Even if the weather in Memphis, TN was nice enough for boating year-round, other obligations would probably keep you from being able to go boating all the time. Between work and family, your time on the water is probably a lot less than you want it to be.
When you look for boat insurance at Keltner Insurance, you may wonder if you can obtain a policy that only covers the months you can really take advantage of your boat. It seems like a waste of money to pay for insurance when your boat is sitting in storage. If your boat is stored at home, your homeowner’s policy may even protect your boat somewhat.
Unfortunately, there is probably a limit to how much your homeowner’s policy will pay if, for instance, there is a fire or your boat is stolen. After certain limits, you will be on your own, because the policy will specify what kinds of items are covered. If your boat is valuable at all, the coverage probably won’t be enough.
If you still owe money on your boat, there is probably a clause that is part of the loan that says if you don’t carry insurance, your lender can attach a more expensive, less advantageous policy and add the money to your loan. That is a normal policy because it is still their investment too until you pay off the loan.
If you are in Memphis, TN and you have a boat you need to protect, it will probably surprise you how affordable it is. Call Keltner Insurance today for a free quote.