Though you may not be required to have boat insurance, the truth is that anything can happen. It might be a good idea to protect yourself (and your boat) in case you are involved in an accident. 

So, what does boat insurance cover? 

Boat insurance property coverage will help you pay for any damages (or replace your boat) if you are involved in an accident. It will also help if your boat is stolen. In fact, boat property insurance coverage will cover your boat, whether in or out of water. 

When buying boat insurance, you can choose two options. You may want to get paid for the actual cash value. This will take depreciation into account. You may also want an agreed amount of coverage, which is when you and the insurance company can agree on a value for your boat. 

Liability coverage covers liability. This will cover any damage that you may cause to someone’s boat or their property. 

Medical payment coverage will cover any injuries that may occur on your boat. It will pay the medical bills of anyone who was injured while they were on your boat. 

Uninsured watercraft coverage will help you if you are in an accident with someone who didn’t have insurance on their boat. This will help you pay your medical bills, along with the cost of repairing your boat. 

Though you may want to save some money by not getting insurance, the truth is that you could end up spending thousands of dollars if you are in an accident on your boat. 

If you are considering insurance for your boat, you should contact us at Front Range Insurance Services in Littleton, CO.