It’s wise to get your watercraft insured whether you take your boat on relaxing sailing trips, go deep-sea fishing, or take your jet skis on weekend adventures. You should purchase boat insurance to ensure that you and your watercraft are protected in accidents, incidents, theft, and other possible scenarios.
However, before obtaining your insurance, you need to ensure that you’re getting the coverage you need for your watercraft. Here are a few questions to ask before purchasing boat insurance to determine which premium is best for you.
What Are the Standard Coverages?
Most insurance companies that offer boat insurance will cover several things. These include medical payments for you and your passengers, liability insurance to cover medical care, and property damages for boaters if you’re at fault for an incident on the water. Insurance companies also offer uninsured coverages that help pay for medical treatment, lost wages, and additional costs if you’re hit by an uninsured boat.
Are There Discounts Available?
Insurance carriers often reward their customers for bundling insurance policies or taking an approved safe boating course. Another possible discount opportunity is to purchase a boat powered by diesel engines because they’re considered less hazardous to the environment.
What Is My Coastline Coverage Limit?
Your watercraft insurance policy may have restrictions on boating in the open ocean, limiting your coverage area to 65 miles of the US and Canadian coasts. It’s imperative to ask your agent what your coastline limits are so you can stay within those boundaries. If an accident or incident occurs outside the coverage area, your policy is not valid and will not help you.
Does My Policy Include Coverage for Emergencies?
Some insurance policies don’t automatically include coverage for emergency assistance if an accident or incident results in you being towed back to shore. If you feel more comfortable having emergency coverage, ask your insurance agent if they provide coverage for emergencies.
Is There a Way to Protect My Gear?
Quite a few insurance carriers will protect your fishing gear and equipment. The add-on is called “personal effects coverage” and will safeguard your fishing gear, water skis, deck chairs, and physical damages that could ruin your personal effects and unattached equipment. It would help to estimate how much your items are worth to purchase this coverage.
Worst-Case Scenario: Who Pays?
The most important question to ask before purchasing boat insurance is, “In the worst-case scenario, if your boat sinks or is damaged, who will pay?” Some insurance policies will cover the cost of fuel spillage, wreck removal, and raising a sunken watercraft.
Before you sail the beautiful ocean or dock by the lake, talk to your insurance agent and ask them questions about your coverages before purchasing insurance. Before sealing the deal, it’s essential to know what the fine print entails.