Personal Watercraft Insurance, Choosing a Policy
It is important that you obtain a separate insurance policy for your boat. Do not depend on loan gap insurance, homeowner’s insurance, or vehicle insurance to provide coverage for your boat. You will need to research prospective insurance policies and choose the policy that provides the best coverage for a fair and affordable rate. An insurance policy should include:
Liability Coverage: This is of utmost importance. Liability coverage will provide you with protection should a passenger become injured on your boat. You will also be protected in the event that damage or injury occurs as the result of a boating accident.
Personal Injury Protection: This component of insurance for boats provides financial protection for injuries, including medical payments and loss of income reimbursement.
Collision and Comprehensive Coverage: Similar to the coverage offered by your car insurance company, these provide protection for damages and repairs that may be necessary due to an accident.
