When you are out on the sea on your boat, you leave all your worries behind. You don't want to worry about what would happen if your boat was involved in any accident. Boat insurance protects you and your boat against accidents, vandalism, and insures you against liability. That means smooth sailing without any warning!
What does boat insurance cover? Insurance needs differ depending on the type of boat or watercraft you own. Your policy will explain in detail what is covered and what is specifically excluded. But these coverages generally apply for boat insurance:
Protection From Physical Damage, Perils, and Liability
Most policies cover physical damage to the hull, sails, machinery, furniture, and most other equipment that is normally used on board. Most perils are covered including vandalism, malicious mischief, and even damage that results from latent defects of workmanship.
You are also insured and protected against liability losses. You are covered for damage to another boat or dock, and for bodily injury or death to another person as a result of your negligent operation or ownership of your boat.
In the event that you, your guests or family are injured while on board, the policy provides payment for incidental medical expenses. The coverage also applies if someone is injured boarding or getting off your boat.
Under most boat insurance policies, the boat trailer is covered against physical loss or damage from any external cause.
The policy coverage provides compensation liability for injury to persons employed by you who may work on your boat, but are not crewmembers. Mechanics, carpenters, painters, and cleaners are included in this category. To be covered under this policy, they cannot be employed by your boatyard, and the federal Longshore and Harbor Workers' Compensation Act must apply to them.
You may purchase optional coverages for your boat as well, such as protection against any damage caused by a boater who is uninsured, coverage for your personal property, and coverage for your own fishing equipment.