How Boat Insurance Protects You
If you have a nice boat, such as a yacht, sailboat, jet board, or personal watercraft, you will want to carry boat insurance. However, you may not need to carry boat insurance on a slow and inexpensive boat. Boat insurance covers a wide range of different types of damage and situations.
First, when you get insurance, it will cover damage to your boat. It is not going to cover the normal wear and tear that is expected to occur over time. Nor will it cover damage from things such as insects, zebra mussels, and sharks. It will not cover defective machinery either.
Your boat insurance will cause damage to your boat that is caused by things such as a collision with another boat or object. It will cover damage that is caused by vandalism or theft. It will cover damage caused by natural events such as fire and lightning. It will also cover damage to equipment that is permanently attached to your boat, such as the anchor.
Bodily Injury Liability
Second, if someone is injured while on your boat, your insurance will cover the bills related to the damage. For example, they will pay medical bills and things such as lost wages due to an injury on your boat.
Property Damage Liability
Third, sometimes when you are driving your boat, you may cause an accident. If you damage someone else's property, such as running into another boat, or if you run into a dock or something else like that, your insurance will cover the damage to that property. You will not have to pay for the damage to other's property that your boat caused out of your own pocket with boat insurance.
Guest Passenger Liability
Fourth, it is common when out on the water to allow someone else to take the steering wheel. If you allow someone else to drive your boat and that person causes an accident or other damage, the guest passenger liability portion of your coverage will step in.
Finally, if you or any of your passengers are ever hurt when you are out on the water and in your boat, your insurance will cover any medical expenses related to your injuries.
If you have a nice boat that you take out on the water frequently and take passengers out with you, you will want to purchase insurance for your boat. Boat insurance protects you against damages to your boat and situations you can get into with the boat that will put you in a position to be liable for damages.