When you drive a car in Missouri, you’re required by law to carry, at minimum, liability auto insurance. But when it comes to operating a boat, no coverage is required by the state. As a result, many water-faring individuals don’t think that boat insurance will offer many benefits. However, having this protection could cover you against many unique risks and help you avoid financial losses. To help illustrate the importance of this coverage, here are a few reasons why you should insure your vessel.  

5 Risks That Boat Insurance Will Cover  

1. Property Damage

If your boating activities lead to property damage—such as by hitting a dock or another watercraft—you can be held liable for the cost of repairs. Boat policies that cover property damage liability, however, will offer funds to repair or replace affected property up to a certain amount.

2. Injuries

There are many steps you should take to protect you and your boat passengers from harm—such as not drinking alcohol while operating a vessel and providing everyone with life jackets. But even with these precautions, there is always a risk that your boating activities may injure passengers or people on other crafts.

Without boat insurance, you can be held liable for expenses related to the injury—such as necessary medical care. With coverage, your provider will offer a medical liability payment up to a certain amount to minimize your financial risk.

3. Operational Emergencies

Like roadside assistance coverage on an auto insurance plan, many boat policies offer some form of emergency assistance. For example, a plan may cover fuel delivery or towing if your craft becomes stranded.

4. Theft & Vandalism

If you have comprehensive coverage on your boat policy, you can also save yourself from losses that occur when you’re not on the water. For example, if someone vandalizes or steals your vessel while it’s docked or stored, your provider could extend coverage to help you repair or replace the property.

5. Collision Repairs

When you’re responsible for an accident, liability coverage can protect you from having to pay for damages you cause to other parties. However, it will not cover any damage that your boat experiences as a result of the collision. To cover these losses, you’ll need to make sure your policy includes collision coverage.

Whether you’re traveling the Missouri River or fishing in the Ozarks, Farmers Insurance® – Andrew Chao will introduce you to the coverage you can count on. Familiar with the unique risks that recreational vehicles face, this St. Louis, MO, agent will draft a policy that fits your needs, all while keeping your premiums affordable. As a policyholder, you’ll also have easy and low-cost access to many other nationally recognized Farmers products. To learn more about boat insurance and other policy options, visit this local agent online. For quotes, call (314) 300-7690.