Facts about Boat Insurance and Registration

Registration process of a boat is different in every county throughout the US. Also,registration depends on the boat type, and the place where one shall be using the boat.If you are going to use boat in a public waterway, you need to check with your local boatregistrant. If you are using your boat in your own lake or pond for personal use, you willprobably not need to register it. Many types of boats (especially 10' and under) do not needto be registered.Who to register the boat with is another question. All counties have different rules nregulations. Best way is to ask your state department of transportation or motor vehicledivision. Most states give a grace period of 30 days from the time you purchase to the time youneed to register it.Most important document needed for the registration purpose is the sales receipt. Fewrequire a manufactures statement of origin, also known as MSO.And finally, it goes without saying, a registration fee is required. Fees range froma 10$ annually to value based percentage formula's.Another important thing to be done after getting a boat is insuring it. Insuring aboat is very necessary cause boat damages are inevitable in spite of all the care taken. Manytypes of insurance policies are available. But, many states require the watercraft liabilityinsurance which covers the event of damage caused by your boat to another person of hisproperty.One should insure the boat for its market value. They should insure the value of theboat, not what is paid for it. They should also increase the coverage to reflect the increasingvalue of the boat. One can also insure the boat for an agreed upon replacement value. Thehigher the agreed replacement value of your boat, the higher will be the cost of the insurancepolicy.Boat insurance should cover both physical damage to your boat as well as accidentliability.Physical damage insurance is usually called hull insurance, although it generallycovers the whole boat. These insurance policies also repair the boat with a deduction fordepreciation.The limit of liability is based on whether or not the insured is legally requiredto raise, remove or destroy the boat. Theft of the boat will not be covered by the policy ifthe boat is off the residence premises. Liability may also provide coverage for legalrepresentation should it become essential from any incidents involving your boat.With proper registration and well insured boat, one can happily boat without anythingto worry about and rejoice the moments..

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