Boat Insurance

Did you know that Boat Insurance is one of the earliest forms of insurance? This policy aims to cover you against damages, loss/theft or liabilities. This insurance is for the following vehicles:  boat owners and operators of motorboats, sailboats, fishing boats, and even yachts.

How it works

The initial priority is to decide on the type of coverage you need, the maximum deductible that can be covered, and the amount you need for coverage.

Once you buy this insurance and have incurred a loss or damage under your policy, you will need to file a claim. You will then, receive compensation and other damages covered according to your insurance policy.

Types of coverage

These coverage are divided into three; those that covers you and your boat, those that cover others, and optional coverage.

Personal coverage includes:

Property coverage-This is for repairing your boat in case of damage or accidents with other boats. You will also not incur wreckage removal costs if your boat is damaged.

Medical coverage-This covers your passengers in case they are injured while on your boat. It also caters for medical expenses like x-rays and settling medical bills.

Special equipment coverage-This deals with equipment like fishing gear, fishing reels, fishing accessories, tackle bags, etc.

Salvage coverage-If your boat has been damaged and given a salvage title, you need salvage coverage to reuse it.

Coverage for Others

Liability coverage in case you damage another person’s boat.

Injury to another person by your boat, and can even include death to that person.

Optional covers

Cover against Uninsured watercraft.

Towing coverage-this coverage is mainly for trailer break down.

Ice coverage.

Fuel spill coverage.

Key benefits of boat insurance

There is a reduced risk of owning and operating a boat.

Worry-free rides- you will be at ease knowing any loss will be covered.

There is reduced cost. Major costs like hospital bills, full trailer repair and accidents are covered. The benefits of insurance often outweigh the cost created.

There is a wide range of coverage to choose from.

The number of boaters is increasing, and so is the demand for boat coverage. Don’t take chances with your valuable boat and make sure to select the right insurance coverage.