A boat is a versatile source of summertime entertainment. It's ideal for both relaxation and excitement, depending on your mood. However, it's a considerable investment, so it's important you have an insurance agent help you craft a policy to protect it. Below are some of the key reasons boat insurance is so important.

4 Reasons Boat Insurance Is Essential

1. To Protect Against Boat Accidents

Boat coverage pays for damages sustained on the water, whether it's from a collision with another boat, a hard bump against the dock, or a submerged log or outcrop of rocks. Boats cost a lot of money and are expensive to fix. Property damage coverage keeps you from paying out-of-pocket for repairs.

2. To Guard Against Liability

Liability insurance protects your assets in the event you accidentally injure someone or damage their property. Note that medical expenses for serious injuries could easily exceed six figures, and you'll understand how important it is to contact an insurance agent about coverage.

3. Your Lender Requires It

Boat insurance, unlike car insurance, is not required by law in most states. However, if you finance the purchase, your lender will almost certainly insist you purchase coverage. As a lienholder, they have the right to protect their financial interest in this manner.

4. Your Marina Requires It

If you intend to dock your boat at a marina instead of hauling it in and out of the water every time you wish to use it, you'll have to buy boat insurance. The marina must protect itself in case your boat should damage their own property or that of another boat owner.

To have a friendly, knowledgeable insurance agent help you design a boat insurance policy, contact Shelter Insurance® - Michael Flynn. They are a trusted insurance agency in St. Peters, MO, serving clients in and around St. Charles and St. Louis counties. They specialize in auto, home, boat, RV, motorcycle, and homeowners insurance. Visit their website to connect with them online or call (636) 441-8177 to request a quote from a helpful insurance agent.