Collision Boat Insurance Basics: Guide To Policy Exclusions & Limitations 2023
You've just forked out thousands of dollars on a brand-new boat and the last thing you want is for it to be declared a total loss!
Accidents happen and, if you're not adequately covered, you could find yourself without a boat within weeks.
When the cost of repairs exceeds the market value of your vessel, you could be up the creek!
With its latest guide, Marine Insurance Now explains the criteria relating to total loss, helping you to make more informed decisions on which collision coverage is right for you.
The guide explains the term salvage value as the monetary value of your vessel after it has been damaged or declared a total loss.
“Understanding the salvage value of your boat can help you make informed decisions about whether to repair or replace it after a collision,” the experts explain.
Learn more at https://marineinsurancenow.com/coll ision-boat-insurance-what-youneed-to-know/
Read the full guide today!