Leave your worries at the dock.
Boat insurance is for people who own a boat. The boat policy has multiple different coverages. Most commonly coverage falls into four different categories: Liability, Physical Damage, Medical Coverage and Uninsured Motorist Coverage.
Bodily Injury Liability and Property Damage Liability insurance provides coverage for damage caused to others if you’re at fault in a covered loss; whether you injure them and/or damage their property. This insurance can include the services of an attorney to defend you if sued.
Physical Damage provides damage to your covered boat if it has a covered loss. This coverage is not a requirement by the state but can be required if the boat is financed. There are two parts under most policies that you can purchase; Comprehensive and Collision.
- Comprehensive coverage helps pay for covered damage to your boat that is not caused by a collision. Common comprehensive losses include theft, vandalism or storm damage.
- Collision coverage can help pay for damage the covered boat if your boat hits another boat or object or gets hit by another boat.
Medical Coverage provides coverage for you and/or your passengers if you are in a covered loss in a covered boat. Medical Payments pay regardless of fault.
Uninsured/Underinsured boater coverage provides coverage in the event you are not at fault in a covered loss for injuries you and/or your passengers sustain in an accident and/or damage to your boat. Coverage will only apply in the event the other party doesn’t have insurance (uninsured) or your damages exceed their policy limits (underinsured). Uninsured / Underinsured Boater is an optional coverage in most states and only certain states offer the Uninsured Boater Property Damage Coverage.
*There are many other coverages that may be available with some carriers but these are the industry standard coverages.