Custom boat owners take pride in showcasing the unique features they’ve added to a standard boat. Many of these owners also enjoy full use of the ship but must ensure they have ample insurance coverage to address the risks and responsibilities of owning this type of boat.
One primary consideration is that unique additions to custom boats in Mesa, AZ, can significantly increase their value, especially when specialized equipment is added. This investment requires considering the cost of making repairs or replacing expensive components.
Customized Coverage
A standard boat insurance policy is unlikely to cover custom hull designs or enhanced equipment. Because of the cost of these items, boat owners should consider custom boat insurance even if they only upgrade the interior or add a state-of-the-art navigation system.
Reviewing a custom boat policy to ensure it provides adequate coverage means examining the deductible and coverage limits. This includes reviewing what types of events are covered. Some common coverages include theft, vandalism, natural disasters, and accidents.
Custom boats also need ample liability coverage. Minimizing coverage isn’t a good idea because custom boat owners may attend events with others. This means they need increased coverage in case of a crash with another custom boat.
Finally, if the boat will be displayed, liability coverage should cover people who get onto it. However, some standard boat insurance policies don’t cover situations like people getting into the boat at a boat show, so it’s critical to discuss how a custom boat is used with one of our agents at The Morrow Insurance Agency. They can assist Mesa, AZ, residents with finding optimal custom boat coverage.
