a policy that will protect your boat in worst case scenario. In the case of a fire or hurricane, you will sleep well knowing hat repairs and replacements are insured.




3. Check Your Current Policy

Another popular reason for a boat insurance claim is hurricane damage, other factors are theft, collision, and sinking. It is important to check your insurance policy to see if you have limited coverage or full coverage. You should know what’s covered and what’s not.

John J Walsh Insurance in Salem & Rockport, MA

If you are buying a boat or own a boat in Salem, Rockport, Gloucester or other communities in the Cape Ann area, contact John J Walsh Insurance today for a quote on your boat insurance.