When should you buy insurance?
April 29, 2022
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You purchased a boat to provide years of personal enjoyment—ensure your pleasure by choosing the right insurance protection.
The Basics
A small boat, such as a canoe or other un-motorized boat, is typically covered under the personal property portion of your homeowners insurance policy.
If you own a larger, faster boat, you’ll need a separate boatowners insurance policy.
It can help you insure your investment in the event of loss due to the following risks:
Boat Insurance
A typical boatowners insurance policy is designed to protect your boat, motor, equipment and passengers. It provides similar coverage to those you typically have for your car including the following:
“If you have several personal watercraft (PWC) vehicles, you may qualify for a multi-boat discount. You can also purchase additional coverage for accessories and hauling trailers to keep all your bases covered.”
Running your boat on diesel fuel instead of gas reduces both your risk and your insurance premium.
A boat fire can be devastating, so having approved fire extinguishers on board can be a premium saver.
Complete an approved safety course through the Coast Guard, U.S. Power Squadrons, Red Cross or other state-administered course.
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The opinions expressed on this site are the opinions of the individual author and may not reflect the opinions of First Underwriters Insurance Brokers. All content appearing on this website is not meant to be exhaustive or construed as legal advice. Consult your licensed broker at First Underwriters to address specifics, possible concerns or compliance requirements.
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