Boat insurance works similar to motorcycle, car, and even RV insurance. It’s designed to protect you, your boat, and others. In other words, it’s designed to provide liability coverage as well as coverage that can be used to repair or replace your boat, property, or someone else’s boat or property. Fundamentally, it operates like car insurance and other insurance designed to cover vehicles and other moving machinery. Land Home Insurance Services of Concord, CA is here to educate consumers on the benefits of boat insurance.
Boat Insurance Defined
Boat insurance is designed to cover your personal watercraft. This may include a motorboat, sailboat, or any other type of watercraft. Boat coverage typically covers theft, damage from an accident, and even some natural disasters, like lightning and fire, that may cause damage to your watercraft. Also, boat insurance can also cover parts of your watercraft which may include the hull, fittings, permanently attached equipment, machinery, and furnishings. These coverage types fall under three, sometimes four, common categories when it comes to insurance for vehicles and other motor-powered machines.
- Property Coverage
- Liability Coverage
- Medical Coverage
- Uninsured Coverage
Boat property insurance coverage
This coverage is designed to pay for the repair or the replacement of your boat if it’s damaged. This coverage provides protection for your boat on both land and water. Typically, this type of coverage allows you to choose between actual cash value coverage or agreed amount coverage.
Liability coverage is designed to cover damage caused by your boat to another person or their property. This type of coverage works like liability auto insurance or any type of liability insurance you may purchase.
Medical coverage is designed to cover hospital bills and other medical bills you or your passengers may incur if you’re injured on your boat. X-rays, medicine, or medical bills would fall under this type of coverage.
Uninsured Watercraft Coverage
It happens. It’s possible that you may sustain damage to your boat from an uninsured watercraft owner. Uninsured watercraft insurance covers expenses associated with damage to your boat from uninsured watercraft owners. However, like most insurance, there are a wide variety of different coverage options available to you. Our team at Land Home Insurance Services is happy to answer questions about coverage options to help you find the best coverage for your unique situation.