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Boat Insurance

The right kind of boat insurance coverage you need is dependent upon a few different issues. Insurance for a small fishing vessel, for instance, is a very different matter from insuring a large catamaran or spacious yacht. But generally, there are three kinds of coverage included in a standard boat insurance policy:

  • Injury liability for costs related to the harm of another individual.
  • Liability for costs related to damaging someone’s property.
  • Physical damage liability for damage to the insured’s own boat, trailer or other property
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Additional coverage in order to have complete protection for yourself and your property is typically a good idea. Here are a few examples of additional boat insurance coverage:

  • Property coverage for gear, life preservers, oars and anchors
  • Insurance for fishing rods, tackle and fishing nets

  • Coverage of towing costs if your boat becomes inoperable

  • Coverage for medical expenses for medical and funeral arrangements for yourself or passengers

  • Uninsured or underinsured boater coverage if you have a collision with another vessel without insurance or with insufficient insurance

  • Like with other forms of insurance, the amount of reimbursement you have in event of an accident is determined when you purchase your boat insurance policy. Be sure to discuss your concerns and questions with an Árachas Group agent who can confirm that you are carrying adequate boat insurance

boat insurance

Any Watercraft Can Be Insured

Just about any kind of watercraft can be insured. Every type of boat – from a kayak to a speedboat – can potentially be stolen, damaged or involved in an accident that results in injuries.

Even if your vessel is in dry storage, it can possibly be vandalized or damaged by fire or weather.

Be certain to consider the degree of coverage you’d require to fix or replace your boat if it’s damaged or stolen – ask your Arachas Group for assistance in finding the right coverage so you can enjoy peace of mind when you’re out on the water.

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