Great weather presents a wonderful opportunity to enjoy the outdoors and if you’re lucky enough to be able to enjoy the open sea or a serene river on your own watercraft, all the better. Whether you own a speed boat, jet ski, kayak, canoe, sailboat, or commercial fishing boat, insuring your watercraft is an important step to take before hitting the water.
Watercraft or Boat insurance is similar to that of a car and can protect you in the same ways; however, since boats have different features than cars, you’ll want to make sure your Watercraft insurance policy covers you the right way.
Is It Necessary That My Watercraft Is Insured?
Here are a few reasons why you’ll need Watercraft insurance:
Most, if not all ports require that your boat is insured in order to dock.
A fire could occur resulting in major damage, including the loss of your vessel. If your boat were salvageable, the aftermath cleanup would be another unexpected costly factor to deal with.
If your boat were to sink, you’d have to deal with having the wreckage removed. Wreckage removal is expensive as it requires the assistance of professional divers.
You can obtain the following basic coverages for your boat:
Liability: If you’re involved in an accident, it’s likely it was with another boat or person. If you’re found at fault, then this is where Liability Insurance would kick in to prevent a financially devastating situation.
Physical Damage: This covers the boat, motor, and trailer and can help keep you protected when you’re towing the boat, on the water driving the boat, or if your boat is docked.
Medical Payments: This can cover any eligible medical expenses if you suffer an injury while out on the water.
Theft: Keeps you protected in the event that your watercraft is stolen.
Owning and operating any watercraft carries a big responsibility and it’s very important to secure the appropriate coverage. Let our News Insurance agents help you determine the best options for you and the use of your vessel.
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