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Most boat owners understand the importance of maintaining proper coverage. Some marinas require boat or watercraft insurance for you to park your vessel in them. Lenders often require comprehensive coverage. But what happens after an accident? Will your policy pay for everything?
Standard Policies
Boat and watercraft insurance offers various coverage levels, similar to auto policies. Liability coverage, which is often required by marinas, pays for the other person’s property damage and medical expenses, but not yours. Other policies may cover your boat and related expenses.
Most standard policies include wreckage cleanup, which may involve towing your boat to shore if it’s too damaged to operate. Policies may also include fuel spill cleanup. However, this depends on the insurance company, as some require you to purchase additional coverage. An agent at Rising Star Insurance can help you understand what your policy covers.
Additional Coverage Options
Many insurance providers offer add-ons for vessel owners. Always ask your provider whether wreckage cleanup and fuel spill cleanup are included in your policy. If they’re not, you can likely purchase them as add-ons.
You should also inquire about on-water towing in case your boat breaks down. This is similar to roadside assistance, but for boats. Hurricane haul-out coverage can help move your boat if a hurricane is approaching. Coverage for personal belongings is often separate and protects items you have on the boat, such as fishing gear or chairs.
Boat owners have several options to ensure they have the necessary coverage. Agents at Rising Star Insurance can help you learn more. Call us today to discuss the details of your policy. We’re currently serving the Saint Paul, MN area.