Toys Policies

Boat Insurance

Boat insurance provides financial assistance to boat owners who experience loss with their boat. It could be from an accident or some other destructive force. Despite its name, the policy actually applies to more than boats. Boat insurance covers many types of watercraft, including yachts, fishing boats, pontoon boats and jet skies. Kayaks and canoes are not included because they are not high-powered. This insurance is for owners of boats or other watercraft who want coverage for their vehicle.

The Specifics of How it Works

Boat insurance is similar to any type of insurance. If you have boat insurance, and experience loss or damage, then the insurance will cover repairs. In some cases, it might replace the vehicle – depending on the type of coverage you have.

It is important to understand what the policy covers. In most cases, the policy covers things like bodily injury or collisions, but might not include towing or replacement of equipment.

Types of Coverage for Watercraft

Most insurance companies offer basic coverage for boats. Most coverage includes bodily harm, property damage liability, uninsured boaters and collision, comprehensive and medical pay. An insurance company might also offer total loss replacement, replacement of equipment, emergency towing and wreckage removal.

Benefits

Boating is an expensive pastime, and if you ever make a claim, this policy could save you thousands of dollars. Another benefit is the peace of mind of knowing if anything bad happens to your boat, yourself or your passengers, then the insurance will help pay any costs. Most importantly, having insurance means you are following the law. Some states, marinas and lenders require boat owners to have insurance.