Boat Insurance policy is designed to help protect your boat from damages and also offer you liability protection in the event of a financial loss related to your boat.
Whether your boat is a twenty-foot pleasure boat, a sailboat, or a luxurious yacht, LoPriore Insurance can find coverage that provides property damage coverage for your watercraft as well as liability protection for the unforeseen accidents that occur. Many companies offer optional coverages that allow you to tailor your policy to your needs.
Any watercraft owner of the following listed watercraft's should purchase a watercraft boat insurance policy.
Bowrider, Cuddy cabin, Center consoles, Walk around, Ski boats, Pontoon boats, Jet boats, Personal watercraft, Sailboats, Bass boats, Fishing boats.
Property coverage: Boat insurance is built to protect you from the loss of a prized possession and specific risks. Property coverage will assist you in repairing your boat should an accident damage it. It can also help replace your boat should it be stolen. The great thing is that this coverage can protect your boat, whether you are on the water or dry land.
Liability coverage: Should you be at fault in an accident and that accident damages either another boat, somebody’s personal property, or causes injury to someone who is not in your boat, your liability can be covered under a boat insurance policy. We can discuss details to make sure your insurance policy is built to cover your exposure.
Medical payments: This is where coverage for medical expenses comes in for you and your passengers. This coverage will assist in covering costs for you and your passengers in the form of hospital bills, x-rays, medication, etc. You can enjoy yourself on the open water, knowing that your policy is built to protect you and yours.
Uninsured watercraft coverage: Should you suffer damage and it is determined that the party at fault does not have coverage, you can be covered under your insurance policy. Whether it is damage to your watercraft or injury to you or your passengers, uninsured watercraft coverage is here to protect you.
The cost of your policy depends on a few details about your boat and personal experience. These details will be considered in the cost of your policy.
When you're transporting your boat, the trailer attached to your vehicle isn't covered in exactly the same way as your car. For instance, if your boat causes damage to another vehicle, your liability limits could cover the costs. However, if the trailer becomes detached from your vehicle and causes damage, your auto insurance would likely fail to cover the damage. Additionally, if another car causes damage to the boat, your auto insurance wouldn't cover the damages.
Massachusetts state law doesn't require you to have boat insurance to operate your boat. However, local laws might require you to have coverage. For example, most marinas and docking areas will require you to have liability insurance. Liability is always a sensible option to ensure coverage from possible liability claims while operating your boat in any situation.
While it might seem unnecessary to continue coverage while your boat is being stored, you still face potential risks for damage. Theft and fire risks are still high for boats during the winter months and you would be required to pay out-of-pocket for the loss if you don't have active insurance coverage.
It's highly unlikely that your boat's value is lower than your insurance premiums. Besides, your financial risks don't end at the cost of replacing your boat. Perhaps one of the most valuable parts of your boat insurance is liability, which will cover medical bills if someone is injured in an accident.
Boat insurance provides valuable protection and peace of mind for every responsible boat owner. Get in touch to find out how to protect your boat and passengers with a customized boat insurance policy from LoPriore.