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What Does Boat Insurance Cover?

Purchasing a boat can be expensive, and the only way to protect this investment is by getting boat insurance coverage. We'll talk about what you need to know about boat insurance in this article and how to get started.

What's Included in the Coverage?

Below are the basics of boat insurance:

Property Coverage

Accidental loss or damage to the boat can cover all of the components required to operate the boat. If it gets stolen or when it sinks, the insurance company can either give you the actual cash value of your boat at the time of the incident or reimburse you with the amount of money it takes to restore your boat fully. The insurance company may also replace it with a similar boat model or the same boat. 

Medical Payments Coverage

When there's a boating accident, and you or your passengers get injured, this coverage can cover your medical bills. It can pay for the ambulance, first-aid treatment, hospital and other medical expenses. Ensure that you know what is covered by this policy — if it's per person or accident basis. 

Liability Coverage

Also refers to Protection & Indemnity, this policy covers your legal obligations to those involved in the accident or damage. For example, if your boat damages another boat or accidentally injures someone, the liability can cover the damages. It can also cover the legal fees should you get sued over a problem caused by your boat. 

Uninsured Watercraft Coverage

When you're out, and an uninsured boat accidentally strikes your boat and injures you, this insurance coverage can cover the medical expenses. 

In addition to what's covered in your boat insurance, you also have the option to include add-ons. Talk to us to help you make an informed decision on what insurance coverage to acquire for your boat. 

When getting boat insurance, please make sure that you know what's covered and what's not to avoid unnecessary expenses. 

Overuse, mold, corrosion, defects, and faulty boat design are not covered under your boat insurance. As the owner, it's your responsibility to properly maintain your boat because the damage caused by wear & tear is often not included. If you're not sure what's covered, please don't hesitate to reach out to us for assistance. 

How to Get Boat Insurance

Boat insurance costs can vary — the exact amount depends on several factors such as the market value of your boat, engine type, boat age and length, past claims, and the boating experience of the owner. 

While it's not required to get boat insurance, we highly recommend that you consider this because boating accidents can cost you thousands of dollars in repairs or medical expenses. And a stolen boat already means a lost investment. You can prevent these issues by getting boat insurance. 

Contact Highline Risk Solutions

Do you have a boat? We can talk to you about the different boat insurance to help you protect your investment and yourself. Our insurance agents will take the time to understand your needs and recommend the best solutions. Get in touch with us today.

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