Hausmann Insurance & Financial Services

2313 Randolph Rd
Charlotte, NC 28207

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Hausmann Insurance & Financial Services Blog

Benefits of Boat Insurance

At Hausmann Insurance & Financial Services, we serve our North Carolina clients with boat insurance, and we often get asked about its benefits. 

Why Boat Insurance?

Charlotte and Waxhaw, NC residents are not required by law to carry boat insurance, however, if you carry a balance, your lender will most likely compel you to purchase indemnification. In addition, many marinas and docks require proof of coverage to use their resources. 

Another benefit to having boat insurance is that your guests may be protected in the event they are injured and have medical costs or lost wages. They may also suffer property damage or loss, and you could be the target of a lawsuit. 

Your boat may also be affected by vandals who take specialty equipment or accessories and for which you can take an inventory ahead of time to document key details, such as price paid, receipts, and condition. Speak to your Hausmann Insurance & Financial Services agent for information on customized coverage for your upgrades. 

In the event that you collide with another vessel, your boat insurance will help you fulfill your responsibility to pay for any property damage, medical expenses, and resulting legal fees. 

There are other perils your boat may face, such as the dangers that occur during transport over land. When your watercraft is parked in your driveway, it can also be subject to the elements, such as falling tree branches, ice, and extreme temperatures. While in storage, your vessel may be affected by issues such as pest infestations, rot, mold, water damage, or fires engulfing the unit. 

Give Us A Call

Hausmann Insurance & Financial Services can help you find the specialized insurance products and services that you need to ensure you are well-protected in every facet of life. We invite you to reach out to us for more details, and we are available by phone, online, or in-person meetings, serving those in and around Charlotte and Waxhaw, NC. 

4 Things to Look for in a Good Boat Insurance Policy

Owning a boat is a lot of fun. It’s a great way to relax and enjoy the outdoors. But it’s also a big responsibility. One of the things you need to think about as a boat owner is an insurance that provides the necessary coverage.

A good boat insurance policy not only protects your investment but also provides peace of mind in case of an accident. And it can help you get back on the water quickly if your boat is damaged or stolen. So, what should you look for in a good boat insurance policy? Hausmann Insurance & Financial Services serving the greater Charlotte, NC and Washaw, NC communities is here to provide a guide. 

Here are four things to consider

1. Coverage for Towing

Most boat owners never sit still for long. They’re always on the move, exploring new waters and discovering new places. That’s why it’s important to have coverage for towing and labor in your boat insurance policy. If your boat breaks down or runs aground, you’ll want to be covered for the cost of towage and labor to get it back up and running. 

2. Vermin and Animal Damage Coverage

No one likes to think about it, but animals can do a lot of damage to boats. Birds can nest in engine compartments, and chewing rodents can destroy wiring. That’s why it’s important to have vermin and animal damage coverage in your boat insurance policy. This will help cover the cost of repairs if your boat is damaged by an animal.

3. Personal Effects Coverage

Your boat is more than just a piece of equipment. It’s also your home away from home. That’s why it’s important to have personal effects coverage in your boat insurance policy. This will help cover the cost of replacing any personal belongings that are lost or stolen from your boat.

4. Agreed Value Coverage

One of the most important things to look for in a good boat insurance policy is agreed value coverage. This type of coverage ensures that you will be reimbursed for the full value of your boat in the event it is lost or stolen. It’s important to choose an insurance company that agrees with you on the value of your boat so you know you’ll be fully compensated if something happens to it.

Give Us A Call

These are just a few of the things to look for in a good boat insurance policy. When shopping for insurance, be sure to ask about all of these coverage options to make sure you’re getting the best protection for your boat. Hausmann Insurance & Financial Services serving the greater Charlotte, NC and Washaw, NC communities can help you find the right boat insurance policy for your needs. Give us a call today to get started.

Can Boat Insurance Cover Older Boats?

With attention, care, and knowledge, a well-made boat can last for centuries. The USS Constitution has been afloat since the 18th century, and you can still walk her deck today. Hausmann Insurance & Financial Services serving Charlotte, NC wants you to know your boating insurance needs so you can be financially confident whether you’re cruising the Atlantic or boating around Lake Norman.

Does Insurance Cover Older Boats? 

In a broad sense, insurance policies may cover just about anything that is not a crime perpetrated by the policyholder. Residents of Waxhaw, NC or the larger Charlotte area do not have to worry directly about the age of the boat. Instead, the split is between smaller boats under 26 feet as boatowners’ policies, with larger boats covered under yacht policies. Like any other insured vehicle, the insurer will assess the condition of the boat and the intended operators when determining the terms of a policy.

Do Older Boats Need Insurance?

Insurance requirements vary between states, but North Carolina residents do not have to carry a minimum level of insurance. Smaller boats may also qualify for limited coverage from a homeowners’ policy. In a financial sense, being in a boating accident without at least minimum liability coverage can be a recipe for disaster.

Check If Your Old Boat Needs Insurance Today

Hausmann Insurance & Financial Services knows that Waxhaw, NC and nearby friends work hard and need to carefully balance costs like insurance premiums with the realities of day-to-day life. Contact us today to find out your options for boat coverage, including ways to prepare your older boat before an insurance inspection.

Boating Safety Tips

Going out on the boat can be a fun outdoor activity in Waxhaw, NC. In addition to having fun, it is essential to pay attention and keep yourself and everyone on the boat with you safe. Before you go out and launch your boat, check out these safety tips. Also, give us a call at Hausmann Insurance & Financial Services’ Charlotte to discuss how to protect your boat with an insurance policy. 

Keep Navigation Lights On

When traveling on the water at night, you should keep your navigation lights on. Having your lights on from sunset to sunrise ensures other boats can see you. In addition, keeping the lights on lessens your chance of having an accident with another vessel. 

Do Not Overload the Boat

Check the vessel’s capacity and carry the number of allowed passengers and weight the boat can handle. Overloading the boat can make it slow in the water and could cause it to tilt more to one side or another and possibly capsize it.

Have Life Jackets Available

There should be enough life jackets on board for each passenger to have one. Additionally, young children and those who are not strong swimmers should wear their life jackets at all times while out on the water. 

Check the Emergency Kit

An emergency kit, complete with navigation charts, flares, a first aid kit, and fire extinguishers, should be kept on the boat at all times. Regularly check the emergency kit to ensure everything is there, and nothing has expired. 

Tell Someone Your Boating Plan

Tell someone who is not going out on the boat with you where you plan to be and what time you will return. Then if you do not return, there is someone who can alert the authorities and tell them where to start looking for your boat. 

Before you go out on the water in Waxhaw, NC, call our office at Hausmann Insurance & Financial Services’ Charlotte for details on how to protect your boat. 

What Boat Insurance Covers

While you enjoy the lakes and coast of North Carolina, Hausmann Insurance & Financial Services, serving the Charlotte metro area, wants you to understand why you need boat insurance. Your boat in Waxhaw, NC could sustain damage while on the water, in the marina, on the road to the water, or to dry-dock. Your boat insurance policy protects it in all of those situations.

The same boat policy that provides you with property damage protection also provides you with liability coverage. Liability insurance pays if you cause an accident that hurts another person or their property. If you hurt an individual while operating your boat or an individual hurts himself while operating the boat, your liability insurance pays their medical bills. It also covers any court settlement that arises from the injury.

A boat policy contains a few types of insurance. It contains a liability policy, collision, comprehensive, and property damage coverages.
You probably think that makes it sound like an auto policy, and it does. It provides the same types of protection. The collision component covers accidents with collisions on the water or road, though.

Most states do not require boat insurance, but you need it all the same. The only protection your home insurance provides is the liability, which typically equals ten to twenty percent of the home value. That can quickly erode when an accident occurs since the average hospital stay costs $15,000. The home policy also provides little property damage coverage for the boat. Could you financially withstand having to purchase a replacement boat? If the answer is no, you need boat insurance.

Contact Hausmann Insurance & Financial Services to learn more about boat coverage and other watercraft insurance. Although we’re located in Waxhaw, NC, we serve the Charlotte metro area.