Insure Smooth Sailing
Private Insurance Plans Keep You Afloat
Summer’s in full swing, and we know what that means: lots of people spend time out on the open water relaxing and catching a little sun. While being out on a boat is relaxing, insuring one isn’t always as simple as it may seem.
Boatowners coverage is a great way to keep your boat, motor, equipment and passengers safe and protected. Similar to insurance for your car, coverage basics include:
- Theft, loss or damage to the boat and equipment
- Bodily injury coverage
- Damage caused by your boat or watercraft
- Liability for your passengers
- Medical payments for any boat occupant injuries
Physical Damage – Physical damage coverage insures your boat, motor, boat trailer, boat equipment and other personal property against accidental loss or damages. Physical damage also helps safeguard your boat equipment, such as anchors, oars, fuel tanks, life jackets, dinghies, tools and canopies.
Liability: Two principal liability coverages are included:
- Personal Liability – A boatowners insurance policy 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.
- Medical Payments – This 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, ambulance, etc.
Owning a boat and sometimes the second home that goes with it can get a little pricey. So, here are a few tips to help you save on your boatowner’s coverage:
- Run your boat on diesel fuel instead of gas
- Keep an approved fire extinguisher on board
- Complete an approved safety course that makes you a boat safety expert
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