Getting Your Watercraft Insurance-Ready

February 27, 2023

The weather is warming up and you may already be thinking of the summer. If you’re a boat/yacht owner – or plan on becoming one - there are a few insurance-related things to think about before hitting the waves.

Make sure you have the proper safety equipment: life jackets, a fire extinguisher, floatable seat cushions, towing rope, etc.

Sit down and think about which type of watercraft insurance you will want:

      Actual Cash Value: Reimbursement for the current value of the boat (not the purchased price)

      Agreed Value: Reimbursement for the value of the boat at the time the policy is written.

Have all potential drivers take a boat safety class. This may even provide you a discount on your premiums based on proof of passing the class.

Make sure you have enough liability insurance and consider purchasing an umbrella policy. If you are involved in an accident, there’s a good chance another person or another watercraft is involved. If you are at fault, you will need liability coverage. 

Call us today to get a quote on watercraft insurance. We will work hard to get the right coverage for your toy.