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Very few people in the world possess a houseboat. A houseboat is really a luxurious boat and it cost a lot to purchase. Though most of the houseboat owner use their houseboat in commercial basis, someone use it as a past time residence. Houseboat are maximum found at riverside and are used as rental accommodation for tourists. Since, most of the house boats used by the owners in commercial basis and purchased through bank finance or are financed by some other financial institutions, it is mandatory for the owners to insure the house boat as per the rules of financial institution. However, for the rich people who use to purchase a houseboat of their own, they should also have a boat insurance policy to protect their boat from any unwanted eventualities. Every houseboat owner should have a preliminary knowledge of houseboat insurance. Else, they could have unnecessarily purchase a pricey insurance, which may prove useless at the time of settling a claim. The best way to gather knowledge of the different aspect of houseboat insurance is to study the features of houseboat insurance online. Almost all of the insurance company dealing with houseboat insurance has opened their pages in the website. It is better to spend some time in studying the different types of policies of the insurance companies to gather a sound knowledge of what to insure and to what extent. Moreover, there are some independent service providers who use to provide comparison quotes of different insurance companies from which the boat owner can choose the best policy at the most affordable price. as the premium of the same type of policy is not the same for all the boat insurance companies, by going in details of all the clauses laid down in the policies of the different companies, a boat owner can choose the best policy at the most affordable price. The basic things on which the premium of a houseboat depends is the size of the boat, its age, the horsepower of the engine that is fitted in the boat and the place where it is used. It should be made clear to all houseboat owners that marine insurance policy is based on two things. The first one is agreed values and the other is the actual cash value. For agreed value, a owner will receive the claim for a total loss, the amount mentioned in the policy while, for cash value policy the amount for settling a claim will depend in the market value of the boat at the time of settling claim. Comprehensive coverage policy, though the costliest policy, is the appropriate one for houseboat insurance because this policy covers almost everything that an owner desire. It provide protection to the insured vessel, engine and machinery, personal injury, removal of wreck and salvage charges, towing costs and legal protection coverage. Apart from this, there are many other clauses like physical damage clause, liability coverage, haul and machinery clause, uninsured watercraft coverage, towing and assistance coverage and so on. The requirements of insuring different boat are unique. Therefore, it is better to keep in mind that in spite of looking for the cheapest option of houseboat insurance it is crucial to weigh up the pros and cons top the various options open to ensure that the correct coverage is put in place. To learn more about boat insurance policies kindly logon to www.boatinsruance.org and read over a hundred of articles on boat insurances.
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