Q: Is my boat covered under my homeowner’s insurance?
A: In most cases the answer is no, but many people incorrectly believe the answer is the opposite. Some home insurance policies may cover a small boat on property, but in general most large items that have a specific kind of insurance (boat insurance, for example) can only be covered by that type of insurance.
While boat insurance is optional in 48 states (Arkansas and Utah being the exceptions), it is a wise decision to insure your boat. Often boats need to be insured in order to be used as collateral for loans. Many marinas and harbors also require boats docked there to be insured. Boat insurance can be customizable too, offering you the perfect coverage for your situation. Categories of coverage include:
- Liability: This insurance covers you in the event that you are at fault in an accident. Liability insurance can cover damage to property or injury to another person due to the negligence of the operator of your boat (be it the owner or another user).
- Uninsured Coverage: If you are involved in an accident caused by an uninsured boater, this type of insurance can help you cover the cost of any injuries or property damage caused to you by the uninsured vessel.
- Boat Coverage: This type of boat insurance helps with boat repairs, which can often be extremely costly. Boat coverage can cover repairs due to collisions and non-collision accidents (fires, storms, etc.), and can even cover assistances such as towing.
- Medical Coverage: Medical bills can be extremely expensive, and so this type of insurance helps with the cost of treatment for any injuries you may incur in a boating accident.
There are other types of coverages offered by boat insurance companies, but the ones listed above are the main categories. Purchasing boat insurance can save you time, money, and the headache of figuring out what to do when you’ve been in an accident. With the warm weather beginning, you want to ensure that your boat remains running safely and smoothly throughout the summer months. Research what type of coverage would be best for you, and seriously consider purchasing an insurance policy for your boat.
Virginia Personal Injury Lawyers
At our law firm, we are dedicated to helping those injured due to the negligence of another, especially those hurt in a maritime or boat related accident. If you’ve been injured on the water, do not hesitate to contact us for expert legal advice and care.