In Ohio, boat insurance is not required by law. Moreover, when you're towing your boat, it's covered in part by your auto insurance, and while it's sitting in your yard, it's under the protection of your homeowners insurance policy. You may wonder then, "Do I really need boat insurance?" The answer is a resounding, "Yes!" In the following sections, Albers Insurance Agency in Cincinnati, OH, explains why.

Why Do You Need Boat Insurance?

Auto Insurance Only Covers Boat Liability

Your auto insurance policy covers damages and injuries to others caused by your boat. For instance, should it come loose from its tow hitch and strike another vehicle, but it almost certainly doesn't cover damages to the boat itself. For that, you need boat insurance.

Homeowners Insurance Coverage Is Insufficient

Again, your homeowners policy covers liability if someone is injured on your boat, but it does not cover damages on the water. If your vessel is vandalized in or stolen from your yard, you may be able to recover some amount of the loss from your homeowners insurance policy, but it's often limited and could be much less than the value of the theft of damages. To protect your boat's full value against loss, you need full boat insurance coverage.

Your Bank or Marina May Require It

If you dock your boat in a marina, you may be required to purchase boat liability coverage to guard against damage to the pier or other watercraft. Moreover, if you finance a boat purchase through a bank, the lender will almost certainly require it to be fully insured—at least until the loan is repaid—to protect their investment.

If you've invested a considerable amount of time, energy, and money in your boat, it simply makes good financial sense to protect it with a high-quality boat insurance policy. For expert guidance on the coverage you need, contact Albers Insurance Agency in Cincinnati, OH, for help. They've been in business for nearly 70 years, serving residents and businesses throughout the Tri-State area. Visit their Facebook page to view office hours and directions, or call (513) 891-3304 to discuss your options with a friendly professional.