As a boat owner, it’s important for you to invest in a boat insurance policy to cover your assets and protect you against liabilities. At Luebbering Insurance Agency LLC, we offer boat insurance in Jefferson City, MO. 

If you’re buying boat insurance for the first time, it’s important that you’re well informed when you select a policy. The following are three things to know when you’re buying boat insurance for the first time. 

Investing in salvage coverage is important.

One type of coverage you shouldn’t overlook in your first policy is salvage coverage. Salvage coverage pays the costs if your boat is destroyed in a body of water and needs to be removed.

Salvage costs can be very high in the event of an accident. That’s why it’s so important to invest in this type of coverage. 

Two distinct policy options are agreed value and actual cash value coverage.

You’ll have to decide whether you want an agreed value or an actual cash value policy. This means you need to decide between a policy that will cover you for an agreed-upon value or a policy that will cover you for the actual worth of your boat at the time of an accident. 

Agreed value coverage is generally the better option, but it also involves higher premiums. 

There are probably going to be navigational limits on your policy.

Boat insurance policies usually have navigational limits. This means that coverage will only be active if you remain within certain bodies of water or areas. If you go outside of navigational limits, accidents will not be covered. 

It’s important to be aware of navigational limits on your policy. 

Contact us at Luebbering Insurance Agency LLC to learn more about your boat insurance options in Jefferson City, MO. We’ll answer your questions and help you find a policy that’s right for your needs.