Want to know one of the smartest questions you can ask before buying a Marine Service Contract?
It's not:
"What's covered?"
It's:
"What's NOT covered?"
That question can save you a lot of frustration later.
Marine Service Contracts are designed to provide protection against specifically covered mechanical breakdowns. They aren't designed to pay for everything that happens to a boat.
While every contract is different, certain categories commonly require particular attention.
Start with routine maintenance.
Oil changes, filters, scheduled services, normal adjustments and other maintenance items are generally the owner's responsibility unless specifically included.
Then there's normal wear and deterioration.
Boats live in a brutal environment. Upholstery ages. Finishes fade. Components corrode. Things wear out. A service contract shouldn't automatically be assumed to cover normal deterioration.
Accident or impact damage is another important distinction.
Hit a dock, run aground or strike something underwater and you may be dealing with your boat insurance rather than your service contract.
Then there's neglect.
If the manufacturer says something needs to be serviced and you ignore it, don't be surprised if resulting damage creates a coverage problem.
That's why I tell boat owners:
Keep your maintenance records.
Receipts aren't exciting until somebody asks you to prove that the engine was properly maintained.
Pre-existing conditions can also be excluded. You generally can't wait until the engine starts knocking and then buy protection expecting somebody else to pay for the repair.
The most important rule is simple:
Read your contract.
Don't rely on assumptions, dock talk, or what your buddy says his contract covered.
Understand your covered components, exclusions, deductible, maintenance obligations, limits and claims procedures.
Good service-contract companies want customers to understand what they purchased.
Because nobody likes surprises.
Well, maybe when the surprise is a 10-pound bass.
Repair surprises? Those we can do without.
— Terry Torline