Level 1 header
There is nothing quite as thrilling and pleasurable than boating: the throb of the backlash against the hull, the wind in your hair, the snap of the mainsail and the whir of an outbound fishing line.
Owning a boat is like a dream come true for most people. Your boat provides an escape from the daily routine. But, part of the ocean’s charm is its mystery and you should be prepared for the unforeseen. Accidents happen and it could result in damages and costly injuries. So, if you are out on the water with friends or enjoying a relaxing time fishing, you will have a better time knowing that your boat, your passengers, and your belongings are covered with a very good insurance policy.
If you are under the impression that your homeowner’s insurance will stretch to cover your boat then you are sadly mistaken. Many homeowners’ policies do have a minimal amount of coverage for small boats with a very small engine or no engine like a sailboat. But your homeowner’s policy will not cover for what you need if you buy a $10,000 or $20,000 boat. Your boat is unique and it requires a separate policy.
Benefits of Boat Insurance
In some states, like California boater’s insurance is not mandatory. However, if your boat is financed it is likely that the insurance company will require that you have a boater’s insurance. So, if a boating accident or theft occurs your boat insurance can help you to repair your watercraft and avoid personal liability for the safety of others, and much more.
What Does Boat Insurance Cover?
Boat insurance covers powerboats, sailboats, inboard and outboard motorboats, jet skis, performance boats, wave runners and personal watercraft. But, the type of coverage that you need will depend on a number of factors such as size, age, type, and value. The policy options are similar to car insurance and the types of coverage often included in a boat insurance policy are:
- Liability coverage: Like car insurance personal liability coverage will help you pay for expenses to boaters and boat owners if you are at-fault for an accident. Most policies include protection for your passengers and liability for water sports activities. It will pay for damages to the hull, furniture, sails, and machinery as well as medical costs, lost wages and other costs incurred as a result of the accident.
- Medical Payments Coverage: If you and your passengers and water skiers/tubers are injured after an accident the medical payments coverage may help pay for the resulting medical treatment such as hospital bills, medications or X-rays.
- Physical Damage Coverage: It usually helps protect your boat whether it is on water or on land. This type of coverage pays for the cost to repair or replace your boat, its motor, your trailer or any permanently attached equipment in the event of an accident, theft or other covered incident.
- Uninsured/Underinsured Watercraft Coverage: Many boaters may choose not to get boat insurance as it is not always mandatory. So if an uninsured or underinsured boater collides with your watercraft and you or one of your passengers are injured, this type of coverage will pay for the resulting expenses like medical treatment, lost wages, and other costs.
- Fuel Spill Liability and Wreckage Removal: If your boat sinks or is badly damaged, there is a chance that it could leak fuel or oil into the water. As a boat owner, you will be responsible by law to have this cleaned up. This can be both time consuming as well as expensive. This coverage will help with the cost of clean up after a covered boating accident.
- Emergency Assistance: This provides coverage for towing and emergency assistance if your watercraft is disabled on the water. It will pay for towing, oil or loaned battery, labor and delivery of gas.
- Unattached Equipment Coverage: This will help pay to repair or replace equipment that is not permanently attached to your watercraft or boat, but is designed for use on a boat. It includes items like lifesaving equipment, water skis, oars, anchors, tarps, fire extinguishers etc.
- Personal Effects: Personal effects coverage protects personal items such as scuba/snorkeling and other sporting equipment, clothing, cell phones, electronics, and fishing gear. It does not include furs, watches or jewelry and the limits vary from state to state.
- Navigational Area: It is important to know where you are covered in the water. Navigation area protection may be restricted to a certain area. So if you are planning to make an extended trip to Alaska, Hawaii, Mexico or Canada navigation may be added to your boat policy depending on the type of your vessel.
-
Some Other Aspects of Boat Insurance : Unlike any other state, California presents a unique set of perils and dangers for which boaters need a customized boat insurance policy which can protect their watercraft from fires, earthquakes, ice and freezing damage, and much more. So, some of the aspects which need to be considered for California boat insurance are:
- Although most boat insurance policies cover damage due to Tsunamis it is important to check to see if your policy covers this type of disaster.
- Ice and freezing can be a big concern, so you should make sure your policy covers damage from this peril.
- If your watercraft is not properly winterized then in some cases ice and freezing may be excluded.
- Credit may apply if your vessel is laid-up in the winter months.
- Some insurance companies put a minimum age on insuring a boat, which is usually 20 years old.
- As sailboats are not as perilous as speed boats so sailboat owners receive credit.
- For skiers, you should make sure that waterskiing is included in your coverage.
- Go-fast and High-Speed boats are subject to different set of guidelines as they present a greater risk. The maximum speed of such vessels in most cases is 120MPH.
- A sailboat mast may require a separate deductible especially if it is of carbon fiber. Carbon fiber is stronger and lighter, but if there is an accident it usually has to be replaced completely.
For more information on boat insurance please contact one of our friendly customer care executives at 888-888-9914 or request a quote by clicking here
