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boatingonthehudson.com
Disclaimer: This article is for informational purposes only.
Contact your own insurance company or agent for the
specifics on your own policy.
Cathy J Karas, President, Certified Insurance Counselor,
Karas Insurance Agencies Inc., 321 So Riverside Ave,
Croton-on-Hudson, NY 10520 - phone 914-271-5188,
.
• Your credit score (those with better credit
typically experience few claims)
• Your driving record and claims history (even
towing and glass claims can “count”)
HOME
Where you live - distance to hydrants,
fire department and any major body of water
• Year built, style of construction, square footage
and features (which determines the limit of
insurance for the structure)
• When your roof was last replaced, when heating,
plumbing and electrical systems last updated
• Your credit score and length of time owned
•Type of heat (underground oil tank can be a
negative factor), if you have an unfenced pool, a
hazardous dog breed or trampoline
• Claims history
BOAT
Year, make, model, horsepower, miles per
hour and value for the hull and machinery
• Where you use the boat, lay up period out of water
• Years of your experience both as operator and owner
• Your driving record
• If used for waterskiing, tubing, wakeboarding
• Credit score and if you’re a homeowner or renter
• Claims History
Some of these factors can be changed or improved
on. For your auto insurance, be sure you are getting
all the discounts available to you. Some to consider are
alarm systems, daytime running lights, recovery devices
in your vehicle, and for yourself and your drivers having
taken the 6 hours defensive driving course can provide
an approximate 10% discount for 3 years. Many
companies also offer other discounts such as good
student, distant student, driver education, low mileage
and sometimes you can install a device that monitors
your driving patterns. For your homeowners insurance,
having the insurance company aware your house is
updated regarding roof, plumbing, heat and electrical
systems can mean you might qualify for a different
program with the same company or maybe another
company may offer a better rate dependent on what
and
when you did any updating. Being an AARP member
can mean a discounted rate, as you are considered one
of the most sought after segment of the population. Most
often AARP members are safe drivers, do not have young
drivers on the policy and own higher valued homes and
cars that are well taken care of. Over the years the limit
for the structure may have overinflated and you may be
able to reduce this, which would reduce your premium.
Your broker or company should be able to help you to see
if this is a possibility for you. Increasing your deductible,
having an alarm system, removing theft insurance for
personal property when off your residence premises also
can be possibilities for savings. For your boat insurance, be
sure you have the broadest coverage available that would
include “agreed value” or “replacement cost” coverage for
the hull and machinery, rather than “actual cash value”,
that takes in to consideration age of what is damaged with
depreciation applied to a claim. Check to see what your hull
and machinery limit is if you have this coverage. There is a
possibility it was never changed from when you started the
policy and now with age the boat is worth less and this limit
can be reduced. If your policy has a “lay up” period, be sure
the in water time are the months you use your boat and it is
in the water, and not more or less time. Taking the power
squadron course or having your captain’s license can often
discount the rate.
The best way of making sure you are getting the best
possible rates and are taking advantage of all the discounts
available to you are to contact and independent insurance
agent who represents many companies. At Karas Insurance
Agencies Inc. we have been serving the Hudson Valley
area for 45 years and are a 3rd generation family owned
business. All of us in the office are licensed insurance
brokers with many years of experience and can review your
current policies and offer a choice of options to change or
replace your policy or policies to other companies. Often
having all policies with the same company provides
substantial cross policy discounts, but in some cases using
different companies makes a better plan for others, based
on the rating factors unique to each person or family as
described above. We are available for a free, no obligation
review at any time. We can be reached by phone at 914-
271-9390 or you can email me directly at cathykaras@
karasinsurance.com for questions and or quotes for existing
policies or quotes for new purchases.