Tag: boat insurance

JULY 2017 ISSUE OF THE PROTECTION COACH

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The July 2017 update of Mike Stromsoe’s The Protection Coach® has arrived.  This issue is jam-packed with all the latest news and tips for clients and friends of Stromsoe Insurance Agency.

The Protection Coach® – July 2017 (Click Here to Download)

Inside this edition..

  • Welcome Our Newest Team Members—TWINS!!
  • Camper Trailer Tips
  • Want To Save Money? Check It Out!
  • Quick Tips: 4th of July Safety Tips
  • Our Client Of The Month for July is David & Christine Ripka of Ripka’s Equipment Repair.  Thank you so much for allowing us the opportunity to serve and protect everything you work so hard for.

Your Boat Inspection Checklist

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Before you make the final purchase of that boat you have had your eye on for some time now, make sure that you look over it to make sure it is not inoperable and flawed. 

Boat insurance can help financially protect your boat from any covered incidents, but you must first check to see that there are no impending disasters. Here is your boat inspection checklist.

  1. A quick inspection.
    Are there any unusual stress patterns that you see on the stem, chines, and strakes? These are the portions of your boat that will take the majority of the impacts.
  2. Remove outboard cowling.
    Look for any signs of leakage. If you look past the head gasket and see a dry white residue, it should raise red flags.
  3. Inspect the wiring.
    Wiring that has shrink-sealed butt connectors are a good sign. Bare wires and wires connected using electrical tape is disastrous and may lead to future issues.
  4. Open the hatches.
    When you open the hatches and inspect inside, there are there two things you don’t want your senses to pick up: the smell of ethanol (gas), or the sight of standing water.
  5. Check all fluids.
    The fluids determine how efficient your boat could be. If the fluids are leaking or corroding the engine, you should consider another boat.
  6. Feel the upholstery. 
    The upholstery should be as dry as bone. If you inspect the upholstery and find that it is damp and moist, it is most likely teeming with mold and all sorts of nasty algal growth.

When it comes to the longevity of your boat, a proper inspection can find discrepancies. To protect it from the risks of the open sea, a boat insurance policy can give you the peace of mind that you deserve. Contact the experts at Stromsoe Insurance Agency for all of your commercial insurance coverage needs.

Worry-Free Summers With The Right Insurance

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Eliminating Liability Risks This Summer

Summer is finally here, which means many individuals and families are getting ready to take out their summer toys. As fun as trampolines, boats, and swimming pools may be, there are associated risks that you will want to have covered under the proper insurance policies. Before heading out to enjoy summer to the fullest, be sure to confirm adequate coverage.

Summer Insurance For Summer Toys

  • Trampolines – While you may think that your backyard will be perfect once you add a trampoline to the mix, you must consider the liability risks associated with this attractive nuisance. In fact, your homeowners insurance may not even provide you with coverage for your trampoline, so be sure to confirm your coverage before purchasing a trampoline.
  • Swimming Pools – Before installing a swimming pool in your backyard, be sure to discuss this addition with your homeowners insurance agent. Since many insurers exclude coverage for pools, this is extremely important. There are so many liability risks associated with pool ownership that must be accounted for.
  • Boats – If you will finally be taking your boat out of storage and voyaging various waters, make sure to update your boat insurance coverage before heading out. Also, be sure to let your insurer know which waters you plan to venture in because you may need additional coverage for different navigational waters.

Contact Stromsoe Insurance Agency for all of your California insurance needs. Whether you are looking to insure your trampoline, swimming pool, or any other summer toy, we will be your one stop shop for everything insurance related! Allow us to provide you with summer insurance in California that allows you to enjoy your fun in the sun without a worry in the world.

Making For A Worry-Free Summer On The Open Waters

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Insuring Your Boat & Watercraft

The time has come to load up the trailer and get your boat back out on the open waters. As you prepare your boat and other mini watercrafts for the best time of year, it is important that you make sure you are properly covered. Without the right boat insurance and watercraft insurance policies, it is nearly impossible to enjoy the open waters without worrying about inadequate coverage. Gathered is all the must-know information regarding boat insurance so that you can be an informed vessel owner:

  • While you may have been misinformed that your homeowners insurance will cover your boat, it is important to note that you only receive a very limited amount of coverage and the size of your boat will determine whether or not you receive any.
  • Many new boaters assume that they do not need boat insurance if their boat is not valued at much, but this is far from the truth. Boat insurance offers much more than just coverage for your boat, as you need coverage against the many liability risks associated with the open waters.
  • Hazards that are covered by most standard boat insurance policies include fire, collision, theft, vandalism, lightning, and some incidents that happen on land.
  • Boat insurance premiums are dependent on a wide range of factors, including whether or not you will be going with a standard policy or a customized policy. There other factors of course, including extra coverage, increased coverage limits, the size of your boat, the value of your boat, and of course, which waters you will be navigating.

Contact Stromsoe Insurance Agency for all of your California boat insurance and watercraft insurance needs. To ensure that you feel confident about your boat’s security, we will custom tailor a policy that meets your exclusive coverage needs.

Common Insurance Questions Answered

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Insurance is one of the most important security tools an individual or business can have, but it is also one of the most commonly misunderstood topics. Whether you have questions regarding your auto insurance, homeowners insurance, or business insurance, we hope this informational sheet of common insurance questions will clear up any misunderstandings:

  • My auto insurance agent just asked if I wanted full glass coverage, is it worth it? This extra protection measure will provide you with coverage when the glass windows of your car experience physical damage. This includes when a pebble hits your window and causes it to crack. This extra insurance will likely exclude coverage for mirrors.
  • My boat is covered under my homeowners insurance, right? Depending on the size of your boat, you may receive limited coverage for your boat under your homeowners’ insurance policy. However, in order to be 100% confident in your boat’s security, it is important that you seek professional advice based on your particular scenario before heading out on the water. You may need a separate boat insurance policy for optimal protection.
  • Umbrella insurance policies are unnecessary, right? Unfortunately, since lawsuits are more common now than ever, umbrella insurance policies can benefit nearly every individual and every business. Whether your dog decides to protect you by biting an aggressive neighbor or your son’s friend slips and falls on your property, your umbrella insurance policy will provide you with optimal protection.
  • What is replacement cost verses actual cash value? These are two unique reimbursement methods that will determine how you are compensated after a covered peril. Replacement cost is typically more expensive because it provides you with the appraised value of the item. In contrast, actual cash value provides you with an amount after the depreciation of the items are calculated.

Contact Stromsoe Insurance Agency in Murrieta for all of your California insurance needs. If you have any remaining questions, feel free to give us a call! We are available around the clock to answer any questions you may have.

Summer Lake Outings Are Not Complete Without Boat Insurance Protection

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As boating season approaches rapidly, do you find yourself feeling that familiar tug to get your boat in the water? Chances are, you would never think of driving your car without car insurance, or buying a house without protecting it with homeowner’s insurance. But, what about your boat? Boat insurance is just as important, because it can protect you against a wide range of hazards. Even when you follow all of the necessary boating safety rules and regulations, one single accident can lead to costly damages and possible injuries.

Watercraft liability is designed to cover injuries and damages up to your policy’s coverage limits for accidents in your boat. If you need legal defense, this can also cover some of those costs. Your insurance policy should also provide coverage for medical payments to help with medical expenses for you or other occupants of your boat if an injury should occur. Most policies also offer coverage for the boat itself and all typical boating equipment such as anchors, oars and safety gear. Before that first day out on the water, call Stromsoe Insurance Agency to evaluate your insurance options.

Insure Your Boat In And Out Of The Water

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Millions of Americans take to the water each year during boating season, traveling the coastlines, rivers, lakes and canals. The watercraft range from simple rowboats to jet skis to small motorboats to luxury yachts. Boat owners spend significant amounts of money buying and maintaining their boats. The need for insurance protection when the boat is on the water is obvious, but many boat owners question the need for it during the off-season. However, insurance is just as important when the boat is in storage as when the owner is using it.

A typical Boat insurance policy provides a package of coverages, including:

  • Damage to the boat, motor, and trailer
  • Damage to portable property used in the maintenance and operation of the boat, including things like anchors, life jackets, oars, tools, skis and surfboards, lights, and fire extinguishers
  • Damage to other types of property, including sports equipment, clothing, and other personal effects
  • Damage to equipment on shore, such as boat covers
  • The cost of recovering a sunk or stranded boat
  • The cost of emergency service and towing
  • Damage to non-owned or substitute boats
  • Loss of fishing tackle
  • Liability coverage for injuries or damages for which the boat owner is legally responsible
  • Coverage for injuries the boat owner or others on the boat suffer in an accident with an uninsured watercraft

A boat owner will need these coverages if their boat gets into a collision with another boat, or if thieves steal scuba gear from it, or if fire damages the motor. However, losses are still possible while the boat is out of the water. Progressive Insurance reports that nearly two out of every 10 boat claims it receives from northern states occur between Labor Day and Memorial Day, when most owners are not using their boats much.

Some examples of losses that could occur:

  • The building which houses the boat during the winter burns to the ground.
  • Vandals damage the boat in the middle of the night while it’s in the owner’s driveway.
  • A neighbor’s child, playing in the owner’s yard, runs into the boat stored there and injures his head.
  • Someone steals the boat and its trailer from the yard at a repair shop.
  • While the boat is stored in the yard, heavy snow melt causes a flash flood that damages the boat’s interior, including the mechanical system and the radio.

One of our Protection Coaches® can provide advice on the types and amounts of coverage a boat owner needs. We can also recommend insurance companies that have expertise in boating, good claims-paying practices, and reasonable prices. Insuring a boat all year round can be expensive, but compared to the cost of a large uninsured loss, it may well be worth the cost.

Here are 4 Easy Ways to Reach Us:

  1. Call 951-600-5751 or 877-994-6787
  2. Fax 951-677-6265
  3. Email – [email protected]
  4. Visit agency.thebutlerweb.com

Stay Afloat With Proper Boater’s Insurance

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There are many hidden costs associated with owning a boat: Dock fees, general maintenance, and winter storage, just to name a few. One expense that boat owners should never skimp on is purchasing the best available insurance policy for their watercraft.

Because buying a boat is a huge investment, owners should protect their boat with comprehensive insurance coverage. Plans are often based on the type and size of the boat. Many Homeowners and Renters insurance policies provide limited coverage for property damage if the boat’s engine is less than 25 mph horsepower or if it is a small sailboat, but without additional insurance, no liability coverage is included.

Owners of larger, more powerful boats and yachts will need to purchase a separate insurance policy for their boat. The insurance company will take into account the size and type of boat, its value, and where the boat sails when drawing up the conditions and cost of the policy.

Separate boat and watercraft insurance policies provide much more coverage to the owner. These policies generally include loss and damage coverage to the boat’s hull, machinery, furnishings, fittings, and any permanently attached equipment, like a navigation system. Liability coverage is extended to:

  • Bodily injury to other persons
  • Damage to other’s property
  • Legal expenses associated with non-consensual operation of the boat
  • Medical costs for injuries to the owner and passengers
  • Boat theft

Policyholders can choose the liability limits of their plan, ranging anywhere from $15,000 up to $300,000. The deductible cost for property damage is $250, and it ranges between $500 and $1,000 for theft and medical expenses. Of course, policies can be individualized based on the boat owner’s needs. Other endorsements and coverages can be added to the policy to cover the boat’s trailer, fishing gear kept aboard the boat, and any other accessories. Also, make sure to ask whether or not the policy covers the boat while it is being towed.

Just as Auto insurance providers offer discounts to their policyholders, discounts for watercraft policies apply in certain cases. For example, insurance companies favor diesel-powered engines over gasoline ones because diesel fuel is more stable, making the engine safer to operate.

Other discounts are related to safety equipment kept on the boat. Having items like fire extinguishers approved by the U.S. Coast Guard and ship-to-shore radio equipment could reduce the amount of the premium. Also, completing a boater’s safety course offered by the Coast Guard Auxiliary, the American Red Cross, or the U.S. Power Squadrons can gain some favor with the insurance company.

Maintaining a clean boating record is just as important as being accident-free on the roadways, when it comes to lowering insurance rates. Premiums are usually discounted for every two years the boater goes without an accident or filing a claim. Bundling your Watercraft insurance with Homeowners and vehicle policies is another good way to save money on coverage costs.

A solid insurance policy gives boaters the peace of mind needed to set sail and enjoy the open waters. Nothing is more relaxing than knowing your investment is covered.

If you have any questions about your boat insurance, here are 4 Easy Ways to Reach Us:

  1. Call 951-600-5751 or 877-99-INSURE
  2. Fax 951-677-6265
  3. Email – [email protected]
  4. Visit agency.thebutlerweb.com