Watercraft & Boat Insurance
Watercraft & Boat Insurance Information
Don't Rely On Homeowner's Insurance to Keep Your Boat Afloat
Some boat owners may assume that their boat is covered under their homeowner's insurance policy. But in fact, there I sonly limited coverage ($1000 - $1500, depending on the insurance company) for damage to a boat on your homeowner's policy. And, generally, the loss must occur at your home.
Damage to your boat that occurs while you are launching the boat or when you are out on the water would not be covered by your homeowner's policy. And, more importantly, liability protection in the event someone is hurt or some property is damaged by your negligent operation of your boat is not covered by your homeowner's policy (with exceptions for small boats that have an outboard motor 25 horsepower or less.)
The solution is Boat Insurance. Boat insurance not only covers damage to your boat in and out of the water, but it also provides liability protection in case you are responsible for injury to swimmers, water skiers, or other boaters, or damage to another boat, a dock or the environment (due to fuel spillage). In addition, boat insurance provides no-fault medical payments coverage for accidental injuries to the passengers on your boat.
Coverage For Your Boat While in Transit
While in transit, the liability protection on the auto insurance policy of the towing vehicle will extend to cover damage or injury to others that is done by your towed boat and/or trailer, if you are negligent. (This is a good reason to check your auto liability limits to make sure that they are adequate - damage to a large semi-trailer can be hundreds of thousands of dollars!)
In the example above, the damage to your boat and trailer would only be covered if you had a Boat Insurance policy!!!
That's why it makes sense to call us before you buy a boat - ideally when you are still just thinking about it. Not only can we review your auto policy and adjust your liability coverage to the new exposure of towing a trailer, but we can also comparison shop your potential boat insurance rates with all of our companies so that you will have a preliminary idea before you buy. Then just call us when you close the deal.
Coverage for the People on Your Boat
A boat insurance policy will provide liability and medical payment coverage for the people that are aboard your boat, or that you are towing on water-skis, as long as you aren't participating in a competition.