Boat Insurance and Its Significance

​Whether you have a fishing boat or a yacht, surely your boat is expensive. It is also important to get boat owner insurance to protect you from damage or theft. Other insurance companies that offer home insurance include your vessel insurance, only if your watercraft is small, slow, and low-cost. These are some ways to understand boat insurance coverage.

Coverage of Boat Insurance

• Destruction from collision, fire, lightning, theft, and vandalism.
• Damage to watercraft and attached equipment like anchors.
• Physical injury liability, which pays expenses when a passenger on your boat is injured.
• Liability for damage to property, which pays for damage your boat causes to another person’s property.
• Liability to the guest passenger, which pays for litigation expenses of a person driving your watercraft with permission.
• Medical payments for you and your passengers. 

What Boat Insurance Doesn’t Cover 

• Wear and tear of the boat. 
• Damaged machinery or not working properly. 
• Ravage from sharks and creatures.
• Infliction from mold, insects, and mussels. 

Factors of Boat Insurance
Insurance companies observe a lot of factors upon deciding whether or not a boat owner is eligible to procure insurance. Most of the vessels can be provided with insurance. You should consider these first before getting the right policy for your boat:  

• Boat’s number of years 
• Length of boat
• Cost
• Speed or intensity
• Condition 
• Is the boat a primary residence?
• Type of boat
• Improvised boats or boats without serial numbers.
• Houseboats with no machinery.
• Whether the boat has more than one owner.
• Location of operation.

Conclusion
The global pandemic caused a major dilemma for every one of us. We are no longer safe wherever we go but we can always be careful. Traveling at sea sounds fun but it’s not yet allowed. If you are planning to get a boat or already got one, consider getting watercraft insurance. It will not only benefit you but will also make a good investment out of it. If the time comes when sailing is permissible, remember to be cautious at all times.  Equip your boat with all the necessities and never sail while intoxicated or under the influence of illegal drugs. 

At Arnold Insurance Agency, LLC, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at  (318) 965-5953. Get your free quote today by CLICKING HERE.