Boat Insurance

What Does Boat Insurance Cover? Contact Us for More Info

Are you a boat cruiser? Do you have a boat for recreational or commercial use? Boats are precious assets and should not be left without insurance. Water can be rife with unforeseeable mishaps, and boat insurance is the best way to mitigate the consequences of these misfortunes.

You may choose between two kinds of coverage when purchasing boat property insurance: agreed-amount coverage or actual cash value coverage. Depreciation is considered when determining the cost of repairs under actual cash value coverage. When you purchase coverage, your insurer and you agree on an amount of coverage that will assist you in paying for repairs based on the value of your boat.

Here are some things covered by boat insurance:

• Liability protection: Liability insurance may assist in covering the costs you incur due to an accident you cause that damages another’s property.
• Health insurance coverage: Imagine a boat accident hurting you or your passengers. Medical payments insurance may assist in covering additional costs like hospital bills, prescriptions, or X-rays.
• Coverage for uninsured watercraft: What would happen if you or one of your passengers is hurt in a collision with an uninsured boater? Your boat insurance policy’s uninsured watercraft coverage could assist in covering the associated costs.

The cost of your boat insurance depends on a few factors; some of these factors are

• The size of your watercraft or boat
• Your desired boat or watercraft make and model
• The scope and type of protection you decide to include in your insurance policy
• How often and how do you plan to utilize your boat or other watercraft
• How will your boat be stored?