A boat can be a satisfying investment, giving you countless afternoons of fun on the water. However, it is important to be aware of all the risks, such as major losses from accidents and liability claims for any injuries you or your family members might cause. A comprehensive boat insurance policy will protect your valuable asset, as well as your peace of mind. Below is a brief guide to what you should know about getting a policy.

Coverage Under Other Policies

Many boat owners assume that their other policies will cover their watercraft, but this is only true in some situations. For instance, home insurance usually reimburses you for damage or theft that occurs while the boat is stowed on your property, but may not provide enough coverage to replace it after a total loss. Your car insurance also protects the vessel if it’s damaged while towing. Any time it’s on the water, however, the boat needs its own policy.

Boat Types That Require Coverage

Most vessels need an insurance policy, including yachts, sailboats, WaveRunners, and any vehicle that reaches speeds higher than 25 mph. Canoes, rowboats, and other slow, inexpensive boats may not need coverage.

What Boat Insurance Covers

A boat insurance policy will pay the costs of repairs or damage resulting from a covered event, from extreme weather to theft and accidents. It will also protect you from liability lawsuits, covering property damage and injuries related to incidents you cause, as well as the costs of any legal expenses. Depending on the policy, it may also pay for salvaging your vessel if it sinks, which could cost tens of thousands of dollars.

As a dedicated agency with State Farm® Insurance, Tim Bryan Insurance provides unrivaled expertise and policies from one of the top carriers in the nation. Over the years, the agent has helped residents throughout Andalusia, AL, protect their most valuable investments from the unexpected. To request a quote, call the offices at (334) 222-1460 today to discuss your boat insurance needs.