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Boat and Watercraft Insurance


When the topic of insurance comes up, people usually think of auto, home, life etc…., but there are other kinds of insurance that people are not aware of. There is watercraft insurance to cover boats, there is ocean marine insurance, and even aviation insurance.

Watercraft insurance is sold as a separate policy, or it can be added to a homeowners insurance policy. Since homeowners policies only provide limited coverage for watercrafts, people tend to purchase it as a separate policy.

Boat owner’s policies are available for runabout-type boats, their motors, equipment, and trailers. Boat owner policies are actually very similar to auto insurance policies. Both policies have to cover liability in the event you negligently injure someone or damage their property. This is referred to as bodily injury and property damage liability. In the event that the boat sinks, is stolen, or involved in a collision, the boat itself is covered for physical damage. This physical damage coverage is called Hull Damage. Watercraft policies are designed for watercrafts that are less than 26 feet in length. (more…)