Boat Insurance General Information

Getting boat insurance is something that a lot of people never consider. When you think about riding your new boat around the lake, the last thing that crosses your mind is insurance. However, in order to properly protect yourself and your guests, it is definitely needed.

Basics

Boat insurance works much the same way that car insurance does. You can acquire with any insurance provider. Big companies like State Farm, Farmers, and Allstate provide boat insurance just like they provide everything else. You can shop around for boat insurance and find the best deal, much the same way you would with car insurance.

Boat Value

The most basic thing that your boat insurance can cover is the value of the boat itself. If your boat were to be totaled, you can decide ahead of time what the insurance company would pay. Both parties have to agree to this figure before an agreement can be reached. With this policy, you can include the motor and the hull, the trailer and anything else that is included in the boat value.

Personal Property

Another common item that is covered by boat insurance is personal property. Think about all of the things that you might have with you on your boat. Some people have stereo systems and televisions on their boat as well. There are a lot of things that you can take with you and all of them can be covered with a good boat insurance policy.

Uninsured Boaters

One of the big dangers in the water is the person behind the wheel of the other boat. While you can control how you drive and your safety level, you cannot control what other people do. If another boater were to collide with your boat, their liability coverage would take care of your damage. However, if they do not have insurance, your boat insurance will take care of the bill. This can save you a lot of money in an unfortunate situation.

Personal Injury

Boating can be a dangerous act if careful precautions are not taken. During a boating session, you could become injured. In this case, it is nice to have boat insurance. Your insurance policy will cover any medical bills associated with an injury on your boat. If you are going to entertain on your boat, this is a must have because it protects you and your interests.

Liability

Being out in the water requires that you are liable for your actions. If you accidentally run into someone, you are going to be responsible for the bill. If you have boat insurance, you can get help with any bills you might incur.

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