Does Boat Insurance Cover Non-Accident Related Damage?

Boats are a great way to spend some time on the water but without the right insurance policy, they can also be a huge liability. That being said, the right policy makes all the difference. For those that live in the Rockville, MD area, the agents with Wellspring Insurance Network Inc. can help you find the perfect boat policy just in time for summer.

So everyone knows that boat insurance covers damage that is associated with accidents while on the water, but does it cover the non-accident related damage? The answer is not as simple as you might imagine. For starters, all boat policies have collision insurance. This covers damage to your boat and to others boats if you wreck. Most policies have property damage liability to cover damage to other boats and even to property and structures. Many policies are going to have bodily injury liability to help cover injury while using your boat.

Most policies are not going to cover damage to your boat unless it is in use. You can, however, purchase a comprehensive policy that does cover the cost of repairing your boat if it is damaged and even helping to replace it if it is stolen. Basically, comprehensive insurance is going to cover any damage that occurs that is not the direct result of some sort of collision. You can also purchase policies that cover clean up of oil spills, damage caused by uninsured boaters, and more. You can also purchase umbrella policies that help cover any gaps that you might find in your policy.

For those in the Rockville, MD area, the agents with Wellspring Insurance Network Inc. can help you find the perfect policy that not only fits your boat but that also fits your usage and your particular needs.

How Does Classic Car Insurance Differ From Regular Car Insurance?

A classic car should never be insured using a traditional auto insurance policy. A traditional auto insurance policy will only pay you what the car is worth based on blue book estimates. Many classic cars are actually worth much more than the blue book gives them credit for, especially if yours is restored or has hard to find or expensive aftermarket parts. At Wellspring Insurance Network Inc. serving the greater Rockville, MD area, we want you to understand why buying classic car insurance is important if you own a classic car. Here is some information you need to know.

Finding a Mechanic to Repair Classic Cars is Challenging

If you are involved in a car accident in a classic car, and you only have regular auto insurance, your insurer will try to send you to a regular auto body shop. They will not pay to send you to a classic car repair specialist. Unfortunately, a regular auto body shop may not have the knowledge or access to parts to properly repair your classic car.

Determining the Value of Your Car is Challenging

The other issue with using regular auto insurance is determining the value of your car is challenging. The value of a classic car varies based on the condition of the car, if the parts are authentic, and even what type of paint is on the car. A regular auto insurance policy doesn’t take this into account. When you obtain classic car insurance, your car and its parts are appraised by a specialist, who knows the worth of the car and will help ensure you get full value if your car is stolen or totaled.

Are you looking to purchase a classic car insurance policy? Let Wellspring Insurance Network Inc. serving the greater Rockville, MD area, help you. We can help you determine how much coverage you need for your classic car and what items need to be included or excluded from the policy. Call us today to schedule an appointment to sit down and discuss your classic car insurance needs.