Personal Line Watercraft

What Is Watercraft Insurance?

Watercraft insurance is an umbrella term for three types of insurance: boat insurance, yacht insurance, and personal watercraft insurance. It protects against damages to vessels. Depending on the policy, there may also be watercraft liability coverage for bodily injury to people other than the boat’s owner and family, guest passengers using the boat by themselves, and medical payments for injury to the owner and their family. Some policies, however, require the purchase of additional liability coverage as an add-on. The specific type of insurance you buy is dictated by the size of your vessel.

Considerations for boat insurance can include

Lay-up period: This covers your boat for property damage during the off-season, when it isn’t in the water.

Navigational territory: Your insurance will generally specify where you can go in your boat and still be covered.

Property damage: This is for damage your boat inflicts on someone else’s property.

Hurricane haul-out provisions: This covers your costs of getting the boat out of harm’s way before a windstorm.

On-water towing and assistance: This is for unexpected breakdowns or running aground.

Fuel spill liability protection: Should there be an accidental discharge of fuel from your boat, this will cover the costs of a clean-up.

Personal effects coverage: This will protect any expensive equipment you have on your boat, such as fishing gear.

Ice and freeze coverage: Should cold weather damage your boat’s engine and water systems, this will pay the bill.