Boat owners face many of the same risks as car owners. Like auto insurance, boat insurance can provide coverage for you, your boat and the liability you may face for bodily injury and property damage to others. In a standard boat insurance policy, incidents and accidents are covered while your boat is in the water, as well as when it’s on dry land.
Each state has their own laws regarding whether or not you must have insurance on your boat. Generally speaking, you are required to have boat insurance if you financed your boat or have it moored or stored in a marina. Even if you are not required to purchase a policy for your boat, there are plenty of good reasons why you should still consider buying coverage. Following are five possible scenarios when you’ll be glad that you decided to buy boat insurance.
1. You are involved in a collision or accident with another boat
It's the weekend and the lake is crowded with inexperienced boaters. While you are relaxing in the sun and sipping on a cold drink, another boater rams into your boat. Nobody is hurt, but there is a gaping hole in the side of your boat. The other guy is uninsured, but fortunately, your boat insurance can pay to repair the damage.
2. You hit the dock and cause damage to your boat
It is your fault, but you are still covered. Unless you were drunk or intentionally operating your boat in a grossly negligent way, your claim can be honored.
3. Your invited guest slips on the wet deck and breaks his arm
A wet deck and a little too much partying can lead to a fall and a fractured forearm. Insurance helps pay for an injured guest's medical bills and protect you against personal liability.
4. Your boat is vandalized
You keep your boat on the side of your house and when you go out in the morning and see it, you can't believe your eyes. Your prized possession has been trashed by vandals. Yes it is upsetting, but at least you can file a claim for vandalism and get paid to fix the damage.
5. Your boat sinks and is a total loss
It's a hurricane and the seas are rough. The wind howls and the waves come crashing over the bow. Your boat sinks and is a total loss. File a claim with your agent and you can be reimbursed for your loss.
Get the coverage you need. Call Casey Insurance Group at (888) 537-1412 for more information on Miami boat insurance.