For most people, a perfect afternoon is spending time on their boat having fun and making memories with their families. However, they do not realize that it comes with its one set of responsibilities including maintenance and insurance. Boat insurance covers the boat, motor and any personal items in the watercraft. In boat insurance, several types of watercraft are covered including houseboat, yacht, pontoons, powerboats and small fishing boats.
There are several types of coverages that one can expect to receive including;
This coverage will ensure your watercraft against any damage or loss that might be caused by a number of common risks such as fire, storm, collision, and theft. The property covered usually varies but it generally covers several permanent components such as the motors, anchors and onboard safety equipment. Depending on the policy you take your trailer might be covered as well.
Medical payments coverage
If a passenger on the boat gets injured and you are liable, you have to pay for their medical expenses that include medication, tests, X-rays among other hospital bills. This can be quite expensive especially if you were not prepared for such expenses. Having a medical payment coverage can come to your aid and save you thousands of dollars.
Uninsured watercraft coverage
Like mentioned above, most people do not know or they ignore the fact that they need insurance. In the unfortunate situation that your boat collides with an uninsured watercraft and the damage is too much you might end up with a huge bill. In such a situation if you had uninsured watercraft coverage you will not pay so much in expenses.
Comprehensive coverage covers for incidents that are not caused by a collision. This includes vandalism of the boat or theft. Boat insurance will cover the costs.
If you have decided to get watercraft coverage from Jones Insurance Agency in Illinois, ensure you read the terms of the policy so you know your rights and responsibilities.
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