Most people are familiar with the concept of health insurance, home insurance, and auto insurance. It’s true that those are the most well-known types of insurance, but there are many other types that cover other things such as ATVs, valuable collector’s items, and boats, among many others. We are here today to talk about boat insurance and who benefits most from having boat insurance.

What is boat insurance?

Before we talk about the types of people who benefit from boat insurance, we first need to talk about what boat insurance is. Boat insurance coverage varies between different insurance companies. There are a number of different types of boat insurance coverage. These include the following:

• Physical damages and liability

• Personal property

• Emergency towing and assistance

• Medical payments

• Uninsured or underinsured boater coverage

Who would benefit from boat insurance?

A boat insurance policy would be a smart idea for you if you own a boat or yacht and you use it frequently. A wide variety of policies and coverage options are available when it comes to insurance policies. In order to determine what boat insurance plan will be suitable for you, you should carefully review the policies offered by your insurance company before deciding on one.

Contact Our Office

There are many different factors that play into deciding if boat insurance is right for you and what policy ideally suits your needs. Unlike other types of insurance, boat insurance is very different from other insurance companies. If you own a boat and wish to have it insured, give us a call or visit us at Colling Insurance Services Inc. in Lakewood, CO.

Do you ever wonder if you have sufficient liability insurance in the event of a lawsuit? Colling Insurance Services Inc. can help you become financially secure with this coverage. All you need to do is contact our office in the Lakewood, CO area.

What is umbrella insurance?

Umbrella insurance coverage protects you against a financial disaster due to certain types of events that could lead to injury or property damage for which the policyholder is held liable.

Those who have worked diligently to build significant assets and wealth need this coverage. Why? If you are in a car accident in which you are held liable, will the limits of your liability coverage be enough to settle a lawsuit? With a $100,000 liability limit and a demand for a $1 million settlement, you would be short $900,000.

To settle this lawsuit, your home, any assets you have, or even your business could be at risk.

Simply put, umbrella insurance is excess liability coverage beyond the limits outlined in your homeowners, car, or watercraft insurance policies. It is for costly situations where medical expenses or repairs exceed the limits of these policies. Think of it as “asset” protection against a lawsuit.

Umbrella insurance also covers you for incidents such as slander or defamation lawsuits that other policies do not cover. Usually, all household members are also covered by the umbrella policy.

There is other coverage that is not found in standard homeowners or car insurance policies. For example, detention, false arrest, imprisonment, malicious prosecution, wrongful entry, and invasion of privacy are also covered.

So, contact the pros at Colling Insurance Services Inc. today if you want the added liability protection an umbrella insurance policy can provide. They will give you a no-obligation quote or answers to any questions you may have.