Which Comes First: The Boat or the Boat Insurance?

What comes first, the boat or boat insurance? Does it seem like this is another case of the egg and the chicken?

So you’ve decided to buy a boat, but something is unclear. Should you pick the boat first or purchase boat insurance first? 

While this is a tricky question, our experts at The Smith Insurance Group Inc. can help you with insights that will help you make the right decision. 

Buying a Boat vs Boat Insurance

If you’re buying a boat, you’re probably making a substantial financial investment. A boat is not something you buy today, damage it, then buy another one tomorrow. When you buy one, you need to protect it right from day one. 

Protecting your boat means having sufficient insurance cover before turning on the engine. If anything happens immediately after starting the engine, you’re financially liable. The boat might be involved in an accident shortly after that leaves it damaged or someone else severely injured. 

You need to be aware that a homeowners’ insurance policy doesn’t cover your boat, neither is your auto insurance. You might have other types of coverages, but you’re not safe as long as you don’t have boat insurance. If anything happens, you have to pay all the bills from your pocket. Is this manageable? Probably not!

The Choice

If you need to buy a boat in Sandy, UT, it’s only wise first to consider the insurance policy that will adequately cover your investment. Ask around to understand the boat insurance expenses in your area. You can then factor in that amount in your final boat purchase cost.

The bottom line is, you cannot buy a boat before considering the insurance cost. So the boat insurance comes before the boat. 

Do you need boat insurance in Sandy, UT? Reach out to The Smith Insurance Group Inc. for more information concerning the cost of boat insurance.