Whether you are just starting to consider buying a boat, or if you have been a devoted boater for years, it is important to familiarize yourself with the benefits of boat insurance. Although boat accidents do not occur as frequently as auto accidents, it is just as important to protect your boat in the event of a loss.
If you own a boat or plan to buy one, Amco Insurance lists down 4 benefits of having boat insurance. As a reliable provider of insurance services in Hialeah, Florida, we want you to better understand how having boat insurance can help you protect your investment in your boat.
- Coverage is Flexible
With a broad range of liability limits, deductibles, and additional coverage options to choose from, boat insurance rates and coverage are quite flexible. A typical boat insurance policy includes deductibles for property damage, theft, and medical payments, but take note that rates can vary and may affect your premium accordingly. Boat owners also have the option to purchase an umbrella policy to get additional liability for their boat, as well as their car and home.
- Liability Coverage
Even top boaters have a bad day. Accidents can happen in the water and if you are held accountable for a boat accident that involves another watercraft or person, you will need liability insurance to help pay for the damages. Considering that boat accidents can be very expensive, this is an important coverage and benefit of having boat insurance.
- Uninsured Boater Coverage
Not every boater is insured. Unfortunately, the damage is still real even when the at-fault party is not insured. On such occasions, having a boat insurance policy with an uninsured boater coverage can protect you and help you pay for the damage.
- Property Damage Coverage
Considering how expensive property damage to your boat can be, one of the biggest benefits of boat insurance is its ability to pay for this type of damage. On top of boat damage, you must also consider the costs associated with transporting your boat for repairs if there are no experienced boat smiths in your area. These costs can quickly add up but fortunately, having boat insurance will prevent you from having to pay for such expensive bills alone.
If you own a boat or plan to buy one, you should seriously consider purchasing a boat insurance policy. It is the best way to protect your investment. Moreover, it can provide you with peace of mind, allowing you to enjoy boating without worrying about potential accidents.