Boat Insurance

A Boatowners Policy can insure you against most risks of owning and operating your boat, its motor and its trailer.

 

These risks may include:

• Sinking
• Fire
• Storms
• Theft
• Capsizing
• Stranding
• Collision
• Explosion

 The property covered includes equipment permanently attached to the boat as well as:

• Anchors
• Oars
• Electric trolling motors
• Extra fuel tanks
• Tools
• Detachable canopies
• Seat cushions
• Life preservers
• Skis and their tow ropes
• Dinghies

 

It can also protect you against liability lawsuits, should you injure someone with your boat or damage their property.

 

Liability coverage includes:

 

Watercraft liability coverage provides protection for legal liability because of an accident resulting from the ownership, maintenance, or use of your watercraft, including bodily injury, property damage and legal defense.

Watercraft medical payments coverage pays medical expenses up to the limits in the policy for you, your resident relatives and other occupants of the boat injured by an accident arising out of the ownership, maintenance, or use of the watercraft.

Additional coverages include those for:

Newly acquired watercraft covers your newly acquired watercraft for damage caused by an insured loss.

Reasonable repairs covers repairs incurred to protect covered property from further damage.

Emergency service pays up to $500 for reasonable costs that you incur resulting from specified emergency service to your boat, motor or boat trailer.

 Wreck removal pays the reasonable expenses you incur for any attempted or actual raising, removal or destruction of the wreck of your watercraft when damage is caused by an insured loss and removal or destruction is required by law.

 

Make sure to ask your agent these questions:

 

• Are my trailer and boating supplies covered?
• Do I get discounts for completing boating safety courses? Which ones?
• Am I covered for both inland and ocean boating?
• Are there any unique exclusions or exceptions in my state/area?
• Are younger operators covered?
• Will I receive the actual cash value or replacement cost if my boat is totaled?
• What payment options are available?