One of the best ways to cover your boat is by getting boat insurance coverage. Boat insurance covers the expenses of the repairs of a boat in times of damage. But does boat insurance cover a blown engine? This is a common question policyholders ask.
Boat insurance does not cover everything concerning your boat. There are some cases where your bot insurance will not cover occurrences on your boat. As long as a blown engine is not a result of negligence, boat insurance can cover a blown engine.
Most boat insurance policies cover the damage on an engine if it is a result of a collision or heavy weather. If you are a policyholder with a boat insurance policy that covers your boat value, your blown engine will be covered because your policy covers every part of your boat, including your boat engine.
Does Boat Insurance Cover a Blown Engine?
Depending on your boat insurance policy, boat insurance can cover a blown engine. If your policy is specified on a specific aspect of your boat, chances are that your blown engine will not be covered. However, if you get coverage that includes your engine, the expenses for your blown engine will be covered under your boat insurance policy coverage. Below are some of the boat insurance coverage options for blown engines.
Manufacturer’s Warranty:
If your boat is still under the coverage of the manufacturer’s warranty, this coverage covers the repairs of your blown engine alongside any other mechanical system. It covers all the payments required for repairs and replacements of damaged parts.
Depreciated Value:
In cases where your boat is damaged either by a blown engine or any other mechanical issue, this insurance policy covers the actual cost of the boat. This includes the condition, age, time of loss, and other factors of the boat.
Mechanical Breakdown:
This type of coverage covers any mechanical breakdown of a boat. It offers coverage over the damage to a boat engine or other mechanical system of a boat. The cost of repairs and replacements of damaged parts is covered under this policy.
Endorsement:
Endorsement coverage is a type that allows you to add other coverage options to your insurance policy. It gives you an opportunity for additional premiums to your policy.
Emergency Hauling and Assistance:
For instance, if your boat engine gets damaged while on the water, you will need to be hauled back to shore by a repair team. This coverage handles the payments for the boat’s emergency hauling back to shore for repairs.
It is compulsory to review your boat insurance policy to know if your policy covers a blown engine or not. This also gives you insights into what your policy covers and its limits.
How Does Boat Insurance Cover a Blown Engine?
Boat insurance policies cover every mechanical system of a boat, including the engine. If your blown engine is a result of negligence, your insurer may decide not to cover your blown engine. Depending on what your insurance policy covers, your blown engine can be covered. All you need to do is file a claim under your insurance coverage, and your insurer will cover your blown engine.
As your boat engine gets older, it begins to fail, and this may also cause it to be damaged. Using actual cash value coverage, you will get a lesser amount than the actual amount you paid for your engine. This is due to the depreciation of your engine.
With an agreed value, your boat insurance company will cover the expenses for a new engine without keeping a record for depreciation if it’s a few years old. However, the cut-off for depreciation depends on the boat insurance company. This ranges mostly between 3 to 7 years. Unfortunately, most insurers have limits to the replacement of your boat engine.
When will Boat Insurance not cover a Blown Engine?
This insurance covers expenses for incidents that are not avoidable or preventable. You will need to first determine if your policy covers a blown engine. If your policy does cover blown engines, your damaged engine will be covered under your policy.
However, if your engine gets damaged due to wear and tear, improper maintenance, defective machinery, or marine engine damage, your boat insurance policy will not cover your blown engine. It is important to maintain your engine regularly.
