Boats are nothing new to mankind. The presence and use of boat is known from a very early age when roads were not that good and sky route was just a dream. Watercrafts and ships of different types were used from then as the primary mean of transportation in the planet whose three-fourth part is covered with water. Thus, when insurance for all types of boat exists in the market today, then why won’t there be a special insurance policy for boats which are a bit old than others and have an antique value? Boat insurance policy for such ancient boats with antique value also exists and they are known as the collector boat insurance.
Collector boat insurance is actually built for the classic and antique boat users who still use their boats which have served them long in the heart of lakes, seas and oceans. Needless to say that collector boat users are among the most safest and conscientious users. Thus, it is obvious that they deserve the most competitive rates and the most comprehensive boat insurance coverage available in the market.
Now to exactly identify which boats actually qualifies as collector boats we must remember that any boat made of wooden hull, more than about 25years old which has been maintained meticulously, hand built and restored is a collector boat. Nowadays, boats with fiber glass or concrete hull, sail boats as well as power boats also fall in the category of collector boat. For example, runabouts, skiffs, launches, cruisers and trawlers, mono-hulled sailboats, home built or kit wooden boats and of course prestigious classic wooden boats can be called to be collector boats.
Now that we have known in depth about the categories of boat which fall under collector boats, we need to learn what are the special comprehensive coverage that we should look for when buying a collector boat insurance policy.
The first and foremost requirement is a year round coverage. Remember, that many people cruise around the entire year and thus your insurance policy should be valid for the whole year and not just for any lay-up period. The agreed physical damage value should be agreed upon by both the boat owner and the insurance company and should not be set by the insurance company alone. Wreck removal and towing assistance should be there which will cover the cost and trouble of getting your wrecked moved removed and towed to the shore if it meets with any unprecedented accident in the middle of any ocean. Collision coverage ant other than collision coverage is a must which will take care of your classic boat if you run into something, while other than collision cost covers acts like vandalism , theft and damages caused by lightning, smoke, fire and windstorm. Personal property coverage for skies, life- jacket, and other must haves on board items should also be present. Pollution liability coverage which covers the huge cost of cleaning the mess if your watercraft spills gasoline or oil into a waterway is also one of the most important coverage to be remembered.
Thus, if one can set to buy a collector or classic boat insurance policy keeping these important points in mind, then he or she will get the most competitive and best collector boat insurance policy available in the industry. Having all the above mentioned coverage will make your classic boat insurance policy the most effective and comprehensive one.
To learn more about classic boat insurance online and to increase your knowledge in this field, simply logon to www.boatinsurance.org.