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When getting insurance for your boat in Centennial, CO, there are some things to keep in mind. It is a smart idea to have a checklist in order to make sure you are getting the coverage you need. An agent at Compass Insurance can help you find the right insurance for your situation.

What Does Your Insurance Cover?

Comprehensive coverage will normally cover theft, accidental loss, or damage.

Do You Have Replacement Costs Covered?

If you want to replace your boat after an accident, you will need to have coverage that is for close to the current market value of your boat. You can adjust to account for depreciation at each renewal.

Lay Up Options

If you are not using your boat during a specific period of time, then you may be able to use this type of insurance so you can get a discount on your policy. You must keep in mind that you won’t be covered for any damage to your boat during this period.

Geographic Limits

Your insurance policy will have certain physical and water limits. If you want to take your boat around the country, you need to have a policy that will cover anywhere.

Trailer Coverage

If you have a boat, you likely have a trailer that goes with it. It’s a good idea to have coverage for your trailer, along with your boat insurance policy.

Accessory Equipment

This coverage should include your navigation equipment, lighting, and stereo system. A good policy will have coverage up to a certain amount and then have the options to purchase additional coverage.

No Mileage Restrictions

You don’t want coverage that restricts your mileage from where your boat is garaged or stored. Many policies should cover at least 75 miles and give you the option to increase if you need to.

Contact Compass Insurance serving Centennial, CO to find the right boat insurance.

Every business owner understands the fact that running a business comes with numerous inherent risks that you can’t avoid. A natural disaster could destroy your business property, or your customer could file a lawsuit against your business leading to significant financial losses that could even bring down the entire company.

Therefore, commercial insurance from Compass Insurance is necessary to protect your business and personal assets against such worst-case scenarios that could occur. Here are some of the top reasons why your business requires commercial insurance.

It’s the Law

The law in most states across the US requires all businesses to have specific types of insurance depending on the size of the business. For instance, your business is expected to have a liability insurance policy to cover the medical bills of your clients who may get hurt at your business premises.

Failure to carry the legally required business coverage could result in hefty fines, exclusion from the public contracts, and a possible jail term. So, before you think of any other benefit, think about the legal implications if you fail to purchase a commercial insurance policy for your business in Centennial, CO.

To Protect Your Business Property and Assets

The other reason why you should purchase a commercial insurance policy from Compass Insurance is that it protects your business property from disasters and theft. Remember the fact that some of your business equipment is expensive to acquire and without the necessary coverage; you could find yourself in a mess when the worst happens.

The property insurance coverage is also designed to protect your business premises and everything inside the building. This coverage will protect your enterprise from losses associated with some of the expensive business equipment when the damage is caused by an external covered event.

The Other Party May Not Be Insured

What is the first thing that comes to your mind when the negligence of another person damages your business property? You hope that the responsible party has sufficient insurance to cover the damage. But, what will happen if this isn’t the case? You will need your commercial insurance coverage to help you cover the loss.

Are you a business owner in Centennial, CO? Contact us today for a client-friendly commercial insurance policy.