Boat Slip Selection

Posted on January 8, 2014 by jerry

Finding the perfect boat slip

If you’re an avid boating enthusiast and you’ve tired of the typically exhausting practice of hauling your boat to and from your favorite body of water like intercoastal waterways, waiting in lines at launch ramps and winching it in and out every time you boat, it may be time to consider renting a boat slip.

Marina boat slips vary from one another, but all of them offer many advantages to boaters who spend a lot of time on the water. Some of their many benefits include:

Convenience. It is much easier and more time-effective to dock your boat than to put it in and pull it out every time you go boating.
Security. Marinas are generally very safe, protected by locked gates. Some marinas also offer 24/7 security via cameras or guards that patrol the marina grounds.
It’s ready when you are. When your boat is docked, it’s always waiting for you when you’re ready to go.
Onsite amenities. Most marinas have shops containing boating supplies and snacks, restrooms, shower facilities, restaurants and bars. They also tend to be surrounded by pleasant outdoor areas.
Community. By having a slip in a marina, you reap the benefits of being a member of a social community.

While the advantages are numerous, boat slips are also notorious for being costly. Here are a few pointers for finding the best deal possible on a boat slip rental:

Shop, shop, shop. There is no substitute for good, old fashioned bargain hunting, so invest time in shopping. Go talk to personnel at a variety of marinas in your area to start price comparing.
Use the Internet. Websites like pickaslip.com allow you to do detailed searches for slips on a wide variety of popular bodies of water in the United States.
Advertise. Put up a flyer on community boards at marinas, coffee shops, and anywhere else you have the opportunity; include what you’re seeking and how much you want to pay. You can also advertise in your local newspaper classifieds and on popular buy/sell websites like craigslist.org.
Talk it up. Tell everyone you know what you’re looking for so they can help you spread the word.

If you think it’s time you start enjoying more time on the water and less hauling a boat to and from the water, we at Atlass Insurance Group wish you good luck in your search for the perfect slip!

Charter Insurance – Charter Boat Insurance

Posted on June 12, 2012 by jerry

Charter boats have special insurance requirements. Atlass Insurance Group is a specialist in marine insurance and can help you find the most appropriate insurance for your charter boat. Atlass Insurance Group has charter boat insurance coverage for the full-time charter business including six pack charters, bare boat charters, fishing guides, and a special program for the occasional charter.

Atlass Insurance Group can provide coverage that fits your charter boat needs. We have charter boat insurance coverage for fishing guides, charter fishing, sight seeing, day cruises or extended cruises including vessel types from Bass Boats to Mega Yachts. Our team of marine insurance specialists can be the perfect business partner for your charter boat business.

Let us help develop an insurance policy for your charter business that is tailored to the specific needs of your chartering service. Liability, uninsured boaters, captain and crew liability, and agreed amount value policies are just a few examples of points to consider. Atlass Insurance Group is committed to detail and providing appropriate and adequate coverage for your vessel and its intended use.

How are you paid in the event of a loss on your vessel?

Posted on June 12, 2012 by jerry

How are you paid in the event of a loss?

When discussing how you are paid, you need to distinguish between a total loss and a partial loss. Most of us are concerned how the boat insurance policy responds in the event of a total loss. The likelihood of a total loss is much less than a partial loss; therefore it is important to understand how the policy pays for both.

There are three different types of boat insurance policies — agreed value, actual cash value and replacement cost. One of these three could be paid in the event of a total loss. In the event of a partial loss, you will need to know if the policy is paying replacement cost or depreciated value.

Agreed Value

Agreed Value is easy. You and the insurance company agree on the value of the boat before the loss. Using our example, you would be paid $40,000. If the current value of the boat at the time of the loss is $20,000 or $55,000, you would be paid $40,000, the Agreed Value of the boat.

Actual Cash Value

Actual Cash Value is the value of the boat at the time of the loss. A boat insurance company will pay the insured value or the Actual Cash Value of the boat at the time of the loss, whichever is lower. In our example, if the Actual Cash Value of the boat is $25,000, this is the most you will be paid. If the Actual Cash Value is $55,000, then you would be paid the insured value of $40,000. The Actual Cash Value is determined by the insurance company from sources such as a used boat price guide and other boats listed for sale.

Replacement Cost

The newest option is Replacement Cost. A Replacement Cost policy agrees to replace your boat with a new boat. You are required to purchase this coverage when the vessel is new and the coverage is only available until the vessel is two or three years old. Our $40,000 three year old boat has a Replacement Cost new today of $45,000. The Replacement Cost policy would pay $45,000 for a new boat. Some policies may specifically state they will pay a percentage over the amount the vessel is insured for, 20% for example. Once the boat reaches the age where replacement cost is no longer available, the policy form will be changed to Agreed Value or Actual Cash Value.