Like any other insurance, having your boat insured is important too. There are various boat insurance policies with different types of coverages other than the basics. Boat insurance is a necessity as boats are expensive assets. A small damage caused to your boat or by your boat could burn a huge hole in your pocket.

Is your boat physically damaged?
When your boat has been damaged due to sinking, storms, theft, fire or collision, this insurance has got you covered. This policy usually covers permanent components such as motors, anchors, safety equipment, batteries, extra fuel tanks, etc. During the process of getting your boat insurance, be sure to ask if you will be insured for the boat’s actual cash value or the replacement cost.

Has your boat caused damage to another boat?
If you’ve had a little accident where you crashed into another boat or caused any damage to other docks or boats, liability coverage is the one.

Other coverages and discounts
All owners have different usage and requirements. In addition to your basic boat insurance be sure to ask your insurer for coverages according to your needs. We also hear that boaters who complete an approved boating safety course are eligible for amazing discounts.