Purchasing a boat or watercraft is a very large luxury item. But before signing the dotted line on the paperwork, it's important to familiarize yourself with the benefits of having boat/watercraft insurance.
Newcomers to the Pennsylvania boating community often ask if it's required to have some form of boat/watercraft insurance before heading out on the water. The answer is yes. The coverage is like automobile insurance as the policy should be designed to protect everyone traveling on the boat or watercraft.
The policy agreement should be flexible enough with a wide range of liability limits that come with various deductibles and additional coverage options. Experienced boat owners have an umbrella insurance policy that offers the option to purchase additional liability coverage for their boat or watercraft.
Boat/Watercraft Insurance Covers Property Damage
One of the benefits of having boat/watercraft insurance is the policy should cover property damage done to the water vehicle. The repairs are often very costly as you must account for transporting of the boat or watercraft to a mechanic's boatyard. Quickly, these expenses will add up, but holding a boat/watercraft insurance will prevent you from securing a personal loan to pay for the damages.
Seek Additional Liability Coverage on Your Boat/Watercraft Insurance Policy
Much like traveling on a roadway, boats and watercraft can collide into one another on the water. If insurance investigators deem you at-fault for the accident, then you better have additional liability coverage on your boat/watercraft insurance policy to pay for any possible damages that have occurred. If any of your passengers are injured and need hospitalization from the accident, then the added liability coverage should cover the medical expenses and any loss of pay from work due to their recovery from the injuries. This addition to your boat/watercraft insurance policy should prevent you from going into financial demise.
Speak with an insurance specialist from Jillian O'Brien Insurance as we offer a wide variety of boat/watercraft insurance policy and additional liability coverage options. We will work to create a policy that keeps you protected on the water within your budget.
While our office is located in Pennsylvania, we are licensed in the following states: Arizona, Colorado, Connecticut, Delaware, Florida, Maryland, North Carolina, New Jersey, Ohio, Pennsylvania, Texas, Utah, Virginia and West Virginia.