by Kami Jones, AU, AINS - Wexford Insurance - Greenwood, Indiana
For some, going boating is the highlight of the summer. Boats are a large investment for a family, that’s why you should make sure your boat is properly insured.
Some people might think that a boat is fully insured under their auto or homeowners’ policies, however, a boat is woefully underinsured on those policies. Most homeowners’ policies only cover a boat for $1,000 which is probably only going to cover a very small portion of the fully amount needed to repair or replace the boat.
Getting a separate boat insurance policy is the best way to protect yourself from damage or theft to your boat and get you back on the water as soon as possible.
Boat insurance typically covers the following:
Property: Covers the boat itself if it is damaged or stolen either in the water or on land
Liability: If you cause an accident that damages someone else’s personal property, the liability coverage helps to pay expenses you might incur
Medical Payments: Helps to pay medical expenses if a person is injured from and accident on your boat
Uninsured Watercraft: Provides coverage if another boat injures someone on your boat and the other boat doesn’t have insurance to cover the costs. This is similar to uninsured auto coverage
There are additional coverages you can add to a boat policy depending on your specific needs like boat trailer, boat accessories, special equipment, and towing insurance. Additionally, you could save money by bundling your boat insurance with your home and auto insurance.
What type of Boats do we help find Coverage for?
Sport Boats
Pontoon Boats
Jet Skis
Cruisers
Yachts
Sailboats
Bass/Fishing Boats
Houseboats
Any other type of water vessel
Free Assistance: Wexford Insurance works with top insurance companies to provide you with affordable and quality insurance. We will never sell your information and our services are free of charge. Give us a call today at (317) 910-9295.