Guide to Insuring Home Property
Yacht Insurance
Insurance should cover the entire yacht, from the stem to the stern. Because yacht values vary so widely, there are several different options,including an agreed value insurance option. Agreed value insurance will pay yacht owners a predetermined amount in the event of an accident, without any depreciation. Because yachts are such high value items, actual value insurance is not recommended.
Aircraft Insurance
Aircraft insurance can cover a wide variety of air-related catastrophes, including damage from accidents, weather related damage and damage to the interior during turbulent flights. Aircraft insurance can cover damage that occurs while the aircraft is in the hangar or in the air. Aircraft insurance can also include personal injury insurance in the event of pilot or passenger injuries.
Boat Insurance
Boats can be added to a home owner’s insurance policy. Boats can also be insured with a specialized policy. A specialized policy adds more protection for maritime related problems. Boats can carry an agreed value policy or an actual cash value policy. An actual cash value policy pays the value of the boat, minus any deductible and depreciation.
Aviation Insurance
Aviation insurance can cover any expense related to the operation of an aircraft. Rates for Aviation insurance can be reduced by continuing flight education specific to the make and model of the aircraft listed on the policy. Aviation insurance may also cover any damage that occurs to existing ground structures during an aviation accident.
SR22 Insurance
Some drivers must file an SR22 form to show proof of minimum liability insurance. SR22 insurance carriers are required to report to the state DMV if a policy lapses or is canceled. SR22 insurance is usually required after a driver’s license is suspended or revoked. Requirements vary from state to state. Drivers that lose their license due to a DUI may have a longer SR22 requirement.
Marine Contractors
Marine Contractors insurance covers a wide variety of circumstances that occur during contracting work, including bridge inspection and dock construction. Rates vary based on a number of considerations, including subcontracting costs and the nature of the work that is performed.
Marine Insurance
Marine insurance covers not only the loss or damage of ships or boats, but can cover personal injuries and loss of cargo as it is being transported from the point of origin to the destination. Rates vary based on the size of the vessel, the types of cargo being transported and the length of the cargo run.
Yacht Charters
Insurance for yacht charters has complex requirements. Each requirement is based on the type of charter. Insurance is available for yacht fishing, extended yacht cruises, sight seeing excursions an short day cruises. Rates can vary a great deal based on the age and size of the yacht.
Boating Insurance
Boating insurance covers accidents that occur while the boat in engaged in maritime activities. Personal injury and liability policies are available. Rates can be reduced by completing a boating course. Regular boat inspections and repairs can also reduce the cost of boating insurance.