Three things to remember when you’re selecting a boat insurance policy

Boat insurance is vital to cover you against liability damages. Boat insurance is also essential to protect the investment you make in your boat. We can help you find an acceptable boat insurance policy to cover your watercraft at OFS Insurance Agency, LLC.

The following are three things you should remember when you’re selecting a boat insurance policy in Madison, Jackson, or Clinton, MS.

The distinction between actual cash value and agreed value policies is important.

One choice you’ll probably have to make is whether you want an actual cash value policy or an agreed value policy. An actual cash value policy compensates you less in the event of a total loss. That’s because actual cash value policies reduce the amount you get on claims based on the depreciation of your boat’s value.

An agreed value policy means you’ll get back a predetermined amount in the event of a total loss that won’t change over time. An agreed value policy offers better coverage and means you’ll generally get more for claims. 

You might enjoy savings by bundling policies.

When you buy boat insurance, it’s a good idea to look into bundling discounts. If you buy your boat insurance and other types of insurance from the same provider, you may be eligible for discounted coverage. 

It’s a good idea to get 100 percent salvage coverage. 

When it comes to boat insurance, salvage coverage is essential. Salvage coverage pays the costs of retrieving a boat that has experienced an accident out on the water.

Boat salvage can be expensive, but you may be required to pay it to remove boat debris in the event of an accident. Investing in a policy with 100 percent salvage coverage can be a financial lifesaver if you ever get in a severe boating accident. 

Do you have questions about boat insurance in Jackson, Madison, or Clinton, MS?

We can help you find the answers you need to make the right insurance decision at OFS Insurance Agency, LLC. Get in touch with us to learn more.  

Why You Need Boat Insurance in Mississippi

Anyone that lives in the Clinton, MS area should consider buying a boat. When you live in this area of the state, the warm weather and access to many local waterways can make it a great investment and option. For those that are in this area of Mississippi and want a boat, getting boat insurance should be part of the process. There are many reasons why you need to get boat insurance. 

Will Ensure Eligibility

One of the reasons why you should get boat insurance when you are in this area is because it will ensure that you are eligible to use your boat in all areas. When you have a boat, there are certain areas around Clinton that will want you to have this coverage. When you have a full boat insurance policy, you will be eligible to use it anywhere. 

Gives Coverage for the Boat

Another benefit of getting a full boat insurance policy is that it will give you coverage for almost any situation. Buying a boat is a big purchase and investment, which you need to keep properly covered and protected. When you have boat insurance, it will give you the coverage that you need if your boat is stolen or damaged. Most of the time, a boat lender will also want you to have this coverage. Liability can come into play with accidents, as well. It is better to be safe rather than sorry.

There are many reasons why you will want to have boat insurance when you have a boat in the Clinton, MS area. When you are looking for a new policy, you should call the team at OFS Insurance Agency, LLC. When you speak with OFS Insurance Agency, LLC, you can receive information to help you understand your options and needs better. Contact our office to learn more about your options and how you can get started with a quote.