Wednesday, August 20, 2014
Why Home Insurance in Michigan Can’t Protect Boats from Liabilities
As a boat owner, you know that sailing the open seas is an incomparable feeling. Of course, you also know that private water vehicles are some of the most expensive investments you purchase, with average prices now hovering at around $65,000. If you assume that your home insurance in Michigan will cover the damages and liabilities associated with boat ownership, however, you might end up spending even more than that figure should mishaps happen. Fortunately, Allied Insurance Managers, Inc. can help you find the best rates on dedicated boat insurance policies that will protect both you and your watercraft from untoward incidents. Remember, standard homeowners insurance in Michigan offers only a couple thousand dollars’ worth of coverage when your boat is damaged or stolen—a small pittance compared to the overall price of the vehicle. Furthermore, the damage or theft has to occur at your residence for any money to be paid out at all.