When you choose an insurance policy, you decide how much coverage you need and what types fit your unique requirements. The best boat insurance covers two primary risk areas, physical damage, and liability.
What Does Boat Insurance Cover?
Many variables affect the compensation you receive for a claim, such as your deductible amount, limits and replacement terms. Your policy may cover the following:
- Comprehensive: This protects you if someone steals, damages or vandalizes your vessel.
- Property liability:This covers the costs of repairs for damage you cause to other vessels, docks or buildings.
- Collision coverage: This helps pay for the cost of replacing or repairing your ship in the event of a crash.
- Bodily injury: If you injure a person in an accident involving your boat, this protection mitigates the cost of legal expenses, lost income and medical bills.
- Additional options: There are various extensions available to include in your policy, depending on your needs. You can add protections to cover accidents caused by uninsured individuals.
How Much Coverage Do You Need?
The amount of insurance you obtain for your vessel depends on its size, age and value. Consider how you use your watercraft, as that will affect the type of policies you require. For instance, fast speed boats should obtain more liability.
To find the best boat insurance, contact an experienced agency that can help you choose the policy you need to ensure peace of mind before you set sail.