American Option Boat Insurance
The longer a person has sailed, the more he or she appreciates the security and
peace of mind that boat insurance offers. If you’re new to boating, you may
imagine that your homeowner’s insurance policy will cover your boat, but that’s
rarely the case. As is the case with every kind of insurance, the last thing you
want is to discover the limits of your protection after an accident.
What does boat insurance cover?
Boat insurance covers your boat or personal watercraft, which could include jetskis,
while either in the water or on land, and it provides three main types of
Bodily injury liability: This type of coverage pays for expenses incurred by
persons injured during an accident you caused. Depending on the specific
policy, this can cover medical bills, pain and suffering, lost wages, and costs
associated with litigation.
Property damage liability: This type of coverage pays for damages to someone
else’s property involved in an accident you caused. This could be another boat
or watercraft, docking facilities, or any other type of structure or vehicle your
boat could damage.
Physical damage: This type of coverage provides protection for your boat
itself. If it is damaged on water or land, this coverage assists with the cost of
repairs or replacement. The level of coverage you select will determine the way
in which your boat insurance will assist with repair or replacement costs. Actual
cash value is the market value of your vessel, agreed value is the coverage
value you select upon first choosing the policy, and replacement cost will
replace your boat with the same or closely similar type of new boat or
watercraft. This type of coverage is generally limited to newer boats.
A boat policy will help protect your liability in case of an accident. The types of
coverages you select could depend on the type of boat you own or personal
preferences. No matter where you store your boat, you want to make sure it
and your family are protected. Each boat policy is unique, but available
coverages include coverage protecting you from costs associated with:
• Collision with another watercraft
• Collision with a structure
• Uninsured or underinsured boaters
• Personal Possessions
• Fishing equipment
• Boating equipment
• Emergency Services
Coverage makes sense, all year-round
Covering your boat during boating season makes sense, but covering your
watercraft year-round makes even more sense. Canceling your policy when
your boat isn’t in active use may seem like a good way to save a bit of money,
but plenty can happen to your boat while it’s in storage. Theft and vandalism
are even more likely to occur while you’re not using your boat, and someone
can be injured on a boat in storage just as easily as on the water.
Your personal watercraft or boat is something that family and friends can enjoy
alike. We don’t want the fun to stop there because you aren’t protected.
Whether you are the casual boater or go out for sport, we will make sure the
policy fits your needs.
Where should I start?
Give us a call at 888-985-4032, and we’ll outline your options and help you
determine the best coverage for your needs. Boat insurance is a unique product
and can sometimes be combined with other coverages to become even more
affordable. You have options.