While many own boats primarily for recreational purposes, these vehicles are still quite costly. As crafts that spend a lot of time on the water, they can face a lot of unique risks—many of which can lead to additional expenses. Fortunately, if you’re a budget-conscious boat owner, having a solid insurance policy can help shield you from many of the financial risks associated with these crafts. If you’re on the fence about this vital protection, here are five ways that boat insurance could cover you.
5 Risks Covered By Boat Insurance
1. Property Damage Liability
Bad weather and mechanical failure are just a few reasons why you might get in a collision on the water. If an accident is your fault, you will likely be held responsible for the damages. Boat insurance policies will cover the costs of repairing or replacing damaged property—such as other vessels or docks—up to a certain amount.
2. Injury Liability
Boating accidents don’t just cause property damage—they can also lead to serious injuries. If you’re found at-fault for a collision that resulted in injuries to other parties, you could be sued for damages. But if you are sued, having insurance could shield you from these costs. Policies also provide coverage to minimize related legal expenses you may incur in these situations.
Standard liability insurance will only pay for damages you cause to another property. However, if you opt for a better policy, you can get coverage to pay for repairs that your boat may experience after an accident, including those that happen while the vessel is docked. If the damage makes the boat unsalvageable, some policies may also pay for a fair value replacement.
4. Uninsured Boat Operators
If you’re involved in a boating accident that another party is responsible for, you should expect them to have the insurance coverage necessary to cover the damages. Unfortunately, not all operators have the proper insurance. In these instances, it helps to have a policy that protects against damages caused by uninsured operators.
5. Emergency Assistance
Many car insurance plans provide some form of roadside assistance so you can get back on the road with confidence after an emergency. Similarly, many boat insurance policies will provide emergency assistance—such as towing and fuel delivery—if you experience troubles on the water.
Whether you’re spending time on Oak Hollow Lake or taking a sailing trip along the Carolina coast, Dewey Beckner: Allstate Insurance will provide you coverage to enjoy worry-free water excursions. Understanding that every client is different, this High Point, NC, insurance agency will take time to learn about your specific coverage needs and develop a policy that comfortably fits your budget and addresses your risks. To learn about all the ways this provider can give you peace of mind, visit the agency online. For a custom boat insurance quote, call (336) 884-5636.