What Is Watercraft Insurance, and Do You Need It?

Once the weather gets warm, there’s nothing like getting out on the water on a boat. Whether it’s the sea, a lake, or a river, boating is an exciting activity that offers ample opportunities for recreation.

Of course, being on the water can sometimes be dangerous. For a variety of reasons, accidents do happen, and it is essential to be prepared for when they do.

If you are a private boat owner, carrying sufficient watercraft insurance is vital to protect your boat, as well as your family and other boaters on the water.

What Does Watercraft Insurance Cover?

It makes sense to design a watercraft insurance policy that is applicable to your own specific needs. Policies can vary, but may include any of the following (and more):

  • Hull insurance for damage to your boat (and/or yacht insurance for especially large boats)
  • Third-party liability insurance, in the event you damage another person’s boat or property
  • All risk policies, to cover damages from ice, pollution, mechanical breakdown, and other sources

Ultimately, having a conversation with an experienced insurer can help direct you to what you need. With a good policy in place, you can focus on enjoying your time on the water, and not worrying about the potential hazards of an accident or incident.