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FAQs About A Personal Watercraft Insurance Policy

In California, watercraft owners assess coverage to protect this investment. While they will use it primarily in the summer time, the owner needs coverage to protect their investment as well as prevent issues associated with liabilities. These liabilities could lead to major financial hardships for the owner. The following are FAQs about a Personal Watercraft Insurance Policy.

What is an Agreed Upon Value for a Watercraft?

An agreed upon value is the value that the owner will accept to replace the watercraft if it is a total loss. This value isn’t necessarily a market value. However, the claim’s adjuster may provide a value based on what the watercraft would sell for if the owner chose to sell it. If the owner wants to acquire a higher value, they need the policy to offer the true replacement value.

What are Navigational Restrictions?

Navigational restrictions indicate the directional limitations of certain services provided by the policy. If the owner travels outside of this range, they cannot acquire towing services for the watercraft. The owner will need to increase the range based on the distance in which they wish to travel. If the owner doesn’t increase the range, they won’t acquire these services as needed.

What Type of Liability Coverage is Needed?

The owner of a watercraft needs liability coverage in the event that they are involved in an accident. The liability coverage pays for any medical requirements of passengers or individuals who were injured. It also pays for any repair costs required by the victim.

What are the Benefits of Umbrella Policies?

An umbrella policy allows policyholders to add multiple policies into one. It enables them to reduce their overall premiums and make them more affordable. The policyholder could also acquire even further discounts for the policies by utilizing an umbrella policy.

In California, watercraft owners need adequate coverage through the right policies. These policies must provide coverage for the watercraft as well as liability coverage to protect this investment. The owner also needs additional services for their watercraft including towing options. Owners who need to acquire a Personal Watercraft Insurance Policy visit Coastautoinsurance.com for more information today.

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