High Performance Boat Insurance
High performance boat aka go fast boats or cigarette boats need to be thoroughly insured. Following are some coverages and limits you may want to consider for your high performance vessel.
- Agreed Value of the boat with a company offering sensible rates. This is where you agree to the value of the boat with your insurance company at the time it’s written
- Hull values with limits up to $1 million
- Liability Limits up to $5 million
- Personal Effects up to $2500
One other coverage may important to obtain. Towing coverage. That’s because the Coast Guard no longer offers towing help if there is no danger to lives or property.
The charge of towing by a commercial tower averages $100 to $150 per hour. That covers the time from when the tow gets under way until the tow boat returns to its dock.
There may be requirements to getting insurance such as a minimum hull value, length and the age of the boat .
Check with your agent to make sure you get the precise coverage you need for your high performance vessel.
Steve Wyrostek -BoatInsurance.org Expert A 20 year plus veteran of the insurance industry, Steve managed departments in the personal and commercial lines areas of major insurers. He’s familiar with how insurance—ranging from boat to workers compensation—works.
