Understanding Boat Insurance and Safeguarding Your Vessel
Boat owners are required to have insurance to protect their vessels and passengers and cover incidental property damage as well as standard perils. Your boat’s type, size, and value will dictate the kind of insurance needed. Small vessels like canoes, mini sailboats, and some powerboats may be covered by homeowners insurance. Larger, faster, and high-value boats will need a dedicated policy with a separate deductible. Our agents at Alpine Ridge Insurance in Auburn, WA, explain the essentials of boat insurance and share helpful tips for staying safe on the water.
Types of Boat Insurance and Optional Coverage
There are two main types of boat insurance with differing costs and parameters. Actual cash value coverage takes into account the vessel’s depreciation when paying for replacement costs. Agreed amount value policies are established between the insurer and owner and are based on a valuation that both parties agree upon.
Some optional coverage aspects to consider include:
- Physical damage or loss to the boat
- Theft
- Bodily injury
- Damage to someone else’s property
- Medical payments
- Guest passenger liability
- Trailer and boat accessories
- Loss or theft of belongings
- Towing
Washington Boating Safety Tips
Before navigating your watercraft, keep these safety pointers in mind:
- Equip your boat with navigation lights, life jackets, flotation devices, emergency flares, and a horn, whistle, or loud bell.
- Evenly distribute loads or passengers in the vessel, being careful not to overload it.
- Understand maritime laws as well as boating regulations in your area. Learn key distress signals.
- Check weather forecasts for water condition updates.
- Keep a lookout for swimmers, other boats, and floating debris in shallow waters.
- Never allow others or yourself to operate a vessel under the influence of alcohol or drugs.
Stay Protected with Boat Insurance from Alpine Ridge Insurance
Safeguard your investment by protecting your vessel, yourself, and your passengers with suitable boat insurance. Contact Alpine Ridge Insurance in Auburn, WA, to learn more about our insurance policies and get a quote.
