The Ins and Outs of Boat Insurance

Welcome aboard! The summer season is here; it’s time to take a fresh look at your boat insurance policy. While your standard homeowners policy may cover some things related to your boat, it isn’t sufficient to keep you covered during your summer adventures. Without watercraft insurance, you could be on the hook for costly repairs and damages to your boat and passengers.

It’s important to protect yourself both in and out of the water. Here are the basics of boat insurance.

Property coverage. Once your boat is out of the water, insurance coverage can change should something happen. Property coverage manages any physical damage that happens to your boat and equipment, radar systems and sporting equipment like water skis. This also involves transport of your vehicle. One example is if an automobile collides with your trailer on the way to your festivities.

Personal liability. This coverage is useful in the case that there’s any bodily injury or damage to another’s property. Additionally, medical payments coverage takes care of medical expenses incurred from any accident involving your covered boat.

Uninsured boaters. This insurance is also important, as it helps to cover expenses should you be involved in an accident with an under- or uninsured boater in the busy summer season.

Exemptions. Losses and damages involving racing or stunts, failure to properly maintain your boat or damage that occurs from improper storage or animals like birds and rodents are typically not covered under a standard policy.

Questions to ask. It’s important to discuss all the aspects of your policy with us, including how your boat will be valued should a claim occur, how repairs and claims are managed, how your policy deals with salvage coverage and towing reimbursement, and much more.

We can guide you through these questions and determine what’s best for you. From land to open water, we can also help you save on your premiums by bundling your boat policy with your homeowners insurance.