U.S. Coast Guard data is currently showing that property damage that includes boats is significantly increasing, which is also boosting the need for not only boat insurance, but the correct policy. As a result of the rising instances of property damage with boats, many states are now making boat insurance mandatory. Even if you are not in one of the states that require you to be insured, if you have a loan for your boat, or if you use a marina, the odds are that you will need to purchase…
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Basic highlights on top four insurance companies to help consumers
Throughout the financial crisis over the last few years, a number of insurance companies faced a significant struggle, leaving people to wonder about the top insurers after having seen the global giant American International Group (AIG) fall apart. In order to help consumers to better understand the current the insurance marketplace, experts have compiled some notes about the top four leading companies. Progressive is among the biggest American auto insurance companies. It provides standard vehicle insurance as well as products for specialty vehicles such as ATVs, mobile homes, motorcycles, boats…
Read MoreNew York “no tolerance” boating proposal
It is that time of the year; the sun is shining and the weather is warm. Friends and families are ready to go camping, boating and skiing. Beware though, if you’re a New Yorker; the New York Senate is pushing to get laws for boaters convicted of intoxication changed. If the bill passes it could mean stricter laws, including for those under age 21. The Senate wants to get a new law passed regarding alcohol related boating convictions for those who are under 21 years of age. Currently, boaters 21…
Read MoreGot Insurance? Many are not insured when they think they are
Summer is almost here. This means it’s time for consumers to re-evaluate their insurance coverage. Too often people believe they are covered for anything, just because they have insurance. This is why it’s not only important to know what kind of insurance you have; but to understand what it covers as well. In the recent economy people have noticed their homes have lost property value; some homeowner’s think they can lower their coverage and save some money. It’s important to understand that a lower property or market value doesn’t affect…
Read MoreBoaters get better coverage just in time for summer fun!
If you’ve been getting the fever to get your boat out on the open waters, it may be a good time to evaluate your current insurance policy. Two insurance companies have recently restructured their coverage for recreational boat enthusiasts. BoatU.S insurance company and CNA insurance company have added benefits to policies for boaters. Boat Owners Association of the United States (BoatU.S.) has been insuring the boating community for over 40 years, and currently has over half a million members. Richard Schwartz started the company in 1964. In 1966 Dick Ellison…
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