Boat Insurance: What Does It Cover?

Motorboat sailing through the ocean

You just got the new boat into the water and are ready to explore. Taking a boating trip is a grand experience, but there are a lot of possible hazards out there that can ruin your fun. That’s why if you have acquired a vessel, you should invest in a quality boat insurance policy.

It may not occur to you to get watercraft insurance, but people have been insuring their boats since Ancient Greece. It is definitely helpful in case you collide with another boat or dock and it causes damage or injury. So what kind of protections and coverage are offered when you buy boat insurance?

Liability Coverage

The vast majority of watercraft insurance plans include liability coverage, meaning that the policy will protect you if you are responsible for a boat accident that caused damage to someone’s property or caused physical injury to another person. Not only do liability plans cover collisions made by your boat, but also cover damage done from situations caused by your vessel such as large wakes. Many boat liability plans can also cover legal fees and court costs in the event of a lawsuit.

Property/Vessel Damage Coverage

If the hull of your boat or any of its machinery is damaged in a collision, your watercraft insurance will help compensate you for repairs. One of the pluses is that your boat insurance will cover for damages for collisions at occur on water or on land. However, the types of coverage can vary from insurer to insurer, but most boat insurance plans cover damage done to:

  • The hull
  • Motors
  • Fuel tanks, batteries, etc.
  • Anchors
  • Onboard safety equipment such as life rafts, fire extinguishers, etc.

Aside from collisions, boat insurance can cover damage caused by fires, storms, and other such hazards. The majority of boat insurance plans also cover any theft or vandalism of the boat. It’s important to look through a variety of boat insurance offers to see which plans give you the appropriate coverage you want.

Uninsured Watercraft Coverage

This type of coverage might not be included with standard boat insurance plans, but it is worth the extra money. Uninsured watercraft insurance helps cover property losses or physical injury done to you if you collide with a boat that has little to no coverage. If an uninsured boater causes damage to your property or physical injury to you or your passengers, you will have the repair expenses and medical expenses covered.

Medical Payments Coverage

If you or one of your passengers gets physically hurt or injured during a boating accident, your boat insurance can possibly include medical payment coverage. This helps pay for medical expenses such as medications, hospital visits, and x-rays. It overall assists paying medical costs that are accrued to treat injury caused by a boating incident.

Additional Coverage

There are additional optional coverage plans that can be attached to standard watercraft insurance policies:

  • Towing and Assistance – Pays for emergency assistance such as fuel delivery at sea, boat towing, and emergency repairs.
  • Boat Trailer Coverage – Insurance coverage for damages done to your boat trailer.
  • Wreckage Removal – Pays for the removal of your watercraft if it is deemed totaled.
  • Personal Property Coverage – Covers the repair or replacement of personal items such as jewelry, clothing, fishing gear, etc.
  • Fuel Spill Coverage – Pays for the cleanup of any fuel leaks or spills of fuel that your boat is responsible for.

Now that you know what watercraft insurance can do for you, why not get your boat proper coverage? Cost-U-Less can present to you a great affordable boat insurance policy within minutes. Give us a call or go online for a free boat insurance quote today!

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