Randleman, North Carolina
233 S Main St.
Randleman, NC 27317
(336) 498-7606

Do You Really Need Boat Insurance? January 15, 2019

Randleman, Randolph
Do You Really Need Boat Insurance?, Randleman, North Carolina

Boat insurance covers you against financial loss due to unfortunate events such as collisions on the water with other boats and docks. Boat liability insurance also pays for legal fees that might arise out of such a situation. However, despite the advantages of these protections, many people ask themselves if they really need boat insurance because it’s not required by law in most states. Below are some of the key reasons you should purchase a policy regardless of the legal requirement.

Why Boat Insurance Is Necessary

Your Lender Requires It

If you financed the purchase of your boat and have an outstanding loan balance, your lender almost certainly requires that you maintain full coverage to protect their interests. If you try to drop coverage, they'll simply replace it with coverage that doesn't protect you at all and then bill you for it.

Your Marina Requires It

Most marinas require boats that dock there to maintain at least a minimum amount of liability insurance. This protects them financially if you should damage their dock, neighboring boats, or other property.

It Protects You Against Liability

Bat insurance in Randleman, NCBoat coverage contains a liability insurance arm that pays out if you injure someone or damage their property. This could protect you against catastrophic medical and/or legal fees if you cause someone serious injuries.

It Pays if Your Boat Is Damaged

Most boat insurance policies cover a wide variety of risks that could befall your boat. For instance, they pay out for collisions, lightning strikes, storms, fires, vandalism, and theft. If your boat is on the brunt end of a calamity, you won't have to shoulder the financial loss if you have enough insurance.

It Covers Injured Passengers

While liability coverage pays for injuries to other people, it doesn't cover injuries to you or your passengers. However, boat medical payment coverage does. If you or a member of your party is injured, your policy will cover some or all of the medical treatment costs regardless of who is at fault.


To discuss your boat coverage options, contact MP Davis Insurance Agency in Randleman, NC. They have been helping clients throughout the Piedmont Triad area design the right policies for more than 40 years. In addition to boat property and liability insurance, they also specialize in business, home, auto, and motorcycle insurance. Visit their website to message them online or call (336) 498-7606 to request an insurance quote.

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