Anyone who owns a car automatically has a comprehensive auto insurance plan to cover them in case of an accident, natural disaster, or any other type of unexpected event. Well, the same should go for those who own boats.
If you are lucky enough to live close to a large body of water and own your own boat, having the best boat insurance policy possible is essential. With a great policy, youâ€™ll be better able to enjoy your time out on the waves, and you wonâ€™t have to worry about an unexpected event wrecking your finances and savings and ruining future nautical ventures.
What Does Boat Insurance Cover?
As with any insurance plan, what exactly is covered in your policy will depend on the particular plan that you choose. One thing to keep in mind is that boat coverage plans does not generally cover small vessels. This includes personal canoes, kayaks, and other small boats or watercraft. What this insurance does cover are yachts, fishing boats, paddle boats, leisure craft, and pontoon boats. Basically any large watercraft that has a motor will be covered with this insurance.
â€¢ Collision Coverage
Collision coverage will cover the replacement or reparation of your boat or boat parts in the event of a collision on the water. Keep in mind that only some policies cover collisions while your boat is not on the water â€” for example, while you are driving it on a trailer.
â€¢ Personal Injury Liability Coverage
Naturally, you hope that no one is ever hurt while they are on or near your watercraft. But accidents do happen. And even if itâ€™s not your fault, if an individual or party is personally injured on or near your boat or if their property is damaged, you may be sued for medical bills, time off from work, or replacement costs. The liability coverage that comes with many boat insurance plans will cover you for these damages.
â€¢ Property Damage Coverage
This is a big one. Property damage coverage will take care of your boat and property in the event that it is damaged accidentally or on purpose from vandals. It will also cover theft. For the most part, the actual property that is attached to your boat will be covered, but keep in mind that things like life jackets, fishing gear, and other boat accessories may not be covered. Again, it all depends on your particular policy.
Finding the Right Insurance for You and Your Boat
When youâ€™re out on the water, you want to know that your boat and property is safe. It will give you peace of mind as you enjoy yourself with your family and friends. Call an insurance agent near you today or visit your local office to learn more about your boat insurance options and to pick a plan.