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Owning a boat or jet ski means lots of fun in the sun and a boatload of unique exposures.
The standard homeowners policy may provide a smal amount of protection, but
it won't meet all of your boat coverage needs. Your boat or watercraft needs its own
policy. While there are many types of boat insurance
available to coverage everything from jet skis to small boats all the way up to cabin cruisers,
every policy offers four basic types of coverage. The first coverage is Property Coverage. It
covers physical damage to your boat, motor, trailer, and boating equipment. Boating equipment
can include items such as portable boating accessories used in the operation of the boat,
citizen band radios, radar systems, water skis, and other water sports equipment.
The second coverage is personal liability. If you are responsible for bodily injury to
others or damage to another person's property, this coverage will help pay for those damages.
Third is medical payments coverage. This helps pay for medical expenses incurred by you,
the occupants of your boat, or anyone else hurt as the result of an accident involving
your covered boat. Finally, coverage number four, uninsured boaters coverage. If
you're in a boating accident with someone who doesn't have insurance to pay for the
bodily injury they cause to you, this part of your policy will protect you.
The most common types of boat losses your policy will cover include theft, damage caused
by storms or collision with another boat, sinking, towing or emergency service, and
striking a submerged object or running aground. Before you take to the water, beware of some
of these common types of losses that are typically not covered by a boat policy: losses resulting
from a racing or stunt activity, claims related to a lack of maintenance, or physical damage
caused by birds, animals or rodents. You can save money on your boat insurance
by bundling your boat coverage with your auto and home policies, installing safety equipment
on board or by taking a boat safety course. If you have questions or would like more information
about boatowners coverage, contact your independent insurance agent. They'll help you find the
right coverage to stay afloat!