Understanding Boat/PWC Insurance
Hitting the open waters is a great way to spend time with your family and take a break from your everyday life. But you never know when accidents could happen, so having boat/PWC insurance is key in making sure that you are protected from any potential dangers on the open waters. Boat insurance isn’t required by law in most states, but it can be required by other private parties. For example, if you were to rent a boat, many lenders may require that you purchase insurance to safeguard the boat you are renting.
What is Covered Under Boat/PWC Insurance?
This insurance policy covers a wide variety of watercraft including jet skis, wave runners, cabin cruisers, pontoons, sailboats, and more. While your homeowners insurance may offer you some coverage for your watercraft, it only covers liability and won’t protect your assets from certain damages that occur. Thankfully, Boat insurance comes with many specialized coverages to help provide for emergency towing, replacement of boat accessories, bodily injury, and reimbursement of a totaled watercraft.