Canoeing and Kayaking

Boat has caught the fancy of man since time immemorial. People possessing a boat, yatch, canoe, ship or liner is always proud to exhibit their beautiful assets. While sailing they think of them as the ruler of the sea.

Though it is compulsory to insure a motor car there is no such compulsion for boats ( Most countries do not require boat operators to carry insurance coverage while their boats are on the water. However, to protect both the owners and the boats it is wise to purchase boat insurance. No one ever think anything is going to happen to them. However, in reality it is different. Therefore, we should be always prepared to face any unwanted situations at any moment.

Whenever we purchase a boat, the first thing that we should remember that it is our asset and we have to protect it from any loss or damage. Anything may happen for which we may not directly hold responsible.

Our boat may be damaged by natural calamities or by other boat plying on the water or it may got stolen or caught fire. Afterall, we have to face the financial loss. So it is better to make boat insurance without entering in the debate if it is required by the law or not.

The nature of boat insurance depends on the nature of the boat. If the boat is inexpensive or small and that may cause little damage to other’s property or life then we can go only for medical coverage or third party liability coverage policy. However, if the boat is an expensive one or a vessel or cargoship, which is, not only costly but carries passengers and valuable cargoes then we must go for comprehensive coverage. Comprehensive coverage is the most expensive policy for boat insurance.

Again, boat insurance policy is based on either Actual Cash Value or Sum Agreed upon. In case of Cash Value policy if the boat is lost completely, the owner will get the existing market price without any deductible and suitable reduction and in case of Agreed Value policy the sum compensated in the case of complete loss will be the amount of money printed on the policy.

After determining the type of boat insurance policy as suit best with the type of boat is concerned, we should carefully compare the rates in the market ( Different insurance house have different rates on the same type of coverage and some of them give discounts on premium. At the same time, we should have a good knowledge about the reputation, financial stability and the nature of service provided by the companies when such situation arises.

Since the canoe is ours, it is our prime responsibility to protect the boat from any mishaps and so get it insured without going to the argument if it is required by law or not.