Boat Insurance — What is Covered?

Considering you are reading this article, I can assume you either own a boat, or are thinking about purchasing one.

Many decisions in the insurance realm revolve around the discretion of underwriting. However, knowing these simple guidelines will provide you an advantage when approached by a claims situation. Regardless, it is just good information to know.

So, what is the one thing you need to know? Although it takes reading through fine print and several phone calls with different departments, the answer is written somewhere in you policy. My coworker and I discovered it is one of those “learn as you go” type situations. Meaning people generally only find out the hard way. That is why I am taking the time to inform you through this free piece of content, because it is important to know!

What does boat insurance cover?

If you own a boat, and want to insure the structure of that boat from damage, along with the motor, you must have this type of coverage.

Your auto insurance does extend to cover boat, if it is being hauled. However, only liability is extended. For instance, your boat and trailer unhitch and therefor cause damage to another vehicle. In this case, you could exercise insurance coverage through the auto.

BUT, the one question is, “My boat was damaged, is it covered?”

NO.

In almost every situation and circumstance, damage to a boat is only covered by insurance if you have a separate boat insurance policy; especially if it is in the water. It could be in the form of an “inland marine policy” or a “boat owner’s policy.” In some circumstances, you may even be able to get away with having scheduled your boat on your home owners policy.

This applies for four-wheelers too. If your four-wheeler is used to up-keep the property in which you live, and you scheduled the four-wheeler on your homeowner’s policy, then it could be covered by the property insurance without a separate policy.

Farm Bureau Insurance Group has excellent options for not only boat insurance, but all of your insurance needs. I also want to mention Progressive, as they have one of the best boat policies in the business.

For more information, contact us via text or phone call at 336–963–0864.

About the Author: My name is Avery and I am an insurance agent for NC Farm Bureau Insurance Group. We write all kinds of insurance policies and I have a passion for helping inform others on how to assess their own insurance policies. If you found value from this article, please share my name and information!