Customized Coverage Available

Just as there are various types of boats/watercraft, there are also several different types of Watercraft insurance coverages available, including:

• Hull insurance: Covers damage to your boat and any damage your boat causes to the property of others. This includes the cost of boat repairs. If a total loss occurs, Hull insurance will pay the agreed value of the boat.
• Third-Party Liability insurance: Covers damage your boat causes to the property of others. It will also cover any incidental damage caused, such as liability from fuel spills, towing, medical expenses, and any necessary rescue operations. Your marina may require you to carry a third-party marine liability policy.
• All Risk Policies: Typically covers any risk that is not specifically excluded in the Boat insurance policy such as ice damage, freezing, pollution liability, reef damage liability, and mechanical breakdown.
• Actual Cash Value or Agreed Value: Refers to the boat policy package type and whether it will pay the actual cash value of your boat or an agreed value predetermined when you buy your policy. An actual cash value may cost you less but an agreed value policy will secure the amount you can receive for your boat if a total loss occurs regardless of the depreciation, although in some cases partial losses may be depreciated.
• Yacht Insurance: Covers vessels 27’ or larger. A special policy is needed because these larger vessels typically have more exposure than a smaller “boat.”
• Boat Club: Covers all boat club members when operating a vessel for property damage and liability.

We will discuss what coverages you need depending on your specific needs.