Boat insurance provides physical damage coverage to repair your boat if it is accidentally damaged or destroyed by a covered peril such as collision, fire, theft, vandalism, windstorm or lightning. The coverage is broad, and provides insurance for the boat, including its machinery, fittings and auxiliary equipment, outboard motors, boat trailer, permanently attached equipment (e.g., anchors), up to an agreed value, and personal property. It also covers: damage caused to someone else’s property; medical payments, for injuries to the boat owner and other passengers; bodily injury, for injuries caused to another person; and guest passenger liability, for any legal expenses incurred by someone using the boat with the owner’s permission.

A boat insurance policy can provide physical damage coverage on an Actual Cash Value or an Agreed Amount Value basis. Both types of boat insurance policies offer important coverage, but with significant differences. It's important to understand both:

• Actual Cash Value policies pay for replacement costs less depreciation at the time of the loss. In the event of a total loss, used boat pricing guides and other resources are used to determine the approximate market value of the vessel. Partial losses are settled by taking the total cost of the repair less a percentage for depreciation.
• Agreed Amount Value basis policies mean that you and your insurer have agreed on the value of your vessel and in the event of a total loss you will be paid that amount. Agreed Amount Value policies also replace old items for new in the event of a partial loss, without any deduction for depreciation. 

And because you're a savvy consumer, you should know that discounts for the following are generally available:

• Diesel powered craft, which are less hazardous than gasoline powered boats as they are less likely to explode
• Coast Guard approved fire extinguishers
• Ship-to-shore radios
• Two years of claims-free experience
• Multiple policies with the same insurer, such as an auto, homeowners or umbrella policy
• Completion of safety education courses  

Armed with this information, you're now ready to score the yacht that will make you look like a boss and the California watercraft insurance to back it up. So don't hesitate to give the agents at Roger L. Stevens Insurance a call. We'll make sure that you enjoy your time on the water without having to worry about what could go wrong. Our agency specializes in writing insurance policies for boaters, so you can be certain we will provide you with the best protection available.