Boat Insurance
A boat is an excellent way to enjoy living near the water, but it can be expensive to maintain. Boating insurance is an additional policy that you can take out to protect not just your boat, but those aboard if something should happen. A boat or watercraft is a significant investment, so protecting it and yourself are essential.
Why Do I Need Boat Insurance?
Boat owners should consider the addition of boat insurance to protect not just their vessel but themselves and any passengers. If you don’t currently have it, you could be leaving yourself - and those who travel with you - vulnerable if there is a boating accident or your boat sustains significant damage. Although some things will be covered through your homeowners insurance, reimbursement will be limited according to:
- Limitations on horsepower
- Size restrictions
- Limits on damage costs
What Does Boat Insurance Cover?
Things that will not be covered by your homeowners insurance related to your boat but are covered by boat insurance are:
- Wreckage removal
- New boat replacement
- Fuel spill liability
- Medical coverage for bodily injury
- Damage to your boat’s sails, hull, mechanical, and equipment
- Liability for passengers on other boats if you are involved in a collision
What Kinds of Watercraft are Covered by Boat Insurance?
When it comes to insurance, not all crafts are the same. Your boat will be evaluated to determine what your coverage needs are according to the type of watercraft it is.
The most common types of water vessels classifications are
- Personal watercraft (PWC) are those vessels that run by water jeep pump whereby the operator kneels, stands, or sits. Examples are Sea-Doos and --WaveRunners
- Pontoon Boats are one of the most popular types of watercraft in our area.
- They are boats that rely on buoyancy and have ample room for guests and passengers
- Bass and fishing boats are vessels designed for fishing. Although some are powered by outboard motors, others have trolling motors or power poles
- Sailboats are powered by sails alone or are partially propelled by motor
- Powerboats are used for watersports, cruising, and other water-related activities
