Nothing is more relaxing and enjoyable than a summer day spent out on the water. However, for peace of mind, you need to purchase boat insurance to protect your investment and your passengers. You may have questions about the subject, and since Siemers Insurance Agency in Cincinnati, OH, has spent decades helping boaters select coverage, they have answered some of the most frequently asked questions below.

Frequently Asked Questions About Boat Insurance

For What Types of Watercraft Can You Buy Insurance?

Although Ohio doesn’t require it by law, most types of motorized watercraft—and sailboats—should have some amount of coverage for your own protection. For instance, you can buy boat insurance for fishing boats, personal watercraft, yachts, pontoon boats, ski boats, and commercial vessels. However, kayaks and canoes are typically considered personal property under your homeowners insurance policy.

What Does Boat Insurance Cover?

Boat coverage is similar to automobile ones. You can design a policy that protects you against:

• liability for causing property damage or bodily injury
• collision damage to your vessel
• non-collision losses due to theft, fire, flood, and vandalism
• medical treatment for injuries to yourself or your passengers
• damages caused by uninsured or underinsured boaters.

How Does Boat Coverage Work?

If you're at fault, your policy covers damages and injuries to other boaters, your boat, and your passengers up to the policy limits. If the other boater is at fault, their policy covers your losses. If they are uninsured or their policy limit is not enough to cover everything, your "uninsured boater" coverage comes into play, if you have it. Otherwise, you will have to consider a lawsuit to recover the damages.

Is Boat Coverage Required?

As mentioned above, it is not required by law in Ohio, nor do Kentucky or Indiana require it. However, if you financed the boat purchase, your lender will likely require you to insure it until the loan is repaid. Also, if you rent a slip at a marina, the management may require you to insure your boat to cover damages to their docks or other vessels.

The answers to the questions above should help you choose the right types and amounts of boat insurance for your needs. For expert guidance, contact Siemers Insurance Agency. They've been serving businesses and individuals throughout the Tri-State area for more than 60 years and specialize in commercial, auto, motorcycle, and homeowners insurance coverage. Visit their website to view a map and business hours or call (513) 469-8877 to request an insurance quote.