Important Tips for Insuring Your New Boat
Important Tips for Insuring Your New Boat
Start with the Boat
When first insuring your vessel, it is imperative to accurately assess the total value of the boat, motor, trailer, and all attachments. Online valuation tools like BUC and NADA are excellent resources for this process.
If you are financing your purchase, the lender will perform a professional valuation for the loan; you can use this evaluation to determine your coverage limits. Additionally, an agent who understands the boating and fishing world can help you "flesh out" your unit’s true market value. If you purchase with cash, the burden of valuation falls on you—so it is vital to know exactly where you stand before signing a policy.
Document Everything (Take Pictures!)
Don’t just stop at the celebratory selfie when you first buy the boat or land that first big bass. Take detailed photos of the entire layout, including all high-end accessories and mounted equipment. These photos serve as definitive proof of ownership and act as a vital inventory reminder should a major accident occur.
Adjust for Changes
Whether you keep a boat for two years or twenty, things change over the course of ownership. We recommend reviewing your policy annually with your agent (who should be reaching out to you anyway!). Regular reviews ensure that you are maintaining proper coverage levels, which ultimately saves you money and provides peace of mind for when the inevitable happens.
Don't Forget the Gear
Every fisherman has a pre-season ritual: laying out last year’s gear, organizing baits, and prepping rods based on the latest tips and videos. Whether you do this months in advance or the night before opening day, you need to know exactly what is on board.
At RecLending, we recommend a systematic approach to your gear:
- Inventory: Pull out and organize your tackle and electronics every year.
- Record: Write everything down and keep a digital log.
- Document: Take photos of your rod lockers and tackle storage.
- Trace: Save all online purchase receipts in a dedicated email folder.
Most anglers are shocked by the total value of the equipment they carry. Take the time to record it—and then insure it.
Get a Professional Review
Before your next season kicks off, let us help you review your setup. We'll ensure you have the right protections in place before you hit the water.
