Getting out on the water in your watercraft can be a wonderful escape but having fun on the water can increase liability risks. Let’s make sure your “financial boat” doesn't sink should you encounter rough waters
Accidents happen – even on the water. A boat insurance policy covers your boat and its motor against potential loss. In addition, the policy can extend protection to equipment attached to your boat such as anchors, oars, canopies, life preservers, and fuel tanks. Coverage for fishing equipment and personal property is available.
Liability insurance can help pay for medical expenses or legal costs if you’re at fault in a boating accident. Optional coverages include bodily injury, property damage, medical payments and guest passenger liability.
The fact is, homeowners policies usually place numerous restrictions on boat owners, depending on the size and horsepower of your watercraft.
In other words, if you don't carry a boat insurance policy, you may be underinsured.
Typical coverages include:
Coverage to protect you financially if you’re legally responsible for bodily injury or property damage that results from accidents while operating your boat.
Coverage for damage to the boat, on water or land, following an accident or for theft of the boat.
Coverage for damage or theft to the boat trailer.
Coverage for medical expenses for you or your passengers following an accident on the boat.
Liability coverage that provides protection in the event that someone else is piloting the boat and causes an accident.
There are even more ways to save on boat insurance, but the only way to truly determine the best policy is to call and discuss the protection you will need.
Not all insurance products are similar in price and function, that’s why it’s important to customize a portfolio to fit your specific needs.