There’s nothing quite like navigating the open waters in a boat during the summertime. However, owning a watercraft comes with a number of financial risks. As such, the only way to truly enjoy all that your vessel has to offer is to make sure you have sufficient boat insurance to reduce your chances of experiencing a significant loss. The guide below takes a closer look at this coverage.

What Is Included? 

Boat insurance is designed to protect you and your watercraft should an unexpected event occur. These policies can include several different types of coverage, but some of the most common options include liability and collision protection. The first covers bodily injuries and property damage you cause another party while operating the watercraft. The second ensures that, should your vessel suffer damage in an accident, the provider will take care of the cost to repair or replace it.

You can also opt for comprehensive insurance, which pays for damages caused by a non-collision. Finally, an uninsured or underinsured boater add-on will reimburse you for any damages you sustain if a boater lacking insurance hits you. 

Why Do You Need It? 

Standard homeowners insurance policies usually only offer limited coverage for small vessels, and a loss can only be claimed if it occurs at home. Thus, a separate boat policy is needed to ensure your financial security. Without it, if you are found at-fault for an accident, you would be liable for paying all of the associated medical, repair, and legal costs out of pocket. Additionally, even though boat insurance is not required in Nebraska, you are generally required to have it if you financed the purchase or wish to dock the vessel at a marina. 

How to Find a Policy 

You can obtain boat insurance from a variety of providers. The best way to explore your options is to work with an independent agent who has access to products from multiple carriers. They will be able to help you compare coverage and prices to ensure you’re purchasing a suitable policy at the most affordable price available. 

Having reliable boat insurance will provide you with peace of mind on and off the water. Looking for quality coverage? Contact Robert Rung Insurance. He offers more than 40 years of industry experience helping residents of Lincoln, NE, and the surrounding communities protect their financial stability. He will go over all your options to customize a policy that fits your unique needs. Call (402) 450-1564 to set up an appointment or visit his website to submit an inquiry online.