Share, , Google Plus, Pinterest,

Print

Posted in:

Boat and Personal Watercraft Insurance

We are halfway through the summer here in California, and many of my friends, family, and insurance customers are spending quality time out on the water with their boats and water toys. Speedboats, ski boats, sail boats, fishing boats, cabin cruisers, pontoon boats, WaveRunners, Jet Skis, catamarans, yachts, and so many more.

Unlike auto insurance, boat insurance is generally not required unless there is a loan in place. With that being said, the importance of covering yourself (liability) and your boat cannot be understated and should be reviewed with your insurance professional on an annual basis.

What Does Boat Insurance Cover?

Hull and equipment coverage is one of the foundations of a boat insurance policy. This coverage pays for the damage to your boat and its dinghy, including theft and vandalism.

Another foundation to a boat insurance policy is liability insurance. This will cover cases where you’re legally liable for injury or property damage to someone else due to the use, ownership, or maintenance of your boat. Boat liability insurance extends to people who operate your boat with your permission.

Here are additional boat insurance coverages available:

  • Personal property coverage pays to replace your belongings that get damaged while they are on the boat, being loaded on or off your boat, or stored in a dock box by your boat.
  • Medical payments coverage pays the medical bills of someone who is injured while on your boat or boarding or leaving your boat.
  • Uninsured boater coverage pays medical bills for bodily injury due to physical contact between your boat and an uninsured boat.
  • Towing and assistance is a standard part of a boat insurance policy.
  • Boat trailer insurance pays for damage and theft.

Contact your insurance advisor and review your current boat coverages, as they can vary across the board. It’s imperative that your insurance professional discusses all of the coverages and potential losses, from your actual hull, your liability coverage, and individual risks, to all the accessories.

Written by Craig Davis

Craig Davis is an agent for Farmers Insurance and the owner of Craig Davis Family Insurance located at 27625 Jefferson, Suite 100, in Temecula. He may be reached at (951) 699-1776. cdavis@farmersagent.com.

56 posts