With spring in full swing, it won’t be long before the temperatures are warm enough to take your boat out on the water. However, before you do, you’ll need to make sure you have adequate protection in place should an unexpected incident occur. Boat insurance will minimize your financial risk and allow you to fully enjoy your boating experience. Since shopping for a policy can be confusing, here are the answers to a few frequently asked questions to give you a better understanding of coverage for your vessel.  

Common Questions About Boat Insurance

Why do I need boat insurance? 

Although boat insurance isn’t required in North Carolina, every boat owner is strongly advised to buy coverage. There are many risks involved in operating a boat, and unfortunately, no matter how cautious you are, accidents can happen. With a policy in place, you can have peace of mind your investment is protected. Furthermore, if you finance the purchase of a vessel, it’s likely your lender will require you to carry insurance, and certain marinas will require proof of coverage before you can use their facilities. 

What does it cover?

Boat insurance policies can contain several types of coverage. Some of the most common options include:

• Liability – This covers any bodily injuries and property damage you cause third parties while operating your vessel.
• Collision – If your boat sustains damages in an accident, collision coverage will pay for its repairs or replacement. 
• Comprehensive – If your boat is stolen or damaged by anything other than a collision, comprehensive insurance will cover your loss. 
• Uninsured/Underinsured boater – This coverage will reimburse you for damages if an uninsured or underinsured boater hits you. 

Do I need to keep my boat insured in the winter? 

Even though your boat may be stored away during the off-season, it’s best to keep it insured year round. Your vessel is at risk of fire and weather-related damage, theft, and vandalism regardless of the season. Should damage occur without having an active policy, you’ll be responsible for paying for your boat’s repairs or replacement out of pocket. 

How can I save on coverage costs?

Most providers offer numerous ways to reduce boat insurance premiums. Discounts will vary from one insurer to the next, but often, you can cut costs by taking a boating safety course, bundling multiple policies under one company, staying accident-free, and boating in fresh water rather than salt water. Ask your agent what savings you qualify for to make sure you’re getting the best deal on coverage. 

If you’re looking for high-quality and cost-effective boat insurance, contact Dewey Beckner with Allstate Insurance Companies. Offering more than 20 years of industry experience, he can help you find the right coverage for your needs and budget. Having relied on his expert guidance, many boat owners throughout High Point, NC, can relax and have fun navigating the waters with the confidence they're sufficiently protected. Call (336) 884-5636 to set up an appointment, or visit him online to request a customized quote.