Get Insurance Quotes Today!

Anthony Lancaster Insurance, Inc Blog

Boat Insurance Myths

Though not required in Memphis, TN, it is highly recommended for boat owners to have some form of boat insurance. However, there is so much information about boaters insurance, and some of it is not true (or partially true). If you own a boat, check out these common myths about boaters insurance and then give our office, Anthony Lancaster Insurance Inc, a call to learn more about purchasing boaters insurance. 

Myth: Boaters insurance is not required, so it is not needed. 

Fact: Even if boaters insurance is not a requirement in Memphis TN, boats can be expensive, especially in the event of an accident. A boaters insurance can help protect your finances should you have an accident out on the water. 

Myth: Boaters insurance is expensive.

Fact: Many times, the price of comprehensive boat insurance is overestimated by boat owners. When compared to the amount of money, time, and effort you have put into the boat, the cost of insurance is not as expensive as you may think. 

Myth: Buying a boat insurance policy is too confusing and not worth my time. 

Fact: The lengthy contract of a boaters insurance policy that is full of jargon can be intimidating. Despite this, purchasing boaters insurance is not complicated, and your insurance agent can help explain everything, making it less confusing. 

Myth: The cheapest policy is enough coverage. Anything else would be a waste of money. 

Fact: In most cases, the cheapest policy is only a liability-only policy. Your boaters insurance policy should cover you for all the risks you may face while owning your boat, including repairs, property damage, medical bills, and legal fees. 

Make sure you are fully protected and purchase a boaters insurance policy. Call our agents at Anthony Lancaster Insurance Inc today for additional information about obtaining a boaters insurance policy. 

Who needs boat insurance in Memphis?

The Memphis, TN area can be a great place for someone to own a boat. There is warm weather for much of the year in this area and plenty of great places to use a boat. When you are going to use a boat in this area, you need to ensure that you have it properly insured. Boat insurance is needed in many different situations for boat owners. 

Those that Want to Protect Against Liability Risk

Most people that operate a boat are going to be very diligent and careful. However, there is always a chance that an accident could happen. If you do cause an accident, you will have to cover damages, which can add up quickly. Fortunately, if you get a boat insurance plan, you can get the protection needed to mitigate this risk, as you will get liability insurance protection.

Those that Use Financing

Many people that choose to buy a boat in Memphis are going to take out a boat loan. Those that would like to take out a loan to finance the purchase of a boat should make sure they comply with their boat insurance requirements. In many cases, you will need to have a full policy that will offer coverage for many different risks. 

When you are shopping for boat insurance in the Memphis, TN area, you will want to know that you are making the right insurance plan choice. One company that can help you to build and choose a new policy is Anthony Lancaster Insurance, Inc. There are a lot of factors to take into consideration as you are shopping for this coverage, and Anthony Lancaster Insurance, Inc can help you evaluate your options and pick the best policy possible. 

  • Grange Insurance
  • Liberty Mutual
  • Nationwide
  • Progressive
  • Safeco
  • State Auto
  • Stillwater
  • The Hartford
  • Travelers