Important Coverage Alert for Boat Owners: Liability and Damages

The Wellspring Insurance Network Inc. is here to provide the important facts relating to boating insurance coverage. If you are in the greater Rockville, MD area and have a boat, it may surprise you to learn more about the types and level of coverage that all boat owners should look into. Boating season is almost here and it is best to be prepared beforehand as once the nice weather hits insurance will likely be the last thing on your mind! Our helpful and knowledgeable agents are here to answer your boat insurance coverage whether you need a policy or if you’d like us to review your current policy. We are here for you!

Boating insurance is important for a number of different reasons. Mainly because coverage will protect your financial interests in the event of damage or injury related to your vessel. While most boat owners understand the importance of this coverage, many opt to get the bare minimum policy that is geared toward catastrophic incidents. Were you aware that there is insurance coverage available to protect you from environmental clean-up liability in the event that there is a fuel spill from your boat? Comprehensive coverage can also cover the cost of towing in the event of engine malfunction or other covered events. Complete insurance can make a huge difference in your cash outlay.

If you plan on getting out on the water in the Rockville, MD area this season it’s a good idea to review your boat insurance coverage before you do! Wellspring Insurance Network Inc. is here to answer all of your questions and provide comprehensive information on your boating insurance options. Whether you need a policy or would like us to review your current one, come see us today!

An Important Step to Take Before Restoring that Classic Car

Whether you presently own or plan to restore a classic car, you should select an insurance policy that differs from those offered for regular vehicles. Traditional policies often depreciate the car’s value as it gets older and accumulates more miles. Restored classic cars generally have a value that appreciates over a period of time due to their condition, rarity, and other factors. Wellspring Insurance Network Inc. reminds those with classic cars in the Rockville, MD area that your prized vehicle is an investment that deserves proper care and protection.

An important step any classic car owner or restorer should take involves reviewing these considerations:

  • Establish a Proper Value. “Blue book” listings do not accurately convey the monetary, sentimental, and other values a classic car aficionado places on their vehicle. If you are currently restoring a vehicle, be sure to document costs involved in acquiring parts and take photographs of the restoration as it moves forward.
  • Secure Flatbed Towing Whenever Possible. Since most classic cars only hit the road on special occasions, they tend to have fewer accident claims than breakdowns. This type of towing allows the vehicle to get back to the garage with all of the wheels atop the flatbed.
  • Limit Usage for Cherished Moments and Special Events. Classic car insurance protects vehicles due to their unique nature. These policies are not for vehicles used frequently or as the primary means of transportation.
  • Store Your Car Properly. Except for show-and-tell events and trips to venues, keep your classic car in a secure storage area or garage. The vehicle should never park regularly on the street or an outdoors driveway.

Wellspring Insurance Network Inc. of Rockville, MD offers coverage for classic cars. Contact our agents today to learn how we can protect your treasured vehicle.