Boat insurance covers you in the event of a loss or damage to your boat. It will cover most watercraft boats with motors like fishing boats, pontoon boats, paddle boats, and yachts. It usually does not cover personal watercrafts, canoes, or kayaks.
*Look to find limited coverage under your homeowners policy for your small watercraft or for a special endorsement.
Boat insurance covers the following:
• Collision Damage – includes replacing or repairing your boat. Check with the Hargis Family Agency to see if your policy includes clean-up of wreckage .
• Property damage liability – Covers damage you may have caused to someone else’s boat, dock, or property.
• Bodily Injury Liability – This covers injury you might cause someone while using your boat, including medical bills, lost income, pain and suffering, and legal expenses.
• Comprehensive – This provides compensation if your boat is stolen, damaged, or vandalized in an incident other than collision. Personal possessions carried on the boat may or not be covered depending on your policy.
• Additional Coverage options – coverage for fishing equipment, oil spills, medical payments, and for damages from uninsured or under-insured boaters.
• The cost of boat insurance depends on the State you live in, the type, size, and age of the boat you wish to insure, the size of the motor and how it is powered, and where you are using it (Inland waters or open seas).