Protecting Your Boat To The Fullest

Although it may not feel like it yet, spring is right around the corner, which means it is boat show time! Boat shows are a great way to find out what boat manufactures have been building all winter, and maybe even the perfect place to buy a new summer toy. Before you tow home your new boat, it is important to make sure that you have the right insurance policy to provide your new hobby right with optimal protection.

Your existing homeowners insurance policy will provide your boat with some coverage, but probably not enough. Your home insurance policy will only provide your boat with coverage while your boat is on your property, so you will not have any coverage while you are enjoying the open water. Home insurance policies have limits on the amount that they will cover, and it is typically under $2,000. Unless you got a steal on your brand new boat and only paid $1,500, you will need to invest in a separate boat insurance policy.

A separate boat insurance policy will provide you with liability coverage, as well as damage protection for your boat in case you are involved in an accident. There are many coverage options that are available for boat insurance policies, and the more options you include in your policy, the better you will be covered. Typical boat insurance policies will provide coverage for:

  • Damage to your boat, including the sails, hull, motor, furnishings, and machinery
  • Bodily injury or death of another person
  • Damage to other’s property that is caused by your boat
  • Wreck removal and salvage coverage

Contact the insurance experts at North Central Insurance in Elk River, Minnesota for all of your boat insurance coverage needs. As an independent insurance company, we will work with you to ensure that you have the right amount of protection, all at the right price.