What a great place to be—the open water. Whether you’re taking a trip on the lake, down the river or into the ocean, boating is a great way to enjoy the outdoors and make memories.
The memories made in the great outdoors with family or friends will be cherished for years to come thanks to your time on the water. Fishing, water skiing, wakeboarding, tubing or just a relaxing day; the possibilities are endless.
But what happens when things go wrong on board? Boats are costly investments that can rack up maintenance bills. This is where boat insurance can be your best friend.
What is Boat Insurance?
Boat insurance is a policy that covers your boat in the event something unexpected happens. It’s important to note that not all boat insurance policies are the same. For instance, some policies only cover standard boats and not your other types of watercraft.
Other watercraft you may want covered include powerboats, pontoons, houseboats, jet skis, wave runners or even commercial sailing vessels. Speak with your insurance agent to get more detail on what your policy will cover.
What to Expect with Boat Insurance?
Now that you know what boat insurance is, you might be wondering what to expect from your boat insurance or what is covered. A policy may include coverage for your boat, its equipment or injuries to any guests who are on the boat as well.
At Sanford Insurance, our marine insurance covers the following:
- Property, including boat, motor, trailer, safety and lifesaving equipment, plus personal effects
- Towing to recover a stranded boat
- Optional uninsured boater coverage
- Automatic unattached equipment
- Liability coverage
Why Do I Need Boat Insurance?
The unexpected is bound to happen at some point and it’s better to be prepared. You may have damage to the hull of your boat, need to tow it in or have something happen at the dock. There are many reasons why you would need marine insurance. Some notable ones include but are not limited to:
Colliding with Another Boater or Objects
If you collide with another boater or object, there can be significant damage done to your boat. Insurance is necessary to help cover the costs of your boat, the other boater’s vessel or object/property damage. Additionally, if you collide with an uninsured boater then you will certainly need insurance.
Damaged When In Storage
Not everyone has their boat in the water year-round. Many people store their boats in the off-season. Damage is typically less common in storage versus on the water, however, accidents like fires can still occur.
Theft
Theft of your vessel is always a possibility, especially if it is docked at a public marina. Boat insurance is a must to help mitigate the risks associated with boat theft.
Medical Costs for Guests
The more the merrier—except for when guests get injured on board. Without boater’s insurance, those family or friend-group trips on the boat can become troublesome if an accident occurs. Marine insurance is a great way to help cover the costs of injuries to your beloved guests.
Your Bank or Marina May Require It
Banks that offer boat loans often require you to have marine insurance if your boat is listed as collateral. Marinas may also require insurance in order to dock your vessel there.
Reliable Boat Insurance for Watercraft Enthusiasts in Richmond, VA
You go on the boat to get away from the stressors of life and enjoy the outdoors. So you’ll want to protect your peace on the water and the vessel that gets you there.
Boat insurance can keep your watercraft covered, prepare you for unexpected events and keep your boat where it belongs—on the water.
Sanford Insurance is a reliable insurance company in Richmond, Virginia offering customized boat insurance to meet your watercraft needs.
Contact us today and learn more about how our policy can keep your boat afloat.