New Bedford, Boats, and Insurance

It’s no secret that New Bedford has a rich seafaring history. Countless sailors have made New Bedford their port home. Many more plied Buzzards Bay and Nantucket Sound in search of both pleasure and booty. Some never returned. Our area has some of the most hazardous conditions in the world. In fact, Nantucket Island was used in World War ll as a United States Air Force training base for pilots because of its constant foggy environment.

Today we live in a different world with regards to technology, but not weather and ocean conditions. The same fog that made Nantucket a perfect training base still causes major headaches for navigators who consider the South Coast home. Most boaters (pleasure and commercial) understand the risks of boating and take it seriously. Things can happen very quickly on the water. Without the proper safety equipment it can turn tragic even faster.

When considering your own “safety net,” boat insurance can mean real peace of mind.  Here are some guidelines to keep in mind when shopping for boat insurance:

1) Hull and machinery/ boat and boating equipment * (agreed value on total loss)
2) Boating liability $500,000 (recommended)
3) Uninsured boater $500,000 (recommended)
4) Pollution (very important)
5) Medical Payments
6) Personal property
7) Dinghy/tender
8) Commercial towing and assistance
9) Hurricane Haul-out reimbursement

*Agreed Value means the company “agrees” to pay you the face amount of the hull and machinery if the boat is deemed a total loss. No depreciation for age, or condition. If your policy doesn’t say “agreed value” then the claim will be settled based on Actual Cash Value. That’s less depreciation for age and condition. It’s about 20% more expensive for the Agreed Value. But, it’s far better coverage.

**Some boaters fish for money on their pleasure boats. You can often by a “sell the catch” endorsement which covers the “business” exposure. If you do sell the catch, this is important.