Do I Need Boat Insurance For My Boat Trip?
The weather is getting warmer and you may have already slipped your boat back into the water. The next logical step is to start planning your boating trip or day out on the water. Regardless of the nature of your boating adventure, you should still make sure that you have the proper insurance protection in the event of an accident out on the water, or even at the dock. Boat insurance exists for boats of all sizes. An agent can walk you through the appropriate coverage for your watercraft and your usage. Let’s talk about a few different situations in which your boat coverage may come in handy:
- Traveling on your Houseboat or Yacht
- A day trip on your Pontoon
- An afternoon on your Ski Boat
- Out on a Fishing Trip
Traveling on your Houseboat or Yacht
For a boat of this size and value, insurance should be one of the first things you think about before hitting the open seas. By talking to your insurance agent, you can customize a boat insurance policy to have the proper coverage.
Liability coverage would help protect you should you get into an accident with another person or boat. The costs can get overwhelming, and if legal payouts were involved, it may cost you thousands of dollars as well as other assets to cover the expenses. Additionally, medical payments coverage will ensure that any passengers on board are protected in the event of injury. Like legal fees, medical bills can become very expensive. This coverage will help you to avoid paying for costs out-of-pocket. Especially if you will have other friends, family members or guests on board, you may also consider an umbrella insurance policy to provide an extra layer of liability protection for you and your yacht.
While physical damage coverage is optional on all boat policies, the owner of a boat this size may consider the added coverage. This part of your policy helps to protect the boat itself, as well as the motor. Coverage is subject to the deductible you choose, but it will help you avoid having to be solely responsible for fixing or replacing your boat, or someone else’s’ should something happen. Boat owners may also consider adding contents coverage to their boat policy. While your homeowner’s insurance policy will be there for you to protect any belongings you have on board, it only kicks in after your deductible is paid. If you have coverage on your boat policy, you can select a lower deductible for your contents coverage to ensure that everything on board is protected.
Setting out to sea for days or weeks on end sounds like a dream but if something was to go wrong, your dream can quickly turn into a nightmare. A watercraft insurance policy designed for your houseboat or yacht will help to keep your mind at ease.
A Day Trip on your Pontoon
While you may not set out for weeks at a time on your pontoon boat, you still want to make sure that you have the proper insurance coverage to ensure that you, your boat and your passengers are protected. You’ll want to make sure that you have enough bodily injury coverage to protect the maximum number of passengers that you may have on board in the even that your day-of-fun goes wrong.
Along the same lines, in the event of a lawsuit, you will want to make sure that you’re covered with liability coverage. It is especially important for your agent to know if you have some sort of slide or trampoline on the back of your boat. This may call for increased liability limits, or even adding an umbrella policy into your portfolio to properly insure your pontoon. Furthermore, it is important to remember to have a designated driver if you’ll be spending the day out on the boat. Keep in mind that drinking and driving laws apply out on the water as well.
An Afternoon on your Ski Boat
If you’re planning on spending the day out on your ski boat, chances are that you’re in for a day of fun and adventure. That all sounds great, but make sure that you have the proper ski boat insurance to go along with your fun. If you’ll be pulling people around on tubes or water-skis, talk to your agent about the appropriate liability limits for your policy. Your agent may also suggest extra liability through an umbrella policy. Of course with any form of towing behind the boat, whether it is a tube, trampoline, water-skiing, etc., you’ll want to make sure that the bodily injury coverage on your policy is enough to cover medical expenses. Bodily injury coverage will also come into play if you were to get into an accident while out on the water. To protect your boat itself, you’ll need collision coverage for any damages. For damages to another boater’s boat or to other property such as a dock, you’ll also need property damage coverage.
For your ski boat equipment, your agent can recommend proper limits based on the value of your items and provide protection through personal property coverage. These items can be covered under your homeowner’s policy, but would be subject to your deductible. Contents coverage on a watercraft policy can be customized with a lower deductible.
The proper limits for each of the policy’s listed coverages are dependent on your boat-use and your boat. You can also ask your agent if you’re eligible for any discounts.
Out on a Fishing Trip
The coverage your agent may recommend is dependent on the size of your fishing boat, and is influenced by the number of passengers that may set sail with you, and the amount and value of equipment that is on board. Providing your agent with these details will help customize the perfect coverage limits for your policy. No fishing boat is too big or too small; we can even insure your row boat if you’re heading out onto a calm lake or pond.
The fishing equipment you have on board could be covered on your home insurance policy, subject to your deductible. However, you do have the option for personal contents coverage on your boat insurance policy, which would help you avoid paying a high deductible for any lost items. Bodily injury coverage will protect you and your passengers if an accident were to occur, and liability limits will cover costs of medical bills and any legal fees. Your collision and property damage coverage will also be beneficial should an accident occur out on the water, or even in at the dock. Collision coverage will also be an asset if something were to go wrong while transporting your boat to or from the water.
Regardless of the type, size or use of your boat, it’s important to talk to your agent about properly insuring it with a boat insurance policy. Knowing you have the right coverage will help you be more at ease while out on the water. You can also discuss the possibility of discounts to lower your yearly premium. People find savings through discounts such as paperless billing or combine and save. The agents here at Encharter Insurance are available for additional questions about your existing policy, or to discuss a new boat insurance policy. Talk with them at 888.865.1244.
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