If you've bought a new boat and are anxious to take it out on the water, it's important to first protect it—and yourself—against misfortune with appropriate boat insurance coverage. To explain why, Goggans Insurance in Scottsboro, AL, discusses some of the most important reasons to insure your watercraft. The following information should help you understand your options and explain what's available.

Why Do You Need Boat Insurance?

1. Your Bank or Marina May Require It

Unlike auto insurance, boat coverage is not required by state law in Alabama. However, you may need it for other reasons. If you have financed the purchase, your lender may require you to insure it to protect their investment. Also, to protect their docks and other boats, your marina may require proof of insurance before they'll lease you a slip.

2. To Guard Against Liability

Liability coverage pays for repairs and medical treatment if you are at fault in an accident that injures someone or damages their property. It also pays for court costs, legal fees, and judgment amounts if you're sued over the incident.

3. To Protect Your Investment

Collision coverage and comprehensive coverage pay to repair or replace your boat if you suffer a loss. Collision coverage pays for collision damages, while comprehensive coverage pays for damages arising due to storms, fire, flooding, vandalism, and even theft.

4. To Protect Yourself & Passengers

Medical payments coverage pays for hospital, ambulance, and doctor bills if you or a passenger is injured on the boat. This is particularly important if you have only limited health care coverage.

5. To Guard Against Uninsured Boaters

Even if you're careful, other boaters on the water may not be. If an at-fault boater is uninsured or has policy limits that do not cover your costs, you might be stuck paying for the difference. Uninsured and underinsured boater coverage  will keep you from going out-of-pocket in such a situation.

As you can see, there are a number of important reasons you might need boat insurance. To discuss your coverage options, contact Goggans Insurance, the most trusted and experienced sellers of boat & RV insurance in Scottsboro, AL. They've been serving businesses and individuals throughout Jackson County for more than 30 years and offer the best products and lowest rates available. Visit their website to request a quote or call (256) 574-3440 to speak with a friendly, knowledgeable insurance agent.