Umbrella Coverage Information
Waterways are Roadways—Protect your Vessel & Voyages
If you own a boat, chances are you love being out on the water like we do. Whether you prefer salt or freshwater voyages, the possibilities for boating enjoyment are endless.
All fun aside, like driving a vehicle, it is imperative to recognize the serious risks associated with owning and operating a watercraft, too. Boat and marine insurance policies help ensure that owners are protected from unexpected loss and damage due to boating accidents and other hazards like fire, theft, and vandalism.
Moulton & Sheally Insurance Group understands the boat and marine coverages necessary to insure vessel owners of any kind. From leisure watercrafts and luxury yachts to sport fishing boats, large sailboats, and everything in between, our agents will work with you to tailor policy options that protect both your investment and boating adventures.
What does boat insurance typically cover?
- Bodily Injury Liability coverage helps pay for the medical bills and income loss of others if they become injured as a result of an accident you cause.
- Property Damage Liability coverage helps pay for damage to someone else’s boat or property that occurs as a result of an accident you cause.
- Collision insurance pays for damage to your boat if you are in a covered accident with another boat or object.
- Comprehensive coverage helps pay for damages to your boat that are not a result of a collision such as fires, theft, and vandalism.
- Uninsured & Underinsured Boater coverage pays for bodily injury damages if you or passengers in your boat are hurt in an accident with another boater who is underinsured, uninsured, or flees the scene.
- Medical Payments coverage pays for medical bills if you or your passengers become injured while on your boat.
- Agreed value or actual cash value (minus deductibles) formulas are used to determine the amount of coverage in the event of a total boat loss.
Additional Coverage Options to Consider
You may need to add coverage for certain personal possessions or important equipment you take on board that are not permanently attached to your vessel. Amongst other things, you can also purchase towing insurance to include on-the-water towing, and roadside assistance coverage in case your vehicle or boat trailer experiences a breakdown.
Ready to get started?
Moulton & Sheally Insurance Group is ready to help you secure the right insurance policy for your boat so you can relax and fully enjoy it! We’ll help you determine the coverage you need, and explore expanded options that may be beneficial to you as well. Contact us to get your boat insurance quote started right away!
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What type of vessels are covered under a boat policy?
Some small, slower boats like canoes and single passenger sailing boats often do not call for boat insurance. However, vessels like bowriders, pontoons, high-speed boats, yachts, large sailboats, and wave-runners typically do. It is essential to secure insurance coverage to adequately protect the financial value and operational risks associated with your vessel.
How much boat insurance do I need?
Generally speaking, the amount of boat insurance coverage you need depends greatly on the value of your boat and how you use it. Some marinas or boating clubs also require members to purchase certain coverage (usually at least liability coverage). Your agent will also assist with determining the coverage that best suits your situation.
TOGETHER IS BETTER
It’s true! It pays to purchase insurance coverage together. You could save easy money by bundling a boat insurance policy with a homeowners, auto, or life insurance coverage need. Let us help you save!