Boat Insurance

Nothing brings family and friends together quite like lake life and boating. In Missouri especially, with great lakes such as the Lake of the Ozarks and Tablerock Lake, boat insurance is a popular product. Let’s take a look at the coverage that you should carry out on the water ways:

 

Types of Boat Insurance Coverage

• Boating Bodily Injury Liability: This component of boat insurance is the most important component. This component provides coverage for others that your vehicle has caused harm to. In particular, this component provides coverage to the other party that has sustained an injury in an accident that you caused. 

 

• Boating Physical Damage Liability: This component of the liability provides coverage for physical damage you cause to property in an accident, which you are at fault for. 

 

• Boating Collision Coverage: This component of boat insurance protects you, the insured and your vehicle from damage done during a boating collision. This coverage includes a deductible that must be paid before the insurance will activate. 

 

• Boating Comprehensive Coverage: This component is also referred to as “other than collision” which means this is for damage to your boat for factors other than a collision. Types of claims that fall under this component of boat insurance would be theft, fire, damage caused by animals or other “acts of god.”

 

• Agreed Value Coverage: Most times boats are insured on an agreed value basis less the deductible. 

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• Personal Effects Coverage: Similar to contents coverage on your homeowner policy, this coverage can insure phones, fishing equipment and other items that you would keep in your boat.