Boating Season is Upon Us – Make Sure You’re Protected

May 21, 2020

Summertime is upon us which means boating season is here! Owning a boat can provide years of personal enjoyment, but it also comes with needing extra insurance protection. If you are a boat owner, you face a unique set of exposures to loss. Choosing the right insurance protection is important so that you can be worry-free and enjoy your boat to the fullest!


The Basics

A small boat, such as a canoe or other un-motorized boat, is typically covered under the personal property portion of your homeowners insurance policy. However, coverage under the personal property portion of your homeowner’s insurance policy is limited.

If you own a larger, faster boat, you will need a separate boat owners insurance policy. It can help you insure your investment in the event of loss due to the following risks:

  • Sinking
  • Fire
  • Storms
  • Theft
  • Capsizing
  • Standing
  • Collison
  • Explosion


Coverage Basics

A typical boat owners insurance policy is designed to protect your boat, motor, equipment and passengers. It provides similar coverages to those you typically have for your car including the following:

  • Theft, loss or damage to the boat and attached equipment
  • Bodily injury coverage
  • Damage caused by your boat or watercraft
  • Liability coverage for your passengers, which would include family and guests
  • Medical payment coverage for injuries to occupants of the boat


Physical Damage Coverage

Physical damage coverage insures your boat, motor, boat trailer, boating equipment and other personal property against accidental loss or damages


Liability Coverage

Two principal liability coverages are included:

  1. Personal liability coverage provides protection for legal liability and pays, up to the limit of your policy, the legal obligations imposed upon you due to an accident resulting from the ownership, maintenance or use of your watercraft, including bodily injury, property damage and legal defense.
  2. Medical payments coverage pays medical expenses up to the limits in the policy, including the insured’s boating-related medical expenses from an accident arising out of the ownership, maintenance or use of the boat. Expenses include hospital, medical and ambulance.


Additional Coverage Options

For added protection, consider the following additional coverage options:

  • Reasonable Repairs: Covers repairs incurred to protect your boat from further damage.
  • Emergency Service: Pays for reasonable costs that you incur resulting from specified emergency service to your boat, motor or boat trailer.
  • Wreck Removal: Pays the reasonable expenses you incur for any attempted or actual raising, removal or destruction of the wreck of your watercraft when damage is caused by an insured loss and removal or destruction is required by law.
  • Umbrella Liability: Provides additional boat insurance coverage across the board for home, auto and watercraft.


Top Ways to Save

  • Running your boat on diesel fuel instead of unleaded or regular gasoline reduces both your risk and insurance premium
  • A boat fire can be devastating, so having approved fire extinguishers on board can be a premium saver.
  • Complete an approved safety course through the Coast Guard, U.S. Power Squadrons, Red Cross or other state administered course
  • Ask about our multi-policy discount

It’s important to us that we help protect you and your most valuable assets. Call us today for a free review of your coverages or quote so that we can help make sure your fun summer toy is protected properly!