Category: Boat/Watercraft Insurance

If you enjoy a leisurely cruise along the Charles River or an adventure ride in the Boston harbor, local area boat owners are no strangers to the allure of the open waters.  

Boston Boat Insurance Basics

Many Boston boat owners don’t know that boat insurance is mandatory for all boat owners with an open loan on their vessel. A sudden storm or collision with another vessel on the water can lead to costly property damage or personal injuries. 

Boat insurance can offer financial protection when these unforeseen events happen. A comprehensive boat insurance policy in Boston can help you cover the costs of boat repair or replacement in the event of a total loss. 

Protect your floating investments with insurance from Smoller Insurance Agency in Boston, MA. Our licensed insurance agents can provide you with a variety of different coverage options to meet your boating insurance needs and explain your policy benefits. 

What Do Boston Boat Insurance Policies Cover?

Having boat insurance ensures that you comply with state requirements and provides peace of mind when boating accidents happen. Boaters who opt for basic liability coverage protect themselves against legal liability claims from other boaters and property owners if someone is injured while they’re driving their boat. 

Comprehensive and collision boat insurance protects your vessel and passengers from collision and non-collision-related boating mishaps, including accidental collisions with other boats, decks, buoys, and other stationary objects. 

Full-coverage boat insurance option can mitigate the effects of boat theft or damages to your boat caused by natural disasters like hailstorms and severe thunderstorms. 

We Are Here To Help

Talk to a licensed insurance agent at Smoller Insurance Agency in Boston, MA to learn more about your individual coverage options and deductibles based on your boating history and other factors. 

Boat owners shouldn’t assume that they should keep the same boat insurance policy indefinitely. In certain situations, boat owners may need to update their policies. Smoller Insurance Agency is an insurance company that boat owners in Boston, MA can turn to when they are interested in purchasing boat insurance or changing their boat insurance coverage.

The following are three signs that it’s time to update your boat insurance policy:

You want to be able to navigate in an area that’s not covered under your existing policy

Boat owners always need to be aware of the navigational limits of their policy. If they want to expand on these navigational limits, they will have to discuss this with their insurance provider. Expanding the navigational limits of your policy is likely to result in an increase in your premium costs. 

You’ve bought a new boat

Your boat insurance policy is specifically underwritten for the particular boat you own. If you replace your boat or want to add a second boat to your policy, you’ll need to let your insurance provider know so that your policy can be updated. 

You’ve relocated to another state

It’s important to discuss a move out of state with your boat insurance provider.

Your boat insurance provider might not provide insurance in the state to which you’re moving. In this case, you’ll have to purchase boat insurance from a different company. 

Get The Right Coverage Today

We’re here to help boat owners in Boston, MA in need of coverage. You can call us at Smoller Insurance Agency to get a quote on boat insurance. You can also get a quote on a boat insurance policy from our company by getting in touch with us online. 

Don’t rock the boat by going without boat insurance.

Smoller Insurance Agency knows that boat insurance isn’t splashy. But it is a necessity. Serving the greater Boston, MA community, our experienced team offers safety and security while you cruise the waterways.

Here are five facts about boat insurance:

Boat insurance covers any type of watercraft

Boat insurance is unique. It applies specifically to motorized watercraft. Although every policy will vary, nearly all boat insurance policies shield against loss, damage, and damage through comprehensive and collision coverage.

But the benefits extend much further

Boat insurance isn’t just for your boat. It grants personal protection for you, your guests, and other motorists. Liability provides these safeguards. If you are found to be at fault, costs associated with bodily injury or property damage would be covered.

Boat insurance isn’t mandated in The Bay State

Like most states, boat insurance isn’t required in Massachusetts. But that doesn’t mean it’s not a good idea. Owning a boat without it is risky. There is little downside to maintaining full coverage.

Boats aren’t covered by other plans

Some homeowners mistakenly believe they are already protected. Your homeowners’ policy may overlap with boat insurance but just barely. At best, this coverage is limited. Avoid falling into this trap. Only a specific, designated boat insurance plan will be sufficient.

Boat insurance is needed all year long

Boat insurance isn’t seasonal. This is another common misconception. Even in storage, accidents, damage, and natural disasters can occur. Canceling or letting your policy lapse can be costly in the long run.

Contact Us Today

Inadequate coverage can leave you stranded. Let Smoller Insurance Agency in Boston, MA throw you a line. Our agents can craft a designated boat insurance policy that’s perfect for you. Set up an appointment today.

Are you in the market for boat insurance? Speak to Smoller Insurance Agency serving the area of Boston, MA to find out more about the boat insurance options available to you.

Boat insurance is there to protect your watercraft assets when homeowners insurance is no longer sufficient or suitable for protecting these types of investments. One of the risks of being a boat owner is having an accident, resulting in property damage and injury.  Accidents can happen on the road while transporting your boat, while moored or while you are on the water with friends. If you are on the water, then sinking and wreckage are possible in the case of a severe accident.

Boat or watercraft insurance covers two main areas, and these are loss and liability. You can insure your boat and its fixtures against accidental physical loss in one of three ways.

• Actual cash value – the cost of replacing or repairing your boat less depreciation
• Market Value – what it would sell for on the open market
• Replacement cash value – the cost of replacing or repairing your boat.

Liability insurance provides financial protection if you are liable for the injury of a third party or their property. This may include when your boat is wrecked,  causing environmental damage from fuel and oil leaks. Being legally liable for property damage and injury is expensive. Make sure you are covered.

These two aspects of your insurance work together to cover you if your boat is accidentally wrecked. When reviewing or taking out a policy, it is worthwhile to check the terms for if your boat is wrecked or has to be salvaged, and it may require special equipment and cleaning efforts.

Boat insurance is there to mitigate any loss you may suffer from an accident, so don’t get caught in the wet! Take action and speak to Smoller Insurance Agency serving Boston, MA, today!