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Kentwood, MI 49508

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What does boat insurance cover?

Your boat is more than likely one of your most prized possessions and a financial investment for you and your family. To protect it, you will need to obtain boat insurance.

A boat insurance policy can cover your motorboat, personal watercraft, or sailboat if it is stolen, vandalized, or damaged by a fire, lightning, or other disasters. Boat insurance can also protect you if an accident occurs, and it is deemed to be your fault. It will cover injuries sustained in the accident by your passengers or people in another boat, along with damage to other people’s boats or property.

Your boat insurance policy can cover more specific parts of your beloved boat too, such as the boat’s machinery, equipment that is permanently attached to the boat, the fittings of the boat, furnishings inside your boat, and your boat’s hull.

Property insurance coverage

This is the part of your policy that will repair or replace your boat if it is damaged in an accident, it is stolen, it is vandalized, or if it is damaged in a fire or natural disaster. This type of coverage protects your boat while it is in the water or on land.

To protect your boat or watercraft from various risks, you need to obtain a boat insurance policy. For example, if you accidentally hit another boat while out on the water and damage is caused, the property damage portion of your policy will pay for the other person’s boat to be repaired or replaced. This insurance will also replace your boat if someone steals it. This part of your policy will protect your boat, whether it is docked in the water or parked in your driveway at home. When you obtain property insurance for your boat, you may be able to choose between two coverage types: actual cash value coverage or agreed amount coverage.

Liability Boat Insurance Coverage

In the event you cause an accident to happen that results in the damage of someone’s property or injuries to someone, liability coverage will pay the expenses incurred.

Medical payments coverage

This part of your boat insurance policy covers anyone who is injured in an accident you are involved in with your boat. This coverage will help pay for medical expenses, hospital bills, medications, or X-Rays.

Uninsured or Underinsured Watercraft Coverage

This type of boat insurance covers damages to your boat that are caused by someone who does not have any boat insurance at all or not enough.

To create the best policy for you and your boat, you need to enlist the assistance of a boat insurance agent like the trusted agents at the Dalessandro Agency Inc. in Grand Rapids, MI. Contact our office to have your questions answered and learn more about your options.