Ensure Your Boat Is Protected from Theft

Theft and Boat Insurance Murrieta CA

Having your boat stolen can be a shocking experience; minimize the loss with insurance.

Around 6,000 boats are stolen within the United States annually, with personal watercraft being the largest target. Luckily, there are ways to protect yourself from being robbed of your boat, and ways to decrease the financial loss should a theft occur.

It matters where your boat gets stolen.
Boats are frequently stolen when they are on a trailer. If this is the case, your boat may be covered by your boat insurance if you selected the appropriate property coverage. Boats that are taken from your dock, marina, or mooring are often covered by property coverage in your boat insurance policy. A marine storage building should have insurance from the owner of the facility, although your policy may provide additional coverage.

Your equipment can be covered.
The permanent equipment that is attached to the boat is usually covered by comprehensive boat insurance. Typically, other accessories such as navigation devices, televisions, sound systems, scuba diving gear, and fishing equipment receive coverage through an additional policy.

The reimbursement depends upon the value.
If your boat was to be stolen, boat policies are generally written as “actual cash value” or “agreed value”. The definitions for these are:

  • Actual Cash Value: If your boat is declared a total loss, the actual cash value is typically the fair market value of the boat at the time of loss.
  • Agreed Value: A specific amount you and your insurer agreed to when buying the insurance.

Be sure to recognize which value your policy provides before buying.

Here at CorMarc Insurance Services, we provide the best policy for you and your watercraft in Murrieta, California. We guide you through the process of selecting the right watercraft insurance so that you can protect your boat from theft. Contact us today to get started!