No matter what kind of vessel you own, you should be able to enjoy your time on the water without worry. Watercraft insurance offers protection so you can focus on the open water and protect your property.
Getting out on the water should be carefree, but owning and running a boat brings several financial risks. Like motor vehicles, boats and other watercraft are prone to accidents, theft, breakdowns, property damage, and liability issues. Watercraft insurance means you can stop worrying about those risks and get back to relaxing on your boat.
Watercraft insurance (otherwise known as boat insurance) policies usually have two standard elements, with two optional extras that are worth considering. One standard feature is insurance coverage for physical damage to the boat, whether that be from a collision, fire, severe weather, theft, or vandalism. The other standard feature in a boat insurance policy is liability, meaning you're covered for damage you cause to other boats or people, along with the associated legal costs. Look for insurance policies that cover the costs of cleaning up any oil spills if your boat is severely damaged, as well.
It's the last thing you'd want as a boat owner, but breakdowns can happen. With towing and assistance coverage, expenses for assistance like towing or refueling may be covered.
If you have uninsured/underinsured boater coverage, your insurance may pay for physical and bodily injury damages, as well as medical expenses if the boater that caused the accident does not have enough or any insurance.
If you store personal belongings on your boat, you need personal property and unattached equipment coverage, which may pay for replacement costs should they be stolen.
One optional element of watercraft insurance is coverage for theft of or damage to your personal possessions kept or used on your boat. This is well worth considering when you think about the costs of sports or fishing equipment and expensive gadgets. You can also get optional boat towing and assistance coverage that protects you against the costs that come up if your boat breaks down while out on the water.
Spending time on the water is fun, and having watercraft insurance may help bring you peace of mind. Contact us to go over the coverage options for your specific boat or watercraft.