When you purchase comprehensive and collision coverage for your boat -- which covers both damage in a collision accident as well as damage by an event other than collision such as vandalism, theft or fire -- you have a choice in how your claim is resolved if your boat is damaged beyond repair, or a total loss.
With Total Loss Replacement coverage -- also known as Purchase Price coverage, we will replace your boat with a new boat that is the same make, class, type and size with comparable equipment, or as close as possible. If your boat is more than 5 model years old at the time of the loss or you do not want to replace your boat, we will pay you the original purchase price of your boat.
This type of coverage is only available initially for new boats that are not more than one model year old. It is not available for personal watercraft (PWC) and a sales receipt is required to determine purchase price.
Contact KADAIR Insurance today to build a customized boat insurance policy with the type of replacement option you want in the event of a total loss. We will do your comparison shopping for you among top-rated boat insurance companies to find you the best policy that fits your needs and your budget, with all of the extras and features you expect.