Boat shipping insurance.
Boat shipping insurance is a must have item for private parties when your vessel is going to be transported. You want to make sure that your asset is covered in the unfortunate event of an accident. Being prepared and doing your homework is wise when it comes to shipping large valuable items like a boat. You need to know that your normal boat insurance policy is probably not going to cover your vessel when it is being shipped over the road by trucking company. The federal government’s minimum requirement for trucking companies that transport boats it is to maintain $100,000 worth of cargo insurance at all times. If this will cover the value of your vessel great. But if your vessel is valued at over $100,000 and the boat shipping company you are working with only has the minimum coverage amount you will need to talk to their insurance company to purchase additional insurance for your shipment. If the boat shipping company who have chosen to work with on your shipment has enough insurance to cover the value of your boat then you still want to do a few things. Mainly to have the insurance company lists you as a certificate holder on the insurance certificate. In the event of a claim you are listed as a certificate holder. We will walk you through the steps of dealing with a trucking companies insurance provider so you are 100% sure you have boat shipping insurance.
- Ask the boat shipper you are working with to fax you their “package”. This is a standard phrase used in the trucking industry that means I am asking you for a copy of your federal authority, insurance certificate, and your W-9. Any trucking company dispatcher will know exactly what you mean when asked for their “package”. In the event they don’t simply as them for the 3 items.
- Call the insurance company that is listed on the insurance certificate. Tell them that you would like to be listed as a “certificate holder”. They will ask you “who is the insured”? Give them the name of the boat shipping company you are working with, the name should be on the certificate. They will ever turn ask you for your address and fax number. You can set up a free e-fax account online or some companies will e-mail you a copy of the certificate as well.
It’s as easy as that. Your boat is now insured for the over the road trip you’re preparing it for. There are a few other things that you should do when deciding which boat shipping company you’re going to use. Choosing the one with the cheapest quote isn’t always the smartest option for private parties. If you have to buy additional boat shipping insurance that’s going to cost you more money as well as take time to set up. So you want to consider all of this when making your decision on which shipper to go with. You can also check out a company’s history by using our safer tool which queries the federal motor carrier database. You can learn more about that when you are learning how to select the right boat shipper for your needs.
We always appreciate your comments.
“We really really appreciated the information your company gave us on how to get our sailboat ready to ship. We started out looking for the cheapest company to hire but wound up picking one with a quote that was in the middle. They already had more things in place that would have cost us extra in the long run. Much appreciated information”.