Should I invest in boating insurance?

Many states don’t require boat owners to carry insurance. However, this doesn’t mean that they shouldn’t or might not be required to carry boat insurance for other reasons. Our team at Rising Star Insurance is dedicated to helping Saint Paul, MN boat owners get the coverage they need.

What is Boat Insurance? 

Boat insurance is similar to car insurance because it provides liability coverage for personal injury and property damage to others. Boat insurance will also cover the repair or replacement of your boat as well. If the damage is covered under your insurance policy, your repairs or replacement will be covered up to the policy’s limits. Liability coverage will pay for any damage or injuries while you’re boating. Your boat is covered for theft, vandalism, damage, and loss or damage of personal belongings. However, some things may not be covered by your boat insurance policy. Towing may be one of those uncovered items. 

Boat insurance isn’t Legally required where I live, but I go Boating all the time. Should I invest in Boat insurance?

Minnesota doesn’t require boat owners to carry boat insurance. However, it’s probably still a good idea to invest in it anyway. Some marinas may require boat owners to carry liability insurance. Also, if you have a boat loan, your lender will probably require you to carry boat insurance until your boat is paid in full. Typically, a lender will require you to carry both comprehensive and collision coverage on your boat until it’s paid off. If you have questions about boat insurance and its benefits, call us. We’d be happy to answer your questions.