It is a question that many boat owners ask. Your boat may be covered on land and in water- as long as you have insurance that provides the coverage.
Boat Insurance Coverage
Whether your boat is kept on a trailer, docked at a marina, or stored at home, it needs to be insured to protect you from financial liability if someone is injured while using it. In fact, any time the boat isn’t in use, it needs to be insured because someone could be injured while the boat is being moved.
Boat insurance covers injuries and damage that occur during normal usage, as well as accidents that occur while it’s being towed, stored, or serviced. The type of boat you have determines the type of coverage you’ll need from your insurer.
Water Coverage
Your boat policy includes liability coverage for accidents that may occur while you are on the water. It also provides coverage for damage to your boat from fire, theft, or sinking.
Boat insurance also reimburses you for damage to your boat’s structure caused by a collision with another vessel or object. It can also pay for medical expenses for you or someone on your boat if they are injured because of an accident.
Transporting Your Boat
Your boat might need to be insured when it’s being transported. If your boat or any other property is damaged during transportation, the insurance company pays for the damage up to the policy’s value you purchased.
A boat trailer can be covered under items you transport. Each policy has its own stipulations about covering trailers, but generally, if it’s attached to your vehicle and is used as transportation, the trailer is insured along with your car. Your insurer provides coverage up to the value of your policy for property damage.
If you have a boat, your boat will need insurance for it to be covered, whether it’s on land or in water. Make sure you have the right insurance policy that provides you with sufficient coverage, so you can rest easy- knowing that your boat is protected. If you are in Spokane, WA, contact Capital insurance for all your boat insurance needs.
