Why You Need Boat Insurance

Why You Need Boat Insurance



Some people simply overlook boat insurance. They think that nothing bad is​ going to​ happen,​ when in​ reality,​ bad things often happen involving boats!

If you​ own a​ boat,​ you​ need boat insurance. in​ fact,​ many states now require boat owners to​ carry Watercraft Liability insurance before they transport or​ operate a​ boat. if​ your boat has been financed,​ your lender will almost always require you​ to​ carry full coverage boat insurance.

Again,​ most people don't think anything bad will happen – but bad things do indeed occur!

Vandalism is​ one problem that you​ may encounter. This is​ especially true if​ you​ dock your boat in​ a​ marina. Vandalism can also occur when you​ park your boat at​ your home,​ or​ at​ a​ hotel when traveling.

When you​ shop for insurance,​ make sure that vandalism is​ covered on​ your policy. Most issuers of​ boat insurance will only offer you​ the​ Watercraft Liability – but in​ most cases,​ you​ need more coverage than that! Theft is​ another possibility. Cars are stolen all the​ time – but boats are stolen as​ well. in​ fact,​ stealing a​ boat is​ easier than stealing a​ car!

Boat insurance should cover you​ in​ the​ event of​ vandalism,​ theft,​ sinking,​ fire,​ storms,​ capsizing,​ stranding,​ collision,​ and explosion. Furthermore,​ the​ insurance should cover the​ boat,​ the​ motor,​ and the​ trailer used to​ transport the​ boat. the​ boat should be covered no matter who is​ operating the​ boat,​ as​ long as​ they are legally allowed to​ operate the​ vessel.

Boat insurance will typically cover you​ in​ the​ event of​ malfunction as​ well. if​ something happens to​ your motor,​ it​ should be covered by your insurance. it​ should also cover you​ in​ the​ event that your boat needs to​ be towed back to​ shore.

What you​ are covered for depends on​ what type of​ coverage you​ purchased through your insurance agent. For this reason,​ it​ is​ important to​ know what type of​ coverage is​ available. Not all insurance companies will offer all types of​ coverage,​ but they will offer Watercraft Liability and Watercraft Medical payments.

Watercraft liability covers you​ just like car liability insurance protects you​ in​ the​ event of​ an​ accident where you​ are found to​ be at​ fault. Medical payments will cover medical expenses incurred by you​ and the​ occupants of​ your boat that are the​ result of​ a​ boating accident in​ the​ covered water vessel.

Optional insurance usually includes coverage for reasonable repairs,​ emergency services to​ your boat,​ motor,​ or​ boat trailer,​ and wreck removal. Wreck removal is​ very important coverage to​ have. if​ you​ boat sinks,​ it​ will need to​ be raised before an​ insurance company can access the​ damages and pay your claim. This is​ very expensive,​ and in​ most states,​ the​ law requires you​ to​ remove wrecked or​ sunken vessels.

Boats may be luxury items – but they are very expensive luxury items.

Repairing or​ replacing a​ boat may not be something that you​ can easily afford – but in​ most cases,​ you​ will find that boat insurance is​ quite affordable. However,​ if​ you​ are thinking in​ terms of​ cost,​ and you​ think that you​ cannot afford the​ boat coverage,​ you​ can be certain that you​ will not be able to​ afford to​ repair or​ replace the​ boat either!

No matter how you​ look at​ it,​ you​ need boat insurance,​ even if​ you​ just purchase the​ watercraft liability coverage. Again,​ most states now require this liability coverage for water vessels,​ and if​ the​ boat is​ financed,​ the​ optional coverage may be required as​ well.

Discuss your boat insurance coverage needs with your insurance agent to​ determine what coverage is​ right for you​ and your boat.




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