If you own a boat or any other type of watercraft you need to insure it like you would your car or truck. This will protect your investment if you get in an accident, if your boat is damaged by weather conditions, or if it is stolen. Boat insurance covers anything from fishing and speed boats to yachts and sailboats. It also covers personal watercraft like Jet Skis, Sea-Doos and WaveRunners.

It’s vital to make sure you have a comprehensive insurance policy that not only covers for the basics, but also for specialized coverage options like on-water towing and total loss replacement. Your insurance agency will help you determine your needs and which coverage would be best for you and your budget.

Coverage for boat and personal water craft includes:

  • Physical Damage
  • Personal Property
  • Medical Bills
  • Personal Liability
  • Trailer Coverage
  • Towing and Assistance
  • Uninsured Watercraft

You can always add on to your basic overage with options like:

  • Diminishing Deductible
  • Hurricane Haul-Out
  • Dinghy coverage
  • Depreciation Deferral
  • Total Loss Replacement Cost
  • Fishing Tournament Fee reimbursement
  • Additional Pollution Liability
  • Pet coverage
  • Loss forgiveness
  • Boat lifts

Don’t assume your homeowner’s policy covers any accident or damage to your boat. While you will be covered for personal effects lost on your boat or taken from your boat, as well as medical payments in the event you are injured, it will not cover the actual craft.

For this, you will need a separate policy. Your homeowner’s policy will most likely just cover about $1500, and there are restrictions that are limited to the size and horsepower of the boat you want to insure. So, if you wish to purchase higher coverage that will actually be useful in the event of an accident or damage, speak with your insurance agent to sign up for special boat and water craft insurance. Research multi-policy discounts which offers additional coverage to the hull and related equipment, along with towing, boat trailers, fuel spill liability, and uninsured boaters.

Payments on boat insurance are made monthly, quarterly or annually -- basically at the same frequency as you pay on your motorcycle or motor vehicle. Boat insurance isn’t something you can skimp on. The risk is just as real in a boat as it is in a car, when it comes to crashes, vandalism, sinking, accidents, and mischief with a malicious intent. Ask your insurance agent what is covered when it comes to physical damage, such as the hull, machinery, trailer,  furnishings, sails, or related equipment.

Purchasing boat and water craft insurance is a wise idea. Don’t leave yourself vulnerable to the high cost of medical bills, physical damages and boat replacement.


Contact Bearce Insurance for Boat Insurance

Looking to buy a boat or already have one but want to check coverage? Just contact us locally at 508-586-3400 or toll-free at 800-498-9900, or fill out our form for an online quote.