There aren’t many better ways to spend a day off than out on the open water with the sun on your face. Boating is a popular pastime, with more than 15 million boats registered in the United States, but many boat owners don’t know the importance of having a dedicated insurance policy for their boat or personal watercraft. From boating accidents to theft, it’s imperative that you protect your vessel from the unforeseen.
Doesn’t My Homeowners’ Insurance Cover My Boat?
While your homeowners’ insurance probably does offer some protection, it likely isn’t enough. Your homeowners’ insurance usually only offers around $1,000 and $1,500 for damage or theft that occurs at your home, but will not cover you for anything that happens in transit or while your boat is on the water. There are also limits to the coverage due to the length of the vessel and the size of the motor.
How Do I Protect My Boat in Transit?
While transporting your boat, it’s covered by the towing vehicle’s insurance. It is important to contact your insurance agent to confirm that your auto insurance policy is adequate to transport a watercraft via trailer. It’s likely that you will want to increase the coverage on your auto policy or add umbrella coverage to protect your boat in the event of an accident or trailer malfunction.
Will Boat Insurance Cover the People on My Boat?
A boat insurance policy provides liability and medical payment coverage for any injuries that take place on your boat while it’s on the water. It also provides coverage for water-skiers and tubers that you’re towing behind your vessel.
Is My Boat Covered Everywhere?
We’re glad you asked. Most boat owners assume that once their boat is covered, they can take it anywhere. Depending on the policy, this may not be true. Many policies only cover inland waters, while others cover coastal waters within certain geographical ranges. If you plan on traveling with your boat, it’s best to check with your insurance agent to see where you are covered and how to go about expanding your coverage to where you will be traveling.
So, What Does Boat Insurance Cover?
- Liability for passengers
- Liability for damaged caused to or by the watercraft
- Coverage for theft of boat, motor, or equipment in boat
- Uninsured watercraft coverage covers damage to your boat and provides liability for injuries that occur on your boat due to an uninsured boater colliding with you
If you’re thinking about buying, or have recently bought, a boat or personal watercraft, please contact your Yetter insurance agent by calling (570) 296-8329, or visit http://yetterins.com/.
Yetter Insurance Agency offers comprehensive boat insurance policies to owners throughout Pike County and Wayne County, PA and Orange County, NY. Whether you’re looking for boat insurance or personal watercraft insurance, our agents can help you find affordable and comprehensive coverage through carriers like Erie Insurance, Progressive, and Foremost Insurance Group. Call us at 570-296-8329 or visit our Milford, PA office to find the right boat insurance for your needs.