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Things to know before availing of a boat insurance

Things to know before availing of a boat insurance

If you own a new boat, it is highly likely that you are looking for boat insurance options. The first and the most important piece of information you must know is that it’s best to get a separate boat insurance. Most owners are often under the assumption that boats are covered under the homeowner’s policy. However, many of these policies have a limitation on marine-specific risks. Although a homeowner’s policy may be suitable for boats with a horsepower limit of 25 to 100, they may not cover all types of damages and repairs. They also are applicable only for lakes, rivers, and inland waterways. If you want your boat to venture into the ocean, then it is best to consult with a professional marine insurer. Insurance providers offer a variety of boat insurance coverage depending on your needs. While choosing an appropriate policy, it is important to take the following factors into consideration. Age of the boat Value, speed/horsepower, and length of the boat Type of the boat (cruiser, yacht, inboard, outboard, fishing boat or performance boat) The condition of the boat (the boat must meet the US Coast Guard Standards) Ownership (no more than two owners) Area of operation (lake, river, backwaters, ocean) Primary residence (whether the boat is used as a primary residence) Types of coverage The coverage largely depends on the type of policy you choose, agreed value or actual cash value.
Top credit cards of 2018

Top credit cards of 2018

Credit cards are a must-have. They help you to manage your finances in a better way. Choosing the right credit card based on your needs is an important decision. We have listed down the best credit cards of 2018 to simplify your task. Chase Sapphire Preferred Credit Card This card was once awarded the title of the Best Travel Credit Card. It offers a bonus and easy-redeem travel rewards. It carries no foreign transaction fees. When you spend $4,000 in the initial three months, you earn 50,000 bonus points. This means you get a credit of $625 while booking your travel through Chase Ultimate Rewards . Besides, you also earn twice the points when traveling and dining across the globe. BankAmericard Credit Card One of the best credit cards of 2018, this card comes with no annual fee. It also comes with a zero percent intro Annual Percentage Rate (APR) for 15 purchase billing cycles. For the first 60 days, the intro balance transfer fee is also nil. Post that, it is three percent. There is no penalty APR. This means that if you pay late, your APR would still be unaffected. Discover it – Cashback Match This card offers a cashback match to new members for the first year.