As a boat owner in South Kingstown, RI, you have numerous responsibilities. These include preparing the boat for the summer, safeguarding it for offseason storage, and ensuring it’s adequately insured due to the risks associated with boating. At Kingston Insurance Agency LLC, we often encounter boaters who discover they’re underinsured when it’s too late. Here are three signs indicating it’s time to update your boat coverage policy.
1. Upgrades to Your Watercraft
If you’ve replaced the engine, updated the features, or made any improvements to your boat, its monetary value will increase. Consequently, you need to update your boat insurance to reflect this value and ensure your boat is properly insured. Remember, this also applies when you upgrade the safety gear on your watercraft.
2. Boating in New Waters
If you’ve relocated your boat from a lake to open waters like an ocean, you need to update your insurance. Boating on the ocean carries more risk, so insurance companies may not cover you if your policy states you’re only using the boat on a lake or a river. You should also update your coverage if you’re staying on lake waters but moving your boat to another state.
3. New Operators
Has your child reached the age to drive the boat? Do you occasionally let your friend or neighbor take it out? Whenever you add new operators to the boat, you need to reflect that in the insurance policy. You may not be covered if your boat sustains damage while someone other than the person listed on the policy is driving it.
If you find yourself in any of these situations, contact us at Kingston Insurance Agency LLC in South Kingstown, RI, today to update your watercraft insurance policy. Reach out to us as soon as possible to learn more about how we can assist you.
