more newbie confusion - insurance

[newboaterdvm]

So I think we have settled on a Maxum 1900SR 2003 (if our offer on it doesnt get turned down).

I have started looking at insurance and I am a little confused... I have gotten that we should get Agreed upon value. After that, Im at lost.
How much liability should we get? Is 300000 enough?
What else is important to get for a boat this size? Is liability only enough? I assume we dont need personal property, etc. I think we mostly want something that will cover if the boat catchs on fire or something like that and liability if something happens to someone....

It will be kept in a boatel so out of the water when not in use.

 

[bhammer]

Re: more newbie confusion - insurance

The cost difference for me between liability and full was only a couple dollars a month. I (think) got 100,000K property and 50,000 medical, the max they allow but I do have an umbrella policy that would cover me if something worse goes awry. Check to see if your insurance co offers replacement cost versus replacement value. You also need to get coverage on the trailer for the cost of replacing it.

As said, if there is a lien against it, they will most likely require full coverage insurance to protect their asset if a loss was your cause.