August 22, 2016

What Does Boat Insurance Cover?

Boat Insurance

Boat coverage, as offered by Tulsa boat insurance companies, typically protects a watercraft from otherwise unexpected damage. While Tulsa boat insurance providers will typically cover any boat with a motor, boat coverage will not apply to items such as kayaks, canoes, or any other personal watercraft that isn’t already specifically defined. In the case of a smaller personal watercraft, boating enthusiasts will typically need to look at their homeowner’s insurance policy for additional coverage. For everything else, though, boat insurance can help protect against several types of damage, as outlined below.

Collision Damage

Protection against collision damage applies to both repairs to a boat, as well as its replacement. Depending on the insurance provider, collision damage coverage may also apply to any wreckage clean-ups.

Property Damage Liability

This coverage applies to any damage incurred to another person’s property while someone is on their own boat. This can also include damage to public structures, such as piers or docks.

Bodily Injury Liability

Although similar to property damage liability coverage, bodily injury liability coverage is distinct enough to warrant its own section. What this does is effectively cover someone in the event that they cause damage to someone while on their boat. The scope of this coverage can extend well beyond hospital bills into paying for lost income, pain and suffering, and any other legal expenses that might develop.

Comprehensive Coverage

Comprehensive coverage helps to protect a boat in the event that something terrible happens outside the scope of the other coverage types. If someone causes damage while on their boat, but without a collision, then comprehensive coverage can help to offset the associated costs.

Additional Options

In addition to these basic boat insurance components, many boat insurance providers also include additional options for people interested in having coverage for fishing equipment, accidental oil spills, additional medical payments, or roadside assistance.

Every boating enthusiast should become familiar with the qualities of good boat insurance, so that they can spend less time managing their finances after an accident, and instead spend more time out on the water.

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