Colling Insurance Services Inc. helps citizens of Lakewood, CO get the insurance coverage they need to protect all their investments. However, people in this great city often make coverage mistakes when insuring their boats. These mistakes can end up costing you thousands of dollars if your boat gets damaged.
Canceling Coverage During Off-Season
When people aren’t using their boats, they operate under the assumption that they don’t need insurance. That isn’t always the case! What happens if your boat storage shed gets hit by lightning and your uninsured boat burns up? Then you are really up the creek with no paddle. Always get year-round coverage or else you run the risk of this serious problem.
Dropping Or Limiting Insurance After Paying Off The Boat
Another common mistake is dropping coverage or limiting it after paying off the boat. Many people only get boat insurance to help protect themselves from angry lenders if the boat gets damaged. However, your boat may still be the center of various problems, such as personal injury lawsuits. Keep your insurance to avoid serious lawsuits.
Trying to save money by buying limited liability insurance or the lowest possible policy will only cause your heartache if your boat gets damaged. These policies will do very little to replace a boat if it is totaled, meaning that you will end up losing all your money. While you don’t have to buy the most expensive insurance package available, don’t be cheap.
Contact Us Today
If your Lakewood, CO boats need high-quality insurance and you are afraid of making coverage mistakes, please contact us at Colling Insurance Services Inc. We will work with you to find a policy that covers your boat, doesn’t cost you too much, and helps repair or restore your boat in case of damage.