Watercraft 

 

You’ve already invested a lot in your boat—and the last thing you want is an unexpected expense to sink that investment. Watercraft insurance helps protect your boat and shields you from costly out-of-pocket expenses if something goes wrong.

 

Watercraft insurance is a type of personal insurance policy that provides coverage for a wide range of boats and personal watercraft, including fishing boats, dinghies, deck boats, catamarans, sailboats, houseboats, pontoons, yachts, jet skis, and more.

In some cases, a homeowners insurance policy may offer limited coverage for a boat. However, once a boat reaches a certain size or value—which is often the case—homeowners' insurance typically won’t provide adequate protection.

Without proper watercraft coverage, you could be left paying significant costs for damage to your boat, damage your boat causes to others, or liability related to injuries.

 

Types of Watercraft Insurance

 

There are several types of watercraft insurance available. Depending on your vessel and how you use it, you may need a comprehensive policy that includes multiple coverages, such as:

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• Hull insurance: Covers physical damage to your boat.

• Third-party liability insurance: Covers property damage and bodily injury your boat causes, including fuel spills, towing, medical expenses, and rescue operations.

• All-risk insurance: Provides broader protection, including ice damage, freezing, pollution liability, reef damage liability, and mechanical breakdown.

• Actual cash value or agreed value insurance: Covers your boat based on its current market value or a value agreed upon when the policy is purchased.

• Yacht insurance: Designed specifically for boats 27 feet or larger.

 

Watercraft insurance helps ensure that your time on the water stays enjoyable—without the worry of unexpected financial setbacks.