Boat insurance is not required by law in Nebraska. However, a boat is a significant purchase and it makes sense to protect that investment with coverage. If you are a boat owner and have not yet talked to an insurance agent about a policy, the guide below explains what options are available. 

What Crafts Does Boat Insurance Cover?

Boat insurance is available for motorboats, speedboats, pontoon boats, fishing boats, personal watercraft, and sailboats. Smaller craft like canoes and paddleboats are normally covered under your home insurance policy. 

For boats larger than about 27 feet, you may need yacht insurance, which costs more and has higher limits to accommodate the greater expense of the watercraft.

What Types of Coverage Are Available?

Coverage varies by the insurer but generally falls into certain categories. Liability coverage pays for repairs, injuries, and legal fees if you should accidentally harm a third party or damage their property. Boat property insurance pays for damages to the hull and other integral components whether they occur on water or land. Ask your insurance agent if you need to purchase additional property coverage to protect electronics, ski gear, anchors, and other on-board equipment.

Medical payments coverage pays for the treatment of any injuries you or your passengers sustain, while uninsured watercraft insurance pays any amount not covered if your boat is damaged by an uninsured or underinsured boater.

Why Else Might You Need Boat Insurance?

Although the state of Nebraska does not require it by law, you may need boat coverage if you financed your watercraft with a loan since lenders want to protect their interest. Moreover, if you intend to dock your boat at a marina, many of these require insurance in case you damage their dock or the property of another client.

To have a friendly insurance agent help you acquire coverage, contact Mid-Alliance Insurance Associates, the premier insurance agency in Lincoln, NE. They serve clients in and around southeast Nebraska and also specialize in auto, home, life, and business insurance. Learn more about the company at their website or call (402) 421-7800 to speak with a representative.