What Boat Insurance Covers and How Much It Costs

Boat Insurance

Many new boat owners make the mistake of assuming that their boat is covered by homeowners insurance. And even some seasoned boat owners believe that they don't need insurance because they have so much experience driving or sailing a boat. But, as is the case with most optional insurance plans, you won't realize how much you need this kind of coverage until you find yourself without it and it's already too late.

As an insurance company, we hear the question all of the time:
"What does boat insurance cover?"

Boat Insurance Coverage Covers:

» Personal Liability

No matter how much you mop the deck, it doesn’t always stay dry, and slippery conditions are inevitable. Much like homeowner’s insurance, boat coverage will protect you from personal liability should anyone get injured on your boat. 

» Medical Payments

Nothing will ruin your summer season faster than legal disputes and financial ruin. In the event that you are found responsible for the injuries that someone sustained during an accident, your boat insurance will cover their medical expenses.

» Uninsured Parties

The old saying “I trust you, just not other drivers” that parents have been using for years rings true for boats as well. Even if you’re the most experienced driver, the waterways are sure to be crowded with boaters who aren’t. Boat insurance ensures that if you’re involved in an accident that isn’t your fault, you will be compensated regardless of whether the other party is insured or not.

» Miscellaneous Property

If you were to be involved in an accident that was a total loss, you would probably have to replace more than just your boat. Imagine the cost of having to replace all your personal flotation devices, fire extinguishers, first aid and tool kits, anchors and lines, not to mention any personal property you had brought on the boat for the day. Boat coverage ensures that any of your personal property on the boat would be replaced. 

Check out this heroing tale from one of Preferred Mutual Insurance Company's most seasoned boat insurance customers... There's a lot to learn from this story, about boating, boat insurance, and about your perspective on life in general.

For those boat owners who live in the Northeast, boating season is short enough without costly repairs and financial or medical concerns. Make sure you're getting the most out of your boat this Summer with boat insurance from Preferred Mutual Insurance Company. 

Call your Preferred Mutual Insurance Agent today and ask about adding boat insurance coverage to your preexisting homeowner's insurance policy.

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