When it comes to insuring boats, yachts, and a variety of other boats in Port St. Lucie, the #1 choice for superior coverage, at affordable rates, is InsureAnyBoat.com. Our broad range of options for boat and yacht insurance coverage, in Port St. Lucie, has made us the one-stop-shop for marine insurance. Our mission is to provide a quicker and easier way to purchase insurance for your boat, so that you enjoy a more pleasurable customer buying experience.
We know there are dozens of other boat and yacht insurance companies in Port St. Lucie, Florida. However, we also know that we are different. We have more to offer you in the way of business and personal insurance for you vessel. Unlike our competitors, our coverage options aren’t commission driven based on attracting a specific type of customer. InsureAnyBoat.com built our reputation on customer satisfaction, honesty and integrity.
The Basics
When purchasing Port St. Lucie boat insurance, or yacht insurance, you should always start with the basics of your policy, namely Liability and Physical Damage coverage. Here is what you need to know about these two sections.
The liability section covers any legal obligations or responsibilities that you may have to 3rd parties and is often referred to as the “Protection & Indemnity” section of your policy. Legal liabilities are based on the operation or ownership of your boat or yacht. It can be attributed to the damaged caused to someone else’s property, as well as bodily injuries or fatalities.
The physical damage section covers your boat or yacht, as well as its equipment and machinery, against damage and loss due to an accident. It covers the engine and the hull of your watercraft and any other equipment that is needed for the vessel’s operation. For example, if your vessel is a sailboat, InsureAnyBoat.com would cover any damage to, or loss of, the sails as they are needed for operating it.
Partial and Total Loss Settlement
In addition to liability and physical damage, there are other aspects that you need to consider partial and total loss of, as well as how they are settled. The most important difference when comparing coverages for physical damages is whether it has been based “agreed” or “actual cash” (market) value. If the amount of coverage is based on the agreed value; it will pay the amount of your boat insurance, or yacht insurance, in policy, in Port St. Lucie, when suffering a total loss.
Actual cash value or ACV provides less coverage. However, you also have a smaller premium. Should the vessel be damaged to the point that it is declared a total loss, you will receive the current market value for your vessel, based on its condition and by taking depreciation into consideration at the time of the loss.
In the event of a partial loss, InsureAnyBoat.com agreed value coverage generally pays for the cost of replacement less your deductible. Physical depreciation isn’t factored in when valuing damages or losses. Payments made under an ACV policy for partial losses are based on physical depreciation, and will be reduced accordingly. Your deductible will also be applied under these circumstances.
Liability and Medical Coverage
Liability insurance covers the injuries you cause to non-family members or someone else’s property. If you or your passengers are injured in an accident involving your boat or yacht, the medical coverage in your Port St. Lucie boat or yacht insurance ensures that you will be reimbursed for any hospital and/or medical expenses.
As you can see, there is a great deal to consider when purchasing marine insurance for your watercraft. If you would like Port St. Lucie boat or yacht insurance quotes, call InsureAnyBoat.com today at 1-800-585-1665 and speak with a company representative.
