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If you recently purchased a boat, you’re probably looking forward to a summer out on the water. However, it’s important to buy insurance for your watercraft before you start the engine. Doing so will protect your family from financial hardship in the event of an accident. The following are just some of the many reasons to get insurance as soon as possible. 

Why Do Boat Owners Need Insurance?

1. Protect Yourself

One of the main reasons to insure your boat is to protect yourself in the event of an accident. If you injure another boater or damage their property in a crash, the insurance will cover the costs. An insurance provider will talk you through your coverage options, which generally include property damage, bodily injuries, collision damage, and comprehensive coverage. 

2. Cover Your Equipment

insuranceYour boat is a significant investment, so you want to be prepared for the unexpected. Increment weather, reckless drivers, fires, and theft can pose risks to your watercraft and equipment. You want to make sure that you are covered in the event of an accident or another incident, so you can avoid paying out of pocket for repairs and replacement equipment. 

3. Meet Requirements 

If you are docking your boat at a marina, you likely need to have insurance coverage. This helps the marina owners avoid liability during each season of the year. Your lender may also require coverage if you are taking a loan out to pay for your boat. Check their minimum coverage requirements before you purchase a policy. 

 

If you recently purchased a boat, the team at Chanler Agency can help you select a policy that matches your needs. Serving Livonia and Geneseo, NY, their team of agents helps their clients achieve peace of mind through quality insurance. To learn more about their services, visit them online today. You can also reach their Geneseo office at (585) 243-5520 and their Livonia office at (585) 346-3118. 

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