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Boat insurance is a must to ensure you, your passengers, and your vessel are protected. Much like an auto insurance policy, some elements are — and are not — covered, depending on how much and what type of coverage you buy. If it’s your first time shopping for a policy, here are a few elements to keep in mind to ensure you choose a plan that suits your needs.

Boat Coverage Protects Your Property

Property coverage protects your boat both in and out of the water. It insures against common risks such as collision, sinking, or storms. This coverage can help you replace the boat in the event of a total loss, or it can pay for repairs when necessary. Property insurance can also be useful in the event of theft or vandalism. However, speak to your insurance agent about whether your policy covers the boat’s replacement cost or actual cash value. Replacement cost is the cost to replace the vessel with the same or a similar model. Actual cash value will reimburse you for the original price of the boat, minus depreciation. 

It Also Protects You

boat insuranceThere may be a time where your boat is involved in an accident that causes property damage or injury to another party. The liability aspect of boat insurance is key in this case, as it pays for any expenses you incur as a result. It also protects you against any lawsuits that arise. Litigation can become expensive quickly, and this coverage helps pay for court costs, lawyers’ fees, and any damages awarded to the other party. 

Additional Coverage to Consider

Consider implementing protection for any gear or accessories, such as towing trailers or water sports gear, which may not be covered by your standard policy. You can also look into medical payments coverage, which pays for medical care if you or your passengers are injured after an accident. Much like your auto policy, there is also uninsured boater coverage in case you’re struck by a boater with insufficient insurance. 

 

Boaters in Clayton, GA, look to A.W. Adams Insurance when they have questions about their policies. These skilled agents utilize more than five decades of experience, allowing them to address even the most complex coverage situations. They’ll help you design the best boat insurance policy for your needs so you can feel protected on the water. Because they have great relationships with numerous providers, they’ll also work to find you the best rates possible. Learn more about the different products they offer online, or call (706) 782-5100 to schedule a consultation today. 

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