Boat Insurance
There are so many factors that can affect boats when they are on the water. The water itself, the tides, other boats, even animals can disrupt a pleasant boat journey. Boat insurance protects your boat and protects your from any liability from any accident caused by your boat. Boat insurance is absolutely necessary for anyone who spends any time on the open seas or quiet lakes.
Who needs boat insurance?
There is no legal requirement for a sailor to have boat insurance, though incidents involving boats, the general public and other vessels are numerous and the great majority of ocean-goers do not have sufficient coverage to cover themselves or the property. This should be a strong reason to cover yourself while you are on the water.
What typically does boat insurance policy cover?
Boat insurance typically covers damage to every aspect of the boat from the mechanics to the body and also the furniture. Any item that normally stays on the boat is covered from accidents, vandalism and extreme weather. As your dinghy is recognized to be part of your boat it is also covered by your standard policy.
You are also covered for any damage against liability caused by your boat to another boat or dock. You are also covered against any injury, or even death, caused to another person in that same accident.
What typically does boat insurance policy not cover?
Surprisingly if your boat is damaged by an uninsured boater then you are not usually covered. So make sure you include that as a feature of your policy as many holiday sailors are uninsured, or insured sailors let their uninsured friends take charge.
Boat insurance does not normally cover injury caused to a passenger trying to board or alight the vessel but more insurers are starting to cover this as standard.
Additional insurance products that policy holders might need in this area
Your trailer that carries your boat between the storage point and the water is not typically covered but your boat on the trailer will be. You will need extra coverage to include the trailer but if this is not possible you may be able to include the trailer as part of your motor insurance.
Boat insurance normally covers incidental medical expenses caused any accident. You will need health insurance to cover costs beyond that. Consider travel insurance if your boat usage is part of a holiday as you may need significant assistance if you are in a foreign country.
Additional coverage for a boat insurance policy
As with all other kinds of insurance you can be very comprehensive about the level of cover you take out. You can get all your personal effects insured as well as the personal effects of any guests. You can have rented equipment, such as fishing and diving equipment, covered. You can include your insurance to include your entire family and not just you. Of course, for every addition you request, your premium will go up. That said you cannot put a price on piece of mind.
What will boat insurance typically cost?
Insurance varies depending on the type of insurance you purchase. You can normally select from Individual, Couple, Family and Company Insurance.
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