In order to understand boat insurance, we must look at all the different types of boat coverage and how they differ.
Liability insurance: Liability coverage covers expenses or injuries you're accountable for while out on the water. This coverage extends to damages incurred by docks, pilings, and other vessels, as well as injuries sustained by your passengers and other boaters. Most policies include protection for passengers engaged in water activities such as tubing, wakeboarding, and waterskiing– this can be found under Med Pay or Medical Payments. Furthermore, liability coverage often includes provisions for fuel spill cleanup and wreckage removal in the event of a sinking requiring the boat's extraction depending on your policy.
Uninsured/Underinsured: This type of coverage helps cover injuries done by another boater that does not have insurance or adequate insurance to cover the damages.
Comprehensive and collision: Comprehensive coverage protects your boat from damages stemming from unforeseeable events such as theft, vandalism, explosions, fires, falling trees and objects, hurricanes, lightning, and other weather-related occurrences. Collision coverage provides compensation for damages incurred if your boat collides with another boat or object, including submerged ones, regardless of fault. Coverage also extends to instances of boat capsizing depending on your policy.
Let AZ Insurance Team do the shopping for you when it comes to boating insurance. Give us a call today! (480)-535-5709.
Independent insurance brokerage located in Tempe, AZ. We offer auto insurance, homeowners insurance, life insurance, renters insurance, commercial insurance…
Disclaimer: Coverage will vary on state, insurance company, and type of policy.
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Information credit: https://www.progressive.com/answers/what-does-boat-insurance-cover/
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