Enjoying water sports is one-of-a -kind experience, especially when you are having fun in your own boat. Cool breeze, warm sun – what more can one ask for?
It goes without saying that your boat is a valuable possession for you, and this is the reason that you don’t want to get it damaged.
However, if you want to float on it worry-free, it is essential to get the right boat insurance coverage in Mexico.
What is Mexican Boat Insurance?
Mexico's navigation law requires vessels to carry civil-liability insurance (Ley de Navegación y Comercio Marítimos, art. 176). The Mexican boat insurance SmartGringo links to is Baja Bound's watercraft policy, which is liability cover: it pays for damage or injury you cause to others. Physical damage and theft of your own boat are not covered, and passenger medical payments are excluded (Baja Bound watercraft page). Legal assistance is a call away, available 24/7 (same page).
Insurance Factors
You can insure all kinds of vessels – although for a price. A quote form will ask about the vessel. Factors an insurer may weigh include:
- Length of boat
- Age
- Value
- Its operating modes
- Ownership (the boat is owned by how many owners)
- Type of boat (think of saltwater fishing boat, inboard, outboard, cruiser, bass boat, utility and the like)
- Primary residence
- Homemade (these boats do not have a serial number and insuring them could be tough)
- Speed and horsepower of the boat
Towing the Boat to Mexico
Baja Bound's FAQ says the watercraft policy covers the boat only while it is on the water. If your boat will be towed, list the boat and the boat trailer on your primary vehicle's Mexican auto insurance policy (same FAQ).
Making Insurance Claims
We really hope that you never need to make any boat insurance claims. But if you are required to do so, it is always recommended to keep yourself prepared. You could skip carrying proof of insurance on your boat but you are required to keep all the related information handy so that you can use it when needed.
While buying a policy, make yourself aware of how things work and how claims are made. Ideally, it should be pretty straightforward and easy. Also, ask your policy provider is an agent will be able to help you deal with the processes in case of an accident.
Naturally, you would also expect them to help you in handling the aftermath of a claim like towing your boat to a safe location, and the like.
Finding the Best Boat Insurance
Start your hunt for the best boat insurance by focusing on facts. Ask your friends and relatives about the best boat insurance company and how their claims are handled.
For more information, contact us today.
Still uninsured on the water? Price cover for the boat.