The exact boat coverage you need depends on multiple factors. Small boat insurance is very different from yacht insurance, for example. However, for most types of boats, the three kinds of coverage in a basic boat insurance policy include:
- Bodily injury liability for expenses related to the injury of another person
- Property damage liability for expenses related to harming another person’s property
- Physical damage for damage to your own property, including your boat and trailer.
You also may want to add additional types of coverage to your boat insurance policy in order to fully protect yourself and your property. Here are some examples of additional coverage:
- Property coverage for equipment such as tools, life preservers, anchors and oars
- Insurance for fishing equipment like your rods, lures, nets and tackle
- Towing coverage when your boat becomes disabled and needs servicing
- Medical payments coverage for hospital and funeral expenses for you or your passengers
- Uninsured/underinsured boaters coverage if you have an accident with another boater whose insurance is not sufficient to cover damages
As with all insurance, the amount of benefit or reimbursement you have in the event of an incident is set at the time you buy your policy. Be sure to call us at Tonry Insurance Group, we can make sure you have sufficient insurance for the risks you encounter.