The decision to invest in a watercraft is never quick—in fact, you’ve probably been planning this purchase for months or even years. Therefore, it’s crucial that your investment will be covered, even if the boat itself has been vandalized, stolen, or otherwise damaged. If you’re looking for more information on a watercraft policy, consider the benefits below before meeting with a qualified insurance agent.

What Are the Benefits of Boat Insurance?

1. Protect Your Investment

With the right boat insurance policy, you can benefit from total loss replacement. This means your insurer will cover the replacement value of the entire vessel. So if it’s capsized during a storm or burned in a dock fire, you’ll receive the dollar amount of your investment. You can then use those funds to purchase a new boat.

2. Avoid Expensive Solutions

Boats are powerful vehicles, and without lanes or stoplights to keep you in line, you might be involved in an accident on the water. Luckily, your boat insurance won’t leave you liable for property damage you commit. Therefore, if you damage a dock when pulling in or scrape past another boat, you won’t have to pay for any of the repair costs. The same goes for environmental damage, so if you happen to have a fuel leak and pollute the water, some policies will cover the cleanup fees.

3. Protect Yourself & Your Passengers

One of the most important reasons to secure a boat insurance policy is to protect the people you’ll be spending time with while out on the water. If someone slips and falls on your boat and ends up in the hospital, your policy will cover their medical bills. Also, if you get into an accident and injure people in a different watercraft, the liability portion of your coverage will take care of their needs.

When you’re ready to insure your watercraft, reach out to an insurance agent at Pearson & Barnes Insurance. This Somerset, KY, agency is proud to offer peace of mind for boaters during the upcoming recreation season, and they also cover homes, farms, and businesses. With 20 years of combined experience, you can count on their team of insurance agents to find the policies that meet your needs. Learn more about their offerings by visiting the website, or call (606) 679-1450 to ask for a quote.