Boat insurance is one of the most important purchases you can make for your vessel. It provides peace of mind while you’re on the water, knowing you are protected in case something happens. But what does boat insurance cover? Here we discuss the different types of coverage that are available and what each one protects you from.
What Does Boat Insurance Cover?
Liability Coverage
This is the most critical type of coverage, as it protects you from financial responsibility if you damage another person’s property or injure them while operating your boat. It’s also the only coverage required by law in most states. Liability coverage from Securum LLC in Bellevue, WA will pay for the other party’s medical bills, repair costs, and legal fees up to the limit of your policy.
Physical Damage Coverage
Physical damage coverage protects your boat from damage caused by collision, weather, fire, theft, and other perils. It’ll pay to repair or replace your vessel up to your policy’s limit. This coverage is not required by law, but it’s recommended if you have a loan on your boat or if it’s valuable to you.
Medical Payments Coverage
This coverage pays for the medical bills of you and your passengers if you’re injured in a boating accident, regardless of who is at fault. It’s recommended if you do not have health insurance or if your health insurance does not cover injuries sustained in a boating accident.
Uninsured/Underinsured Boater Coverage
This coverage protects you from financial responsibility if you’re involved in an accident with a boat that does not have insurance or does not have enough insurance to cover the damages. It’ll pay for your medical bills, repair costs, and legal fees up to your policy’s limit.
Give Us A Call
Boat insurance is an important purchase that every boat owner should make. It provides peace of mind and financial protection in case of an accident. Be sure to understand the different types of coverage that are available and choose a policy that meets your needs. Securum LLC, serving the greater Bellevue, WA community, offers comprehensive boat insurance policies at competitive rates. Contact us today for a quote.
