Boat Insurance Kailua, HI

Motoring along: Boat insurance in Kailua, Hawaii

You probably have the boat prepped year-round. Your boating license is valid and you’ve planned outings with family and friends weeks in advance, but have you looked at your boat insurance? There are many coverage options available in Kailua, Hawaii and using a local, independent agent guarantees that you will have many coverage options, so you can pick a policy that suits your needs before heading out to the water.

The 411 on boat insurance in Hawaii:

  • Bundling: It may not be possible to bundle your boat insurance with an existing policy, like homeowner’s insurance, as there may be restrictions on the type of boat you own. In order to fit under a homeowner’s insurance policy, boats may need to be under a certain length and under a certain price point.  There is a down side to having your boat covered under a homeowner’s insurance policy: specialized coverages may be limited or not available.
  • Specialized Coverages: These types of coverages can include On-Water Towing, helpful when your boat runs out of gas or has a mechanical issue mid-outing. Fuel Spill and Wreckage Removal may help keep you covered in the event your boat leaks fuel or if there is an accident; otherwise you may be on the hook for clean-up expenses. You may also want to consider Uninsured Boater coverage. Just like Uninsured Motorist coverage for your car or truck, this may help with expenses if your boat is hit or damaged by another boater without proper boat insurance coverage. Specialized Coverages may also include Personal Effects coverage.
  • Travel: Planning to sail your boat through international waters?  Some insurance plans may cover waterways in the continental U.S., but may not cover international waters or may only cover a boat in international water within a certain mile radius from the U.S. coast. Check with your agent to see if your plan coverages international travel.
  • Replacement: We hope that you never have to replace your boat due to an accident. In order to avoid costly out-of-pocket expenses to replace your boat, make sure that you have the appropriate replacement coverage in place long before you hit the water. There are two options for replacement coverage: Total Loss Replacement and Agreed Value coverage. Total Loss Replacement is just that, a replacement of your boat. However this type of coverage may not be offered by all insurance carriers, more likely than not the carrier will provide Agreed Value coverage. This is the value of your boat, agreed upon by you and your agent before you sign the policy.

There are many options out there when looking for boat insurance in Kailua, Hawaii and your local independent agents at Jack Wolfe Insurance can help you navigate your options to find the best coverage for your needs. They can also assist with a personal watercraft policy for your other water-traveling toys. Whatever your insurance needs, talk to the experts at Jack Wolfe Insurance. Their years of insurance experience can save you a bundle!  You can also visit their insurance website 24/7 to learn more about the other valuable insurance products they offer.

flood insurance kailua, HI

Rainy day coverage: Flood Insurance

The definition of a flood can be tricky as most people associate a flood with a large body of water overflowing wreaking havoc throughout an area, but floods come in many different shapes and sizes. In terms of flood insurance, any water that comes into your home from an outside source (not a burst pipe, sewer back-up, etc.) may be considered a flood.

There are easy ways to find out if you are in a high-risk area for floods and what is covered under a flood insurance policy in Kailua, Hawaii.

The ins-and-outs of flood insurance in Hawaii:

  • What is a flood: As previously stated, in terms of insurance, a flood is typically water from an outside source coming into your home or business that is not a result of a burst pipe, sewer back-up or other excluded events.  Localized flooding in your home can occur when outside drains become clogged with leaves or debris, when a water main breaks or a storm surge comes ashore from a tropical storm or hurricane. High-risk areas include those living at or below sea-level, those living within the flood plain of a river or those who live in areas that get monsoon-like storm conditions. These areas may be high-risk, but flooding can occur in any neighborhood.
  • Flood Insurance: Purchasing flood insurance can be done through your local independent insurance agency, but it is all federally insured by FEMA. Based on historical trends and flood maps, high-risk areas are determined as those that “have a 1 in 4 chance of flooding during a 30-year mortgage,” according to Floodsmart.gov. A flood insurance premium is based on several factors, like flood risk area, age of the home, number of floors and the amount of coverage you decide upon. The typical policy in a lower-risk can be as low as $129 per year and will go up from there depending on the risk. It should be noted that after purchasing a flood insurance policy, there is a 30-day waiting period, so if you are considering purchasing flood insurance, the sooner the process is started the better.
  • What is covered: Flood damage to a home is costly. Depending on the area of the home taking on water, the costs can be hundreds of thousands of dollars. Carpets may need to be replaced or cleaned, dry wall replaced, appliances, furniture and the list goes on. If the flood is severe enough the home may need to be assessed for structural or electrical damage.

If you think you may need flood insurance, talk to your licensed insurance agent in Kailua, Hawaii. Jack Wolfe Insurance in Hawaii can guide you through purchasing a flood insurance policy and offers additional lines of insurance like home insurance and condo insurance. Their years of insurance experience can save you a bundle, and they live right in your area, so know first-hand what your insurance needs might be.  You can also visit their insurance website24/7 to learn more about the other insurance products they offer.