You have taken boater safety courses, spent hours behind the wheel of a friend’s watercraft and taken every possible precaution to ensure the safety of you and your passengers while on the open water. While you may have dramatically decreased your risk of encountering a problem, plenty of things can still go wrong for boat owners – many of them out of your control. Because you can’t control everything, you’ll want to be sure you are you covered against the unexpected. Is your homeowners insurance enough to cover the bill? Most likely not, continue reading to find out more about boat insurance and why it may be one of the most overlooked insurance exposures.
Too Many Boat-Related Losses Occur Every Year
Far too many boaters have experienced first-hand, the damaging financial effects of unexpected accidents and disasters. According to the Insurance Information Institute, there were 11.8 million registered watercraft in the United States in 2014. In that same year, 4,064 accidents were reported to the U.S. Coast Guard, and that doesn’t account for the many incidents that went unreported. Theft is an even more common problem for boat owners, with 5,537 watercraft stolen during 2013 alone. Unfortunately, most stolen boats are never recovered, and those that are may require extensive repair and replacement parts.
Whether you find yourself involved in a boating accident, or walk outside to find your boat missing from your yard or the dock, boat insurance can help you recover from your loss. Since most homeowners insurance policies offer only limited coverage for sailboats, non-motorized watercraft and boats with a 25-HP motor or less, most boat owners need to purchase a separate boat insurance policy.
Coverage is available to pay for bodily injury, property damage liability, collision damage, and comprehensive protection in case of other unexpected events, such as fire, theft or flood. You can even find protection for valuables and expensive after-market items, such as computerized fishing equipment, water skis, tubes, kneeboards and more. Whether your boat runs aground, you strike a submerged object, lightning strikes, or a kid spray paints the side of your vessel, you can have peace of mind in knowing you are fully covered.
Boat Insurance can be Affordable
Finding affordable boat insurance is easy as talking to an independent insurance agent. In many cases, we help clients find better coverage while at the same time, reducing their premiums. There are many boat insurance discounts available for policy-holders who take boater safety courses or who bundle their boat insurance with a homeowners insurance policy.
For more information about boat insurance or to get your free, no-obligation quote, contact our office or complete the simple, no-hassle form right here on our website.
Enjoy the rest of your summer in Wisconsin, and be safe.
