Learn How to Find the Right Boat Insurance Coverage

Help with Personal Property and Roadside Emergencies

Personal property coverage and emergency towing and assistance coverage are two common add-ons to boat and yacht insurance policies. Clothing, personal effects, sports equipment, and fishing gear are all examples of the kinds of things that can be considered “Personal Property,” and they are all covered while they are being loaded or unloaded from your boat.

Comparing policies is a good idea since, like with physical damage coverage. The exclusions may differ from one insurer to the next. If you and your boat are in no immediate danger but yet require emergency assistance, you can get your money back with Emergency Towing & Assistance coverage.

Towing to a repair facility, fuel, oil, and parts delivery, and on-the-spot emergency labor are only some of the emergency services that might be provided. Before filing several towing claims, find out whether there is a deductible and/or if there is an annual maximum.

Essential Coverage Beyond Basic Liability

Many crucial protections for boat owners can be found in the liability portion of an all-inclusive policy. In the event that your yacht is judged a navigational hazard, having insurance that pays to have its remains removed or disposed of is essential.

Also, if their boat causes oil pollution or contamination, the boat’s owner may be held liable for the cost of clean-up and containment. Since vessel owners are responsible under the Oil Pollution Act of 1990 up to the statutory maximum (currently $939,800), it is crucial that your boat or yacht insurance policy covers your obligation for those clean-up charges.

Confirm that your liability insurance covers the second boat if you ever want to borrow it. Liability insurance for using a boat that is not your own is known as “non-owned” coverage. Finally, owners of vessels with crews should check that their insurance policy protects them from claims brought by crew members under the Jones Act and General Maritime Law.

Liability under the Federal Longshore and Harbor Workers’ Compensation Act is another area that should be covered by a solid policy. This will protect you from legal responsibility if a temporary worker, like a marina worker or boat mechanic, has an injury while on your vessel.

If you plan to rent out your vessel or charge guests to ride, you likely won’t be covered by your boat or yacht insurance. A reliable marine insurer may be willing to broaden your policy’s coverage to encompass such events under the correct conditions. Inquire beforehand to guarantee your safety.