There are few better ways to spend a weekend than taking waves on your personal watercraft or casting lines for trout off the side of your fishing boat. If you are the proud owner of a boat or other type of watercraft, chances are you have a lot wrapped up in your investment. It makes sense that you would want to protect your purchase with quality, top-of-the line watercraft insurance from one of the leading coverage providers right here in Arizona.
Imagine hosting an afternoon with friends drifting on your pontoon boat. Suddenly, a drunken boater crashes into your craft, causing severe damage and injuring some of your guests. Unfortunately, the responsible party is uninsured, leaving you responsible for your own boat repairs and medical payments for injuries. Could you afford the sudden and unexpected expenses? With the right boat insurance, you could breathe a sigh of relief.
Keep in mind, not all boat insurance is created equally. In fact, coverage can vary wildly depending on the type of policy you purchase and the types of coverage you select. Choosing a sub-par watercraft addendum to your homeowners insurance, for example, is not likely to deliver the same type of all-around coverage that you might find from a policy specifically designed for boat and personal watercraft owners.
Watercraft Insurance Coverage
When you begin your search for coverage, be sure to search for a policy that includes all of the features you want and need, including:
Physical Damage
When you accidentally run your personal watercraft into an embankment, you might find the repair costs are out of your budget. With physical damage insurance, there is no need to stay out of water for long. This insurance helps cover the cost of repairs or replace your vessel completely following a covered loss.
Watercraft Liability
You are liable for the physical and bodily injury losses you cause others and the environment while on the water. Liability protection helps pay the repair and replacement costs of others, as well as medical bills, lost wages, litigation fees, and settlement costs in an accident for which you are at-fault.
Uninsured/Underinsured Boater
When you are injured or your boat has physical damage caused by another boater, the person who is at-fault is responsible for your repairs. If that person’s coverage limits are not enough to cover your claims, uninsured/underinsured boater protection can help fill in the gaps.
In addition to these basic watercraft insurance protections, you may also be interested in a number of other features that can make boat ownership more secure. For example, this might include insurance for your trailer or boat lift, as well as coverage that pays for towing and boater assistance.
The cost of your premiums is largely dependent on the size, type, and value of your watercraft. Be sure to talk with your agent about ways you might qualify for discounts on your premiums. Boat owners who insure multiple watercraft, combine coverage with another type of policy, take a boater’s safety course, or implement certain protective devices like a theft recovery system may all qualify for watercraft insurance discounts.
