Boats are assets that owners love and hate at the same time. When you are out on an open body of freshwater or out on the ocean, there is nothing like being on a boat. That being said, you need to factor in things such as maintenance, repairs, and insurance. Boat insurance is something you want to consider if you own a boat in Pinecrest, FL, and surrounding areas. The team at Hamilton Fox & Company Inc. can help you understand how the age of your boat impacts the insurance.
Boat Insurance and Age Connection
There is a connection between the age of your boat and boat insurance. With boat insurance, every insurance carrier will be different in terms of how the age of the boat impacts things. Some insurance companies will not provide insurance for a boat if it is over 20, 30, and especially 40 years old. It all comes down to their risk appetite.
Factors Outside of Age
There are also going to be other factors outside of age that will have an impact on boat insurance. Some of these factors include the type and usage of the boat. If you have a boat with multiple engines, that insurance risk will be higher than a smaller boat with a single engine. The vessel’s location will also come into play regarding how it impacts the insurance.
Pinecrest, FL boat owners need to consider various variables as they consider boat insurance. The age of your boat will impact things, and the team at Hamilton Fox & Company Inc. can help you understand the impact and learn about boat insurance overall.