The sun is shining here in Southern Illinois and it's 85 degrees on this beautiful day in May! What a great day to spend on the water! Before you pack your lunch and fishing gear, make sure your watercraft has the right coverage to protect you from financial harm.
What Does Boat Insurance Cover?
Like the automobile policy, a boat (watercraft) policy is made up of different coverage parts that will respond based on the type of accident you have and can be used for different types of boats and jet skis.
- Bodily Injury Liability - Collisions happen on the water too! Bodily Injury Liability pays for medical bills, loss of income, and legal expenses if you have caused injury to a person with your watercraft.
- Property Damage Liability - Covers damage to a boat dock, other property or structures, or someone else's watercraft.
- Comprehensive & Collision Coverage - This is coverage for damage to your boat, like theft, accident, vandalism, etc.
- Additional Coverage Options: Many insurance companies have optional coverages to enhance your coverage. Some examples are medical payments, roadside assistance, equipment, and injury or damage from other boaters who are not insured or don't have enough insurance to cover your damages.
It's important to talk with a licensed independent insurance agent who can discuss the benefits and costs of boat insurance in your area. Many waterways require watercraft insurance to operate, but some do not. You want to be prepared to protect your investment (your boat) and your financial future while you enjoy your time on the water.
At M & M Insurance Agency, Inc., we are happy to help guide you through the coverage options and find a solution that's right for you. Contact us now for more information.