Insuring Your Boat
When you talk about insuring your main personal watercraft, your boat, there are several basic components to look for in any boat insurance policy. It should include both personal liability cover and coverage for your main vessel up to its full replacement value.
Adding medical payments coverage can give you additional protection in case someone is injured in a collision, by falling overboard, or in some other way. And putting a rider on your policy for the motor, boat trailer, and for fishing and other equipment you keep on board is also key.
If you still owe on your boat, your lender may require you to buy full coverage; and if you’ve made a sizable investment in it, you would also want maximum protection. Otherwise, at least enough cover to stay legal and to adequately deal with potential injuries is imperative.
Jet Ski Insurance
If you own a jet ski or other similar recreational watercraft, you need to insure it as well as your main vessel since the risk of accident is relatively high with these types of vehicles. Jet ski insurance will normally include components to cover medical payments for injuries regardless of who’s at fault, bodily injury liability, damage done to other water crafts, dock damage, damage to the jet ski itself, towing assistance, and uninsured boater coverage.
It’s usually smart to buy enough coverage for total replacement of the jet ski within the first year or two after purchasing it, and for higher priced, brand new models, it’s wise to invest in collision and comprehensive insurance that covers fire, theft, vandalism, storm damage, collision with submerged object, and more.
Finally, you should consider adding special extra coverage for things like damage done due to the negligence of someone borrowing your jet ski or roadside assistance in case you break down while pulling your boat and/or jet ski on a trailer.
Summing Up The Benefits
You want to get out on the water, stress free, and enjoy your new boat or jet ski to the full. But with hundreds of Florida boating accidents occurring every year and dozens seriously injured or even losing their lives as a result, you need adequate protection to have the desired peace of mind.
Also, you don’t want to have to empty your savings account or go into deep debt should your water vessel be seriously damaged. Nor do you want to risk owing on a vessel you can’t even use and can’t afford to fix. A good boat insurance policy lets you protect your financial health in the event of major boat damage without having to forego making the necessary repairs.
For more information on how boat and jet ski insurance work, and on how to build your best possible policy, contact Flagler County (FL) Insurance Agency today!