Customer Friendly Boat Insurance Coverage


Boat insurance coverage is not always a legal mandate in many states. That, however, certainly doesn’t mean you shouldn’t obtain such valuable coverage that protects your boat and your family from a wide range of possible losses. Outside of your home purchase, your boat will likely be the biggest investment they make and, as such, it is important to protect it with a policy that is more comprehensive. Good boat insurance coverage comes in a myriad of forms to financially safeguard you from physical damage to your boat and the liability you might face, should you be involved in some type of boating accident. Boat coverage is an affordable way to protect you from the risks of loss while on the water.

Types of Boat Insurance Coverage

A boat insurance plan will usually come in two basic forms of coverage: liability and physical damage protection. With physical damage protection, you are financially protected from damage to your boat resulting from common perils, such as severe weather, fire, theft, vandalism, collision, sinking, capsizing, and even explosions. A standard policy protects your boat hull, motor and other equipment, and even its trailer, from many types of losses as a result of the above-mentioned risks.
Liability coverage financially safeguards you from the results of your boat causing damage to someone else’s property or in causing harm to others. This includes damage caused by your vessel hitting another boat or a dock, etc., or damages caused by your vessel as a result of, say, leaving large wake that causes a smaller vessel to capsize. Boat liability coverage protects you from legal actions and judgments, and expensive legal costs. Liability protection also covers you from whatever legal problems might occur 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.
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 help the policyholder greatly.
Supplemental aspects to a policy can be obtained 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. Below are some examples:

Optional Coverage

In addition to standard liability and physical damage coverage, you can acquire 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 if you are involved in a boating accident with an uninsured boater. Finally, one can obtain personal effects coverage that financially protects one’s personal belongings if lost, stolen, or damaged.