Most vehicles benefit from insurance coverage. And this includes your boat. Boat insurance provides coverage for collisions, liability, and other damages. Your state might require you to have coverage for your boat. But even if it’s not required, you’ll find that coverage is beneficial.
If nothing else, you should consider liability. That helps you pay for damages or injuries that you cause to someone else while using your boat. For example, if you hit another boat with your boat, liability insurance pays for damages to the other boat. Your boat can also have collision or comprehensive insurance. Collision coverage is for accident-related damages. Comprehensive can cover damage from fire damage, theft and more.
You will have to pay a deductible when you file a claim. Consider that when you purchase your policy. If the deductible is too high, you might have trouble paying it. You never know when you might have to file a claim. Boat insurance will help reduce out-of-pocket expenses, but it’s useless if you can’t pay the deductible. Get a deductible and a premium that you can afford. The purpose of boat insurance is to help, and not to stress you out over the expense.
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