Do You Really Need Boat Insurance?

- By Tenisha Sanderson 

Boating season is in full effect across Colorado, which means it is only a matter of time before someone sinks their boat, their trailer or both! Hopefully not, but, if it does happen, it is important to make sure your boat and motor are covered under an insurance policy. If they are not, you’ll be on your own trying to get them pulled up from the murky depths.
Often times, boat owners forget that boat insurance is just as important as car insurance. In fact, you may even be more at risk on the water. No matter how experienced or cautious you are, it is hard to protect yourself against careless, inexperienced boaters or even nature. On the water, boat insurance gives you the additional protection you need. If you have a boat accident that isn't your fault, file the incident on the other party's insurance policy. If the other boater does not have insurance OR the other party's insurance gives you problems, you can fall back on your policy to fix your damages if you have physical damage coverage. Physical damage coverage provides coverage for things like theft, wind, collision, sinking and hail storms, for example. Your physical damage coverage will also help you recover your boat if it happens to sink.
Just as important as your physical damage coverage is your liability coverage (maybe even more so!). If you have a guest on board who slips and falls, or you collide with another boat and injure a passenger, who pays for the medical bills? Without boat insurance, you would be responsible for medical bills and pain and suffering of anyone injured, which could end up in amounts greater than the boat's value. Liability coverage on a boat policy would cover injuries to others, protect you against lawsuits, fix damage done to other boats and even cover any structures you might run into.
As a boat owner, isn't this reason enough to have a boat policy? The cost is so low (most clients are shocked when they hear how low!) for the protection and peace of mind to enjoy your time, there’s really no reason NOT to have it. Not Call our office today to talk more about your watercraft coverage options!