Boat Insurance Available
Buying a boat comes with numerous questions, but some people forget to ask about boat insurance. They get so caught up in wondering what the boat can do, how it works, what features it has or could have, and what they can do with it. Some might have some questions about boat insurance and what it entails, but most people don’t think about that until it’s time to find an insurance company and get their boat covered. Before you begin boat shopping, it’s a good idea to get to know what insurance options you have. This allows you to see what the cost might be based on the boat you’re looking at purchasing, the coverage you want, and the premiums you’ll pay. Knowing how this portion of boat ownership affects your budget prior to shopping makes boat shopping just a little easier.
Boaters are liable for many things, including their fault in any accident. This accident isn’t limited to being in the water, either. Boats can cause accidents on the road, too. If you’re trailering your boat to the ramp to launch for a day of fun, you might rear-end someone on the road and cause an accident. This isn’t going to be a boat insurance issue but a car insurance issue. If you fail to properly secure your boat to your trailer or your trailer to your vehicle and it slides off and causes an accident while driving, it’s a Youi boat insurance problem. If you hit a dock, another boat, or someone’s property while on the water, it’s your fault. Liability insurance helps you pay for the damage you cause to any property or person who is not on your boat but injured as a result of your negligence.
If the owner of the property you damage sues you following the accident, this type of insurance coverage saves you from becoming personally liable for the debts incurred. This saves your home, your finances, and your future. Now is a good time to buy this coverage for your own personal protection.
Your boat is your property, and anything can happen at any time. Someone could run a red light and slam into your boat while you’re trailering it home and cause damage. Someone might steal your boat. Anything can happen, which is why you must have boat insurance with property coverage. If any of those things happens to your boat, your boat insurance property coverage policy pays you to either repair or replace the boat. It’s coverage most families can’t afford not to have.
Uninsured Watercraft Coverage
If you’re on the boat and another boat hits you, they are responsible for the accident. Their insurance will handle the cost of any boat repairs and injuries to anyone on your craft. Unfortunately, there are instances in which a boat without insurance hits you. If the person who owns the boat can’t afford the repairs to your boat or the medical bills associated with any injuries sustained as a result of the crash, you suffer the consequences. Your insurance will handle the payments, repairs, replacements, and any other expenses incurred because of the accident if you have uninsured watercraft coverage. This boat insurance is designed to protect boat owners from those who don’t have insurance.
Boat insurance is designed to cover numerous financial aspects of any accident. While the repair or replacement of a boat is typically the most expensive aspect of any accident, there are a few exceptions to the rule. There are sometimes injuries associated with accidents. Those injuries might be minor enough boaters only need to see the doctor to be sure there aren’t any major injuries they can’t see, but sometimes they’re more severe. Hospital bills, doctor fees, deductibles, and medications are just the beginning of some medical bills following a boating accident.
If someone on your boat is injured to the point they require surgery, rehabilitation, they miss work, they lose their job, become disabled, or they require therapy for emotional distress following an accident, their bills pile up. Medical coverage allows your insurance company to pay for these bills so you and your passengers are sent into medical bankruptcy as a result of the accident. This is a boat insurance policy you want to pay for when you buy a boat.
Boat insurance is expensive for some, but it’s worth the cost. If you want to see if there’s a way to make it a little more affordable without sacrificing coverage, you can always ask your insurance agent for discounts. If you want to go with the insurance company who covers your home and car, you can ask to bundle the policy and receive the package discount. Anyone can take boat safety courses and receive certification that’s worth a discount.
You can buy a boat and find a way to make insurance a bit more affordable. It’s possible for most every boat owner, and it’s available if you simply ask the insurance agent to apply it to your account. As long as you have insurance for your boat, you can rest easy on the water.