- No comments
Do you think boat insurance is unnecessary? Oh sure, it is all covered either by your vehicle or homeowners insurance, right? It’s just a plaything, not a vehicle, right? If you are a boat owner, or are in the market for a boat, and believe those two statements, you could be in for an unpleasant surprise.
Many people think their boat is covered by homeowners insurance. In very limited cases it is true; however it is not for the vast majority of boat owners. Much like you need certain insurance for your car, you should also have at least liability coverage for your boat. Because even though you think of yourself as a master boater, accident can happen.
Basic boat insurance includes: Liability, which covers costs related to bodily injury and property damage suffered by others in a boating accident you cause; Boat coverage, which is a lot like comp and collision for your car in that it covers repairs to your boat after it is damaged in a collision or damaged in several types of non-collision-related incidents like a fire; and Medical coverage which can help with costs related to injuries you may suffer in a boat crash.
Bear in mind that not all companies offer the same types of coverages, and can limit them based on factors such as the size, age, and type of boat you have, as well as where you put it on the water and where you usually travel. Because most states do not require boat insurance, you may want to purchase Uninsured coverage to help if your boat is damaged by an uninsured boater.
Check with your insurance professional to see what kind of special protection you need for your boat, and talk over which coverages are right for you. You worked hard to buy a boat and deserve to enjoy it. Don’t let any insurance oversight stop you from doing just that.