Ocean Realm

Coverage of a watercraft can range from total replacement of the vessel if destroyed, to personal liability coverage, and everything in between. When deciding on what policy is right for you, consider what your needs and risks are, and how much you are willing to spend to protect them.

Full coverage boat insurance is the safest route for the boat owner who wants to insure his valuable property. With full coverage the boat owner can opt to ensure the cost of replacing the vessel if it is totally destroyed. Coverage can also include damages to either the boats structure, or engine. Coverage for loss or damage to personal property while on the vessel may also be included. Other options can include injury protection, salvage or wreck removal, loss of use reimbursement, towing costs, and even investigative services.

From sailboats to yachts - fishing boats to boats made especially for water sporting, the variety of watercraft on todays market makes it more possible than ever before to find the perfect vessel to meet all of an individuals boating needs. Whether an avid skier, or a beginning sailor, one thing all boaters seem to have in common is enjoying all of the pleasures of sun, sand and water.

Just as boating enthusiasts differ in their boating preferences as well as in the way they use their vessels, boat insurance coverage options also differ, depending on the boats uses, its monetary value, and its importance to the owner.

From simple liability insurance to full coverage life and property insurance, the boat owner will find many available options. Deciding on the right option, however, can be a tricky matter.

The actual number of piracy attacks that were reported worldwide in 1999 rose nearly 40% in just one year. Whats more those figures nearly tripled between 1991 and 1998, according to the ICC International Maritime Bureau in London (IMB).

In the year 2000 a report conducted by the International Marine Bureau in London, also showed that annual losses due to piracy totaled over $200 million dollars. Even more alarming is the increase in weapon usage by modern day pirates such as guns and knives. Internationally a significant number of deaths, as well as serious injuries, are attributed to piracy each year.

Modern pirates may not have wooden legs and eye patches. They also may not be waving the Jolly Roger from a top their sails. Instead these criminals often navigate vessels that do not appear out of the ordinary. They will generally board a cargo vessel before the captain realizes that they are thieves. Modern pirates may do one of three things: rob the crew/passengers aboard the vessel; rob the vessel of its goods and cargo; or hijack the entire vessel.

If your vessel is more than 10 years old your insurance carrier may require you to receive a Marine Survey, to certify that the boat is both safe and seaworthy. The Marine survey will also give your insurance carrier an idea of what the vessel is worth, according to fair market value, an important aspect in getting an accurate insurance quote.

A marine survey can benefit you in several ways. While you may contract the survey to be done because an insurance carrier or potential lender has required it, it may save you money on your insurance premium, in the long run. A thorough survey can also identify potential problems that you may not have been aware of, helping you to avoid an unwanted accident, or break down on the water.