Carolyn is considering the purchase of a large (60-foot)boat.She called her insurance agent to see if she needs a separate policy for the boat.The agent said that a special category of insurance policies was designed to insure large watercraft.These policies are called

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Yacht insurance policies are specifically designed to insure large watercraft such as the 60-foot boat Carolyn is considering purchasing. Floater policies typically cover personal property that can be moved from location to location, not large watercraft. Flood insurance policies cover damage caused by flooding and not typically related to owning a boat. Dwelling Property 3 (special form) policies are designed to cover homes and their contents, not large watercraft.

Carolyn Is Considering the Purchase of a Large (60-Foot)boat