Do you own a boat or other watercraft? Boat insurance is one of the furthest things from most people’s minds as they are skimming across lake, but it can become incredibly important if an accident occurs. We will work to find you comprehensive protection that protects you, your passengers, and your vessel. This policy can also cover the trailer and boating equipment.
Boat Insurance Requirements
Boat insurance is not legally required in Ohio. However, this doesn’t mean that you should not purchase coverage. If you financed or leased your boat, your lender may require you to obtain insurance. Additionally, certain marinas may also require you to show proof of insurance.
Boat Insurance Coverage
When choosing the necessary coverage for you, you may want to consider any of the following options:
- Liability- This works just like auto insurance. If you are at fault for an accident while on the water, this coverage helps cover repair or replacement costs for another person’s property and their medical expenses and lost wages.
- Physical damage- This includes the costs for repairs or a replacement for your vessel if your boat, the motor, or anything attached to it permanently becomes damaged or stolen.
- Physical damage- This will cover the costs for repairs or a replacement for your vessel if your boat, the motor, or anything attached to it permanently becomes damaged or stolen.
- Uninsured/underinsured- If you are hit by a boater who doesn’t have insurance or does not have enough insurance, and you become injured, this coverage helps pay for your medical expenses, lost wages, and other related expenses.
- Personal effects- This coverage includes jewelry, cell phones, clothing, sporting equipment, fishing equipment, and other equipment that becomes damaged or stolen on your boat.
- Fuel spill liability- This will cover leaking oil or fuel that has spilled into the water after your boat has become damaged or if it sinks. You must have this cleaned up by law, which can be expensive and time-consuming.
Contact us for more information on boat insurance.