Michelle Dixon April 15, 2015 No Comments

Statistic: In 2013, recreational boating accidents resulted in well over $10 million in damage, down from over $25 million in damage in 2011.

Boat insurance covers most motored water-crafts in the event of a loss, such as an accident or theft, which could make all the financial difference in the event of catastrophe. If you are an individual who is in the market for a new boat (or already own one), considering boat insurance should be just as important as that new boat you plan to own!  Boat insurance policy’s can include:

  1. Hull & Auxiliary Equipment coverage, including any necessary repairs or replacement of your boat.
  2. Watercraft Liability coverage, providing protection against claims made by others for property damage and/or bodily injury.
  3. Uninsured Boater coverage, providing liability protection to you and your guests should an “uninsured” boater cause an accident resulting in bodily injury or property damage.
  4. Additional coverage options, such as coverage for medical payments, fishing/special equipment, waiver of depreciation on outdrive or outboard motors, towing and assistance coverage etc.

Boat insurance need not be expensive. In many cases, small boats can be adequately covered under ones homeowners insurance policy. Boats of high value, over a certain length (normally 26 feet) and/or travel faster than 25mph will usually require a separate policy. On average, boat insurance policy’s range from $200-$500 per year, but this will solely depend on the type of boat you are interested in and your personal profile. Like most insurance policies, discounts are available!  It is important to discuss your qualification with your agent in order to save extra bucks.

Our independent insurance agent professionals can help guide you to the most appropriate boat insurance rates and options so that you can enjoy the water to its fullest. If you’re thinking about getting a boat, don’t hesitate to receive any insurance information you need by contacting us at (845) 986-1177.