So, you've purchased a new boat, and now you're considering whether or not to pay the extra monthly amount to have it insured. Unlike auto and motorcycle insurance, boat coverage is not mandatory in Montana, so maybe you're considering rolling the dice and trusting chance. However, Grachek Insurance in Kalispell, MT, strongly encourages you to reconsider and have your new purchase insured. Below, they explain what boat and watercraft insurance is, what it covers, and why you need it.

What Is Boat & Watercraft Insurance?

Boat and watercraft insurance covers sailboats, yachts, pontoon boats, fishing boats, and leisure craft, but does not usually apply to kayaks, canoes, or jet skis. Like auto policies, boat and watercraft insurance combines multiple types of coverage. It covers damage caused by collisions, storms, fires, and other events. It also has a clause for property damage and personal injury liability, which pays for repairs and medical treatment if you injure someone or damage their property. It also pays for any legal costs arising out of the incident, such as lawyer fees and judgment or settlement amounts, and protects you if an uninsured boater injures you or damages your vessel.

Why Do You Need Boat & Watercraft Insurance?

If you invest a considerable amount of money in a boat or leisure craft, it makes sense to protect that investment with an affordable boat insurance policy. It also gives you peace of mind that if something happens while you're out on the water, you won't be hit with a crushing financial loss. Also, if you finance the purchase of your boat, the lender will almost certainly require you to insure it to protect their interests. Lastly, if you dock your boat at a marina, you may have to purchase insurance to protect other people who use the same dock. 

To speak with an experienced agent about boat and watercraft insurance, contact the professionals at Grachek Insurance in Kalispell. They've been serving the Flathead Valley and surrounding areas for more than 30 years, and they also specialize in auto, life, business, and homeowners insurance. Call them at (406) 755-4000 to discuss your coverage options, or visit their website to request a quote.