Owning and operating a boat is a lot of fun, but it’s also a big responsibility. Part of being a responsible boat owner and operator is making sure you, your family, and your investment is covered in case of an accident, theft, vandalism, fire, or damage due to natural disasters. Secure your financial assets by purchasing the proper boat insurance for your needs.
Most boat insurance policies offer basic coverage for many types of watercraft, including runabouts, mini jet boats, pontoons, bass boats, sailboats, cabin cruisers, and houseboats.
The property that is typically covered under your policy is:
- Permanently attached equipment
- Electric trolling motors
- Anchors, oars, tools, tow ropes, and extra fuel tanks
- Detachable canopies and seat cushions
- Life preservers and dinghies
Boat insurance covers Boat Medical Payments, which covers medical expenses for you and your passengers; and Boat Liability, which covers medical expenses, repair costs, and lawsuit protection if you are found at fault in an accident involving another boat.
Be sure you have at least this basic coverage before you take your boat out on the water.
If you want additional boat insurance coverage, there are several options you may be able to purchase. They include:
Water Sports or Sporting Equipment Coverage:
This covers your waterskis, diving equipment, and fishing gear.
Personal Effects Coverage:
This covers your fishing equipment, clothing, and other personal effects that are lost or damaged while on board.
Ice and Freezing Coverage:
This allows claims for damages resulting from ice and freezing temperatures.
Covers costs to haul or protect your boat in the case of an NOAA Named Storm.
This covers your cost to have your boat towed if your trailer or hauler is out of working order.
Uninsured Boater Coverage:
Covers your injuries caused by an uninsured boater or in the event of a hit-and-run accident.
This protects you from clean-up claims by third parties in the event of damage due to an oil or fuel spill that occurs from a sinking, fire, collision, or grounding.
This pays for the expenses of raising, removing, or destroying your boat should it sink or get stranded.
PWC (Personal Watercraft) Insurance:
This gives coverage for your jet skis.
To determine which type of additional coverage you should get for your specific boating needs, consult your insurance agent.
Questions to Ask Your Agent
Before you sign on the dotted line, be sure you understand everything written in your policy and ask plenty of questions, such as:
- Am I covered for rivers, lakes, and ocean boating?
- What are the specific boating risks in my area?
- Are younger boat operators covered?
- Do I have coverage for my trailer and boating supplies?
- Do you offer any discounts for having multiple vehicles on a policy, a good driving record, taking a boat safety course, or paying the full premium up front?
- What payment options do you offer?
For the answers to these questions or any others, contact an experienced agent at Taylor-Moore Agency in Derby, Vermont or request a free quote.