Does My Homeowners Insurance Cover My Boat?
Theft to watercraft, including furnishings, equipment and outboard motors, is typically excluded if the theft occurs outside your residential premises. To cover your boat and its accessories, you need a separate boat insurance policy.
What is Boat Insurance?
A typical boat insurance policy will protect your boat, motor, equipment and passengers. Coverages will usually include:
- Theft, loss or damage to the boat and attached equipment
- Bodily injury coverage, if someone else is injured
- Damage caused to someone else’s property by your boat or watercraft
- Liability coverage for your passengers, which would include family and guests
- Medical payment coverage for injuries to the occupants of the boat
Physical Damage Coverage
Physical damage coverage insures your boat, motor, boat trailer, boating equipment and other personal property against accidental loss or damages.
A Boat Insurance policy will include two principal liability coverages.
- Personal liability coverage provides protection for legal liability. It pays up to the limit of your policy, the legal obligations imposed upon you due to an accident resulting from the ownership, maintenance or use of your watercraft, including bodily injury, property damage and legal defense.
- Medical payments coverage pays medical expenses up to the limits in the policy, including the insured’s boating-related medical expenses from an accident arising out of the ownership, maintenance and use of the boat. Expenses include hospital, medical and ambulance.
Additional Coverage Options
Along with the basics some extra coverage to consider include:
- Reasonable Repairs. Covers repairs done to protect covered property from further damage
- Emergency Services. Pays for reasonalbe costs that you incur 4resulting from specified emergency service to your boat, motor or boat trailer.
- Wreck Removal. Pays the reasonable expenses you incur for any attempted or actual raising, removal or destruction for the wreck of your watercraft when damage is caused by an insured loss and remove or destruction required by law.
- Umbrella Liability. Provides additional boat insurance coverage across the board for home, auto and watercraft.
Whether your boat is big or small, it’s still an investment. As a result, we want to make sure your are protected and familiar with your coverage. Call us at 419-522-9892 to review your policy or get a quote today.