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Boat Insurance

Purchasing Boat Insurance

When most people buy a boat, they have visions of enjoying incredible times on the water. But even if it’s a fun time, you have to consider that your boat can have an accident, be vandalized or stolen. You could suffer a substantial financial loss. But boat insurance is an excellent way to protect against risks that affect boat owners.

You have a few options when it comes to coverage. Liability may pay another person for damages that you cause with your boat. This may include property damage, medical bills, and lost wages. Comprehensive may pay for expenses if your boat is damaged. And personal injury may pay medical expenses for anyone injured on your boat. The policy will pay benefits up to your coverage limits. That means you have to pay the remainder if you don’t have enough coverage.

You can also add tow coverage in the event your boat is stranded on the water. This add-on might also cover the trailer you use to transport the boat. Additional liability may be included as well, in case you hurt someone while using the trailer.

Boat insurance might be mandatory in our state. If so, then you will be required to purchase and maintain a minimum amount of coverage. Take that into account when purchasing coverage for your boat. You want to make sure you have sufficient coverage.