You finally bought that boat you’ve always dreamed of. After making such a milestone investment, it’s critical that you take steps to protect your new watercraft. To do that, you’ll need to find a good watercraft policy to keep your prized possession safe, no matter what.
What Are the Benefits of Watercraft Insurance?
Watercraft insurance functions just as car insurance do for your automobile — it keeps you safe from liability and helps to cover expenses when the unexpected happens to your boat. Policies differ according to the variety of craft and plan that you choose, but can include:
- Coverage for damages or loss due to circumstances out of your control (theft, natural disasters, explosions, etc.)
- Coverage for medical costs associated with boating accidents
- Protection against liability for damage to property or people while boating
- Coverage for the removal of wreckage and towing
- Compensation for fuel spills
Do I Really Need a Watercraft Policy?
Technically speaking, most states don’t require you to insure your boat. However, some marinas will ask that you have boat insurance before you can dock in their ports.
While boat insurance may not always be required, it is definitely a wise choice. Insuring your watercraft protects your investment, keeps you safe, and gives you peace of mind while you enjoy the water.