Boat insurance is financial protection to cover you and your loved ones from the costs of unexpected events damaging your boat or the costs you may be liable for due to boat-related accidents. There is no law requiring that you purchase insurance for your boat, but it is prudent to consider this coverage to protect the investment you have made in your boat.
Boat insurance works similar to the insurance for your car, and can protect in the same way. But, since boats have different features than your car, you will want to make sure your insurance company gives you all the coverage's you need and any savings that may lower your premium before you get a boat insurance quote from an insurance company.
Applies to injuries you, the designated driver or policyholder cause to someone else. You and family members listed on the policy are also covered when driving someone else's boat with their permission. Liability insurance protects you from serious financial loss if you are sued stemming from a serious accident.
Protect Your Financial Health! Consider buying more than the state-required minimum to protect assets such as your home and savings.
Covers damage to motor
Loss, damage or theft of personal items and items used to run the boat. Coverage also usually includes personal items of others while on the boat. Sometimes limited to 50% of actual insured amount of boat.
Provides cost coverage for towing of boat for any reason.
According to information from the U.S. Coast Guard, property damage to boats has been increasing. Many states now require boat owners to have boat insurance. If you have your boat on a loan or use a marina, you will probably also be required to have boat insurance. If you are not required to insure your boat, it is important you still consider purchasing boat insurance from an insurance company.
Depends. Depending on the size and type of boat you have your homeowners policy does offer some coverage. The length and speed of the boat are the two factors determine coverage. To find out if your boat is covered under your homeowners, or condo insurance policy please refer to your policy.
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