You wouldn’t leave the dock without a life preserver? Of course not, you would get a huge fine and someone could get hurt. So why would you set sail without making sure you have the right insurance coverage for your boat?
What Does Boat Insurance Cover?
It’s important to have the right coverage that will protect you, your passengers, and your boat or watercraft while you’re on the water. Our boat insurance can help protect:
Powerboats: These use engines to move and are typically for fishing or water sports.
Fishing boats: Also known as bass boats, these are smaller than powerboats.
Pontoon boats: These use floats to stay above water and are generally used for fishing or cruising.
Personal watercraft (PWC): These are smaller watercraft meant for one to three people, such as jet-skis.
Sailboats: These use sails to move through the water.
How Much Boat Insurance Coverage Do I Need?
Your coverage needs to depend on your boat’s features and how you use it. If you’re using a pontoon boat to cruise around a lake, you may not need as much coverage as a powerboat. We make it easy to customize your boat insurance policy to address your specific needs. Consider these coverages to help protect your boat or watercraft:
Medical payments– if you or your passengers get hurt in an accident, this coverage can help cover treatment costs.
Property damage liability -helps cover the costs if you damage other people’s property with your boat or watercraft.
Bodily injury liability -if you hurt someone else with your boat, this coverage helps cover their medical bills.
Uninsured/underinsured watercraft– if someone without insurance or not enough coverage hits your boat or watercraft, this coverage can help cover damages or injuries.
Personal effects coverage– helps cover your costs to repair or replace valuables if they get damaged or lost while you’re on the water.
Emergency assistance and towing -helps pay to have your boat or watercraft towed if it breaks down in the water.
After you have the essential coverages in your boat insurance, you may want to add more protection to your policy, such as:
- Fuel spill coverage
- Trailer or boat lift coverage
- Hull coverage
It’s always a good idea to have coverage because you can get into an accident at any time. Without it, you’re responsible for paying costs out of pocket. Claims related to boating accidents can be costly and can put your personal assets at risk.
One More Thing
If you’re lucky enough to have a boat, then I’d bet it’s safe to say that today is making you itch with excitement to get out on the water- be it the local lake or ocean. Boating is a way of life as they say, and when the temps warm-up and the Jimmy Buffet music starts playing, there’s no better place than on your boat, be it sailboat, powerboat, gigantic yacht, or tiny schooner.
Just make sure you are following all safety precautions and you have the right coverage’s protecting you if an accident were to occur. It can help cover you and your passengers if your fun day out on the lake turns into a nightmare. Plus, if you damage another person’s property or hurt someone else, it can help cover claims filed against you.