In some situations, your home insurance policy will cover a boat you own; however, much of the time, boat insurance within home insurance does not go far enough. Coverage is often limited in amount and may not cover you for exactly what you need.
When Do You Need Boat Insurance?
If you feel your canoe or small-engine boat requires coverage because of its value or preciousness, then, by all means, ensure you are protected. On the other hand, those who most need boat insurance are those who have the following types of boats:
- Jet boats
- Large sailboats
- Anything that will go faster than 25 mph
- Personal watercraft (WaveRunners)
What Will boat Insurance Cover?
All boat insurance policies are different, so be sure to speak directly with an agent to know what your policy covers specifically. For the most part, however, boat insurance will cover:
- Damage to permanently attached boat equipment
- Destruction or damage from theft or vandalism
- Destruction or damage from collision
- Destruction or damage from fire
- Injury liability and property damage liability
- Medical payments for you and your passengers
Cost of Boat Insurance
Based on what you’d like to be covered, the cost of your boat insurance premiums will naturally vary. However, you can get discounts in some cases. Most of the time, insurance companies will offer these ways to save money on your boat insurance:
- Not having made previous claims on your boat insurance
- Safety course training
- Bundling insurance with the same company (having other policies for home, car, etc.)
- Owning a boat powered by diesel
Need Boat Insurance in Detroit, MI? Contact Premier Insurance Agency Today!
Premier Insurance Agency is proud to serve the residents of Detroit, MI and can undoubtedly help you find an insurance policy with the coverage you’ve been trying to find.
Stop by our nearest office location or feel free to give us a call to learn more about your options!