There’s nothing quite like gathering your friends for an evening on the water or taking your family out on a fishing trip. Owning a boat can be a great investment, but it does come with substantial risks, including serious storms, theft, or liability suits related to accidents you might cause. Fortunately, boat insurance offers an umbrella of protection that protects the value of your watercraft, along with all your other assets.

A Brief Guide to Boat Insurance

Coverage Out on the Water

Your homeowner’s insurance might cover your boat while it’s parked on your property, and auto insurance protects watercraft while you’re towing it with your vehicle. However, some of the most serious accidents happen when your boat is on the water, which is where boat insurance comes in. Your policy will pay for any damage your boat suffers in a covered accident, as well as losses of your upgrades and equipment.

Liability Protection

Every boat owner tries to be as careful as possible, but sometimes accidents happen. When this happens, losses can quickly exceed hundreds of thousands of dollars, especially if someone is injured. Most boat insurance policies provide liability coverage that pays for property damage and injuries in accidents you cause, as well as the legal costs of defending yourself.

Additional Coverage You Might Need

Some consequences of accidents aren’t covered by the standard policy, so talk to your agent about any additional coverage you might need. For instance, many companies offer additional riders to pay for retrieval services if your boat needs to be salvaged, or additional coverage for your personal property.

Whether you have a yacht or a small fishing boat, High Rock Insurance Agency in Lexington, KY has the expertise to protect your property and loved ones from the unexpected. This independent agency works with some of the top boat insurance providers in the are, giving them a wide range of high-quality policies to choose from. Visit their website for more about boat insurance, follow their Facebook for tips and advice, and call (336) 236-9022 now to make an appointment and request a quote.