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How to Choose the Right Boat Insurance Policy

For many people, owning a boat is a dream come true. But, with that ownership comes responsibility—ensuring you have adequate coverage. If you live in Memphis. TN and are looking for boat insurance, it’s important to know the policies available and how to choose the right one for your needs.

Types of Boat Insurance Policies 

Before deciding on a boat insurance policy, it’s important to understand the different coverage available. There are four major categories of boat insurance policies: liability, uninsured boater, medical payments, and physical damage coverage. Each type offers its own set of benefits and protection. 

Let’s look at each type more closely:  

 Liability Coverage

This type of policy protects you from financial loss if you cause an accident that causes injury or property damage to another person or their property. It also covers legal fees if you are sued because of the incident.  

Uninsured Boater Coverage

This provides coverage if you are involved in an accident caused by an uninsured boater. It can also cover your repairs if they exceed the other party’s coverage limits. 

Medical Payments Coverage

This policy helps cover medical expenses incurred from injuries sustained while operating your vessel. It can also help pay for lost wages due to lost time at work associated with treating those injuries.  

Physical Damage Coverage

This helps cover repair or replacement costs associated with damaged or destroyed vessels resulting from an accident or natural disaster, such as a hurricane or flood.      

Your Anthony Lancaster Insurance Inc agent can help you understand the different options available and choose the policy that best fits your needs.

Choosing the Right Policy for You 

When selecting a boat insurance policy in Memphis, TN, several factors – such as age, size, and purpose – should be considered. These factors will help determine the type and amount of coverage you need.

Contact Anthony Lancaster Insurance Inc today for more information about our services!

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