Insurance 101: What Does Boat Insurance Cover?

​How many stories like “The Titanic” have you heard of, where significant accidents happen at sea? While there are significantly fewer reported cases of collisions and accidents at sea, boat owners need to have boat insurance.

What Is Boat Insurance?
At its most basic, boat insurance insures you against damage to your motor, trailer, personal goods, and the boat itself. If the engine blows, you will have protection from a legal case or any hospital bills. Whether it’s a small boat, powerboat, yacht, fishing boat, or pontoon, you should have insurance. 

What’s Covered by Boat Insurance?
Boat insurance gives the boat owner protection from several scenarios. Some of these are:

1. Additional coverage options
   This policy covers “extra” things like:
      - Damage to a dock at the marine
      - Fishing equipment
      - Hospital bills
      - Personal property protection 
      - Oil spills
      - Uninsured coverage
   
   
2. Bodily injury liability 
   Someone could get hurt while on board, or, if your boat is pet-friendly, someone could sustain an injury from a dog bite. With this policy, you’ll be able to cover any medical bills to treat the injured person, including lost wages. Moreover, if the person takes legal action against you, this policy will cover the due expenses. 
   
   
3. Collision damage
   If an accident occurs while you’re out in the water, this covers repairs and replacements to the boat. You’ll need to carefully read the terms and conditions to this, as some policies require you to get extra coverage. Things like cleaning up after the wreckage may not be covered. This coverage does not involve engine issues due to wear and tear. The coverage only applies if the problem is due to a manufacturer’s defect.
   
   
4. Comprehensive coverage
   For non-collision incidents, comprehensive cover steps in to cover costs for things like vandalism or theft. Different insurers have varying terms and conditions for this policy. Talk to your insurance provider to find out the extent to which this policy’s coverage goes. 
   
   
5. Property damage liability
   Suppose you lose control while at sea; you might damage another boat or property or damage the dock. With a property damage policy, you’ll be able to afford to pay off any costs for the necessary repairs. 

Conclusion
Make sure that as you step out into the waters, you have all the necessary documentation to cruise comfortably. Every policy giver is different, so do your research before settling for coverage to find one that works for you.

At Arnold Insurance Agency, LLC, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (318) 965-5953 or Click Here to request a free quote.