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In California, it isn’t required to have boat insurance, but it is always a good idea to carry some sort of insurance in case of an accident. If you just spent $10,000+ on a boat, the last thing you want is to have to fork out more money for repairs or other liabilities.
Why You Need Boat Insurance
You may have heard that your home insurance policy or renter’s insurance policy will provide coverage for your boat. While it’s true that some policies will provide minimal coverage, it probably isn’t substantial enough to cover the entirety of your damages. Furthermore, most homeowner’s and renter’s policies only cover boats that have no engine, or a very small engine.
Just like your car, your boat should have an entirely separate policy. That way, if someone is injured on your boat or you get into a boating accident, then you have coverage for the medical bills and damages to your watercraft.
The Differences Between Boat Insurance and Auto or Home Insurance
Your boat insurance is mostly a mix between auto and home insurance:
- Like home insurance, you are covered for damages that occur if someone is injured on your boat
- Like auto insurance, you are covered for damages that occur if your boat injures someone or causes impairment to other boats and docks, as well as your own boat
You should be aware, however, that your boat policy may suspend coverage for a certain season or period of time. For example, your policy may only be valid from April to October. If you take out your boat in November, then you are not covered by the policy. So make sure you double check your coverage dates before going out on the water.
Is your boat covered everywhere?
Your boat may be covered out of the water, but not by your boat insurance policy, oddly enough. Your car insurance policy trumps your boat insurance while on land. The problem is, that the auto policy will only cover bodily injury or property damage during transport. If your boat is parked or stolen, then it may not be covered.
We recommend that you take out an umbrella policy to cover all opportunities for risk.
Another thing to be aware of is that there is probably a navigational limit on your boat. You are most likely covered in the U.S. or Canada coastal waters, but may not be covered elsewhere.
Get Boat Insurance Advice from Our Glendale Insurance Agents!
Boat insurance can be a little confusing for first-time boat buyers, so give our insurance agents a call to discuss your situation. We can find the perfect policy to suit your needs and your budget.