Nothing is irresistible, like spending a day of fun on the water. Boating is a superb way of relaxing, whether fishing, water skiing, or just a regular outing. However, without watercraft insurance from Smoller Insurance Agency in Newton, MA, your boating experience might turn into a nightmare in case of an accident.
Is boat insurance mandatory?
There are no state laws that requires you to carry boat insurance. However, if your boat is loan-financed, your lender may require you to carry boat insurance as long as the loan facility is outstanding. However, whether required or not, boat insurance is no-miss insurance. Without it, you will have to cover liability expenses from your pocket for accidents that you are deemed liable.
Types of boat insurance coverages
Without boat insurance, you may not get protection against many unexpected eventualities that crop up in the water. If you spend time on the water, ensure that your insurance policy extends beyond your dock by considering the below boat insurance coverages.
- Liability coverage: Pays for property damages and bodily injuries caused to other persons.
- Uninsured/underinsured boater coverage: It safeguards you and your passengers for bodily injury and property damage aggravated by another boater who has no insurance or is inadequately insured.
- Comprehensive coverage: Protects your boat from non-collision perils like theft, vandalism, and some natural calamities.
- Collision coverage: Protects your boat against damages sustained in a boating accident.
- Medical payments coverage: It pays medical expenses arising from a boat accident when you or your passengers are injured.
- Equipment coverage: Some boat insurance policies will give you room to add protection for special equipment, such as high-valued fishing gadgets and navigation equipment.
- Disablement coverage: It will cater to the costs of towing and undertaking certain repairs if your watercraft becomes disabled.
Do not let an unexpected boating accident cause you devastating financial burdens! Instead, contact us or visit our Smoller Insurance Agency offices in Newton, MA, and we will ensure that you explore waters with confidence.