Watercraft/Boat insurance is Boat insurance allows you to enjoy peace of mind as you navigate your personal watercraft (PWC) or boat.
If you don’t have a separate boat or PWC insurance policy, you’re probably under-insured. Most homeowners policies have size restrictions, limitations on horsepower, and limits on damage coverage, if they offer any coverage at all.
It is also important that you work with a company that can create a policy customized to meet your needs. All boats aren’t the same. Customize your insurance to include coverage for damage to your boat (including hull, sails, machinery, and more), new boat replacement, and fuel spillage liability.
Whether you are on the water or storing your boat for the winter, it’s important to keep your watercraft protected against the unexpected year round. Typically, coverage is not required by law, but your lien holder may have requirements. We can help answer your questions and help you determine which coverage options are best for you.
Here are some of the most common elements of personal watercraft or boat insurance policies:
- Watercraft medical payments coverage– Helps pay medical costs if you or anyone on your boat or watercraft is injured in an accident.
- Watercraft liability coverage– If there’s an accident, this covers the medical and other expenses of people injured on the other vessel as well as the costs of repairing or replacing another person’s boat or property.
- Property coverage– This covers damage to your boat if you’re involved in an accident with another boat, watercraft, or with something else, like a pier, buoy, dock or foreign debris. It also typically pays for damage caused by something other than a collision, such as theft, fire or vandalism.
- Repair cost– This covers repair work done on your watercraft or boat, motor, equipment or trailer.
- Emergency services– If your boat breaks down, this covers the cost of towing and labor or the cost of delivering fuel, oil or a battery.
- Uninsured watercraft coverage– If you’re in an accident with an uninsured boater, this helps pay for injuries that you or anyone else on your boat sustains.
- Agreed value option– When you’re reimbursed for your boat’s value, you’ll be reimbursed for what it was worth at the start of the policy regardless of the current market value.
- Personal effect coverage– This covers your fishing equipment and other personal belongings if they’re damaged, lost or stolen.
- Additional boat equipment– This covers boat accessories, including anchors, life jackets and navigation gear..
- Boat trailer coverage– This covers damages to your trailer resulting from an accident or other incident.