When it comes to owning a marina, you have to consider marina liability coverage. This will protect you, in the case of a lawsuit or in case of an accident. Unfortunately, as you shop, you may come across myths. Here are two common myths debunked.
Marina Liability Costs Higher Due to Hurricanes Elsewhere
There is a rumor that marina and boat insurance costs are determined by storms. If you live in a state with hurricanes, this may be the case. However, if you have a marina in a state without hurricane risk, you don’t have to worry about your prices skyrocketing due to hurricane damage somewhere else.
Marina Insurance is Cheaper When Purchased From the Home or Car Insurance Company
While there are companies that offer discounts if you have multiple policies from the same insurer, this isn’t always the case. If you choose an insurer that does not specialize in marina liability coverage, you might find yourself underinsured. It’s important that you look around for the best deal available.
Given that myths may make you decide against insurance, it’s important to know the ins and outs. You need to be able to tell the truth from the myths, if you want to protect yourself and those who use your marina.