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Don’t Rock the Boat: Stay on Top of Your Boat Insurance
As the weather gets warmer and the desire to cool off intensifies, many people make their way to the beach with their boats in tow. If you’re ready to do the same, it’s important to give your boat and yourself protection to enjoy your time with no worries in mind. So, what should you keep in mind when purchasing boat insurance? At Shepard Walton King, we have the information you need.
What is Boat Insurance?
Boat insurance protects most motorized watercraft – fishing boats, pontoon boats, paddle boats, yachts – and covers them when lost or damaged. Keep in mind that this insurance does not protect kayaks, cover canoes and personal watercrafts.
What Does it Cover?
Boat insurance can vary but it regularly includes:
- Collision Damage – includes repair or replacement but may not include wreckage-cleanup costs.
- Property Damage Liability – can cover damage that may occur to other watercraft or structures.
- Comprehensive – compensation for vandalized, stolen watercraft or boats damaged in non-collision incidents.
It’s important to understand that additional coverage options for medical payments, fishing equipment and oil spills can also be available.
Is Boat Insurance Required?
You may be wondering if boat insurance is required by law, but this depends on several things. The need for liability insurance varies by state. You may additionally need boat insurance to dock your vessel at marinas that require it. If you decide to take out a loan for a boat, your lender will likely require you to purchase insurance.
Are Passengers Covered?
The liability section of your boat insurance policy can cover passengers in case of an accident. Keep in mind that this coverage may not protect water skiers that are pulled by your boat depending on the policy you choose.
Don’t let your boat’s maiden voyage turn into a complete disaster. Keep it protected and take to the seas with the peace of mind you need. Contact the insurance agents of Shepard Walton King today to get the plan that best fits your needs.