Boat Insurance

Boat insurance is somewhere between car insurance and homeowners insurance. If you own a boat, you might believe that your homeowners insurance will cover the boat, but in most cases it will not. Your homeowners insurance might cover a small boat without an engine like a sailboat. Insurance specifically for your boat will cover collisions, bodily injury, medical pay, uninsured boater and comprehensive. Some policies will offer additional coverage’s that you would not normally get with car or homeowners insurance.

If you own a boat, you will want boat insurance to cover your investment. If you keep your boat at home and never use it, you might not need insurance. This insurance does not usually cover your boat when it is out of water. If you keep it docked, you will want to protect your boat against damage and theft while it is in the water.

Insurance for your boat works a lot like your car or homeowner insurance. If something happens to your boat or you are in an accident, you file a claim and recover damages. This insurance can cover most any type of watercraft from fishing boats to jet skis. There are some specialty coverages available that you would not find for your car.

If you buy a new boat that does not have a previous owner, you can purchase insurance that covers the replacement of your boat in case of a total loss. Some policies will cover the loss of fishing equipment. Many policies will have a vanishing deductible. If you go an insurance period without a claim or accident, you will see your deductible reduced by as much as 25%. If you have losses of personal items like cameras or other items, you can get a policy that covers those kinds of losses. You can get a policy that covers 24-hour roadside service for your trailer and towing services for your boat, while it is in water. If something happens and your boat sinks, there are policies that cover raising the wreckage or destroying it.

Having insurance for your boat is a safety net for your investment. If something happens to your boat, it will cover the costs of repairs and losses. If you cause damage to anothers boat or to a dock, this insurance will cover that as well.