Boat on house policy

[Mark Tr.]

I have my house and vehicles insured with Farm Bureau, my agent put my boat on my house policy. Is that a good idea or not?

[geodebasser]

Ask your agent the following questions and you will find out if it is a good idea or not.
1. Is the boat covered for actual cash value or replacement cost with
agreed amount value? Actual cash value is the depreciated value .
Covered repairs are also discounted in regard to the age and
condition of the boat, motor or trailer.. With ACV you will most likely
have to come up with substantial money out of pocket for a loss
or repairs.
2. Are my accesories such as trolling motor, electronics ,fishing rods and
reels, and tackle covered for theft or loss with adequate value?
3. Is there coverage for pollution spills? A boat that sinks or catches on fire
has the potential to leak gasoline and other pollutants in the lake or river.
EPP can hold you responsible for the clean up.
4. What are my liability limits? Are they adequate to protect my net worth in
case I cause injury or property damage to another boater or someone
in my boat that is my fault? In addition will the company pay for my
defense in this event? Does the insurance co. cover punitive damages?
Does my liability coverages extend to tournament fishing and club activites?
5. Do I need towing coverage in case my boat or trailer break down? What
are my limits?
6. If I have a boat claim will it effect my homeowners or auto rates as I have
all my coverages with the same company?
7. Once you are satified that you have the proper coverages then how does the
price compare with other companies that offer the same coverages?

I feel confident that if you ask your agent these first six questions you will
have an answer to your question! You might have to shop around in regard
to question seven. Make sure all agents are providing the coverages
that you ask for and the same limits. Also look at companies
that specalize in bass boat coverages.