You love your new boat and will want to protect it with an appropriate amount of boat insurance. According to the boat insurance agents at the Franklin Insurance Agency in Rio Rancho, NM, there are several coverage options you can choose from.
While boats are not required to be insured in the state of New Mexico, it is recommended to protect the investment you have made in your boat. Also, if you borrowed the money for your boat, you will be required by your lender to have boat insurance in place. Remember that boats in New Mexico must correctly display their validation stickers and registration number, even though boat insurance is not required.
Liability Boat Insurance
Liability boat insurance is critical since it can help you pay for any damage you cause to someone else’s boat or other property and even injuries that may result from some type of accident out on the water.
Comprehensive and Collision Insurance
If your boat catches on fire, is damaged by vandalism, or is destroyed by a hurricane or some other type of natural disaster, you will be grateful that you have comprehensive insurance in place since it can help you pay for the necessary repairs to your boat. Comprehensive insurance can also help you replace your boat if it is stolen.
Collision insurance will assist you in paying for damage to your boat if you collide with another boat or even a stationary object, such as a dock or wall.
To obtain the appropriate amount of boat insurance, contact the boat insurance agents at Franklin Insurance Agency in Rio Rancho, NM today!