Between speeding accidents and natural disasters, boats are unfortunately susceptible to the unexpected while on the waterways. Should the vessel become damaged, having comprehensive boat insurance in place can help pay for repair or replacement costs. Here are answers to some of the most common questions about coverage features.

4 FAQs About Boat Insurance

What Does a Standard Policy Cover?

There are several different policy types. Property damage liability provides compensation if your boat causes damage to another person's boat or other structures, such as docks. Collision coverage extends to repair or replacement expenses caused by another person's boat or property structure. Other boat insurance policies include bodily injury liability, which pays for medical expenses, wage losses, and other related costs stemming from an accident caused by a boat owner. There is also a comprehensive policy to pay for expenses associated with theft, vandalism, and other scenarios not involving a collision.

Are Boat Owners Required to Have Coverage?

Coverage requirements can vary by state. Most states typically require boat owners to have a minimum of bodily injury insurance. Just as with vehicles, if a boat owner is financing their vessel, the lender may require them to secure coverage until the loan is paid off. In addition, some marinas will need to see proof of boat insurance before owners can dock vessels there.

Are Passengers Covered?

Most policies extend coverage to passengers on the boat if they are involved in a boating accident. A claim can be filed to pay for medical expenses, wage loss, and legal suits. Depending on the boat insurance policy, there could be exceptions to passenger coverage, such as water skiers being pulled by the vessel.

What Types of Watercraft Can Be Insured?

Besides traditional boats, there are several other types of boats that are eligible for boat insurance coverage. These include fishing boats, paddle boats, pontoons, and yachts. Some carriers may not provide coverage for smaller watercrafts such as kayaks, jet skis, or canoes.

BestRate Auto Insurance in Statesboro and Vidalia, GA, is your trusted source for a wide range of boat insurance policies from some of the nation's leading carriers. If you're prepping to become a boat owner or are wondering whether your current policy is enough, call one of the agency's representatives for friendly assistance. In Statesboro, call (912) 489-5942 or in Vidalia, (912) 403-3250 to speak to a member of the firm's bilingual team. Visit the website for extensive information on coverage options.