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Boat Insurance

Good Boat Insurance, Customer Friendly Coverage


Boat insurance coverage is not always legally required in many states. That, however, certainly doesn’t mean you shouldn’t carry the coverage necessary to protect your boat and your family from a myriad of possible losses. Outside of your home purchase, your boat will likely be the largest investment you have and, as such, it is certainly worth protecting it with a policy that is more comprehensive. Good boat insurance coverage comes in a variety of forms to protect you against physical damage to your boat and the liability you might face, should you be involved in some kind of boating accident. Boat coverage is an affordable way to safeguard you from the risks of loss you will face while on the water.

Kinds of Boat Insurance Coverage

A boat insurance plan will normally come with two basic forms of coverage: liability and physical damage protection. With physical damage protection, you are financially safeguarded from damage to your boat resulting from common events and risks, such as severe weather, fire, theft, vandalism, collision, sinking, capsizing, stranding, and even explosions. A standard policy protects your boat hull, motor, boat equipment, and trailer from many kinds of losses as a result of the above-mentioned perils.
Liability coverage financially safeguards you from the consequences of your boat causing damage to someone else’s property or in causing injury to others. This includes damage caused by your vessel impacting another boat or a dock, etc., or damages caused by your vessel as a result of, say, a large wake causing another vessel to capsize. Boat liability coverage protects you from legal actions and judgments, and expensive legal fees. Liability protection also covers you from whatever legal problems might befall one if a passenger is hurt on his or her boat, and so on. If a lawsuit is brought against the boat owner, a policy’s liability component is what would pay for all or most of the medical bills as well as legal expenses of the injured party- otherwise you, as the boat owner, would be responsible for these costs out-of-pocket.
Also, if the boat is damaged when off the water or stolen, vandalized, or destroyed or damaged in an accident on the water, this coverage can kick in and help the policyholder greatly.
Supplemental aspects to a policy can be purchased too. What are called “riders” ensure that a boat owner has more protection for various perils and accidents that are not necessarily covered with a standard policy. Here are some examples:

Optional Coverage

In addition to standard liability and physical damage coverage, you can put together a boat policy with additional forms of protection like boat medical payments coverage to compensate for medical costs if you or someone else on your boat is hurt as a result of a collision. There is emergency service to pay for towing, fuel delivery, and labor and, also, repair cost compensation to cover repairs on your boat, equipment, motor, or trailer. And, as is often a problem, there is uninsured/underinsured watercraft coverage that safeguards you should you be involved in a boating accident with an uninsured boater. Finally, one can purchase personal effects coverage that financially protects one’s personal belongings if it is lost, stolen, or damaged.