Personal Watercraft Insurance – Salvage Coverage
Salvage coverage is an essential component of your boat insurance policy. However, not all salvage coverages are equal. Some policies will pay for the costs of salvaging your boat out of the agreed hull or your policy’s actual cash value portion, which can leave little or no money left over to pay you (or your bank) for the loss of your vessel. A more comprehensive policy will pay for salvage out of a separate coverage up to an amount equal to the agreed hull or actual cash value. A policy written this way will pay to salvage and replace your boat. Talk to your insurance agent to confirm if you have the right amount of coverage.
