With Mvitsa Boat Insurance, you’ll get agreed-value cover for your boat, at a great price. We’ll even show you how to reduce your premium, get special rewards and discounts, and have your excess waived. It’s uncomplicated Boat Insurance – so every time you get on the boat, you’re in for plain sailing.
Get your Boat Insurance quote today and unworry.
For physical loss or damage, coverage includes the hull, machinery, fittings, furnishings and permanently attached equipment as part of either an actual cash value policy or on an agreed amount value basis. These policies also provide broader liability protection than a homeowners policy. But there are distinct differences between the two types of policies.
Actual Cash Value policies pay for replacement costs less depreciation at the time of the loss. In the event of a total loss, used boat pricing guides and other resources are used to determine the vessel’s approximate market value. Partial losses are settled by taking the total cost of the repair less a percentage for depreciation.
Agreed Amount Value basis policies mean that you and your insurer have agreed on the value of your vessel and in the event of a total loss you will be paid that amount. Agreed Amount Value policies also replace old items for new in the event of a partial loss, without any deduction for depreciation.
These risks may include:
- Sinking
- Fire
- Storms
- Theft
- Capsizing
- Stranding
- Collision
- Explosion
Boat insurance also covers:
- Bodily injury—for injuries caused to another person
- Property damage—for damage caused to someone else’s property
- Guest passenger liability—for any legal expenses incurred by someone using the boat with the owner’s permission
- Medical payments—for injuries to the boat owner and other passengers
- Theft