Boat/Watercraft Insurance

Owning a boat is a great way to spend more time outdoors and make great memories with your friends and family. Boat ownership, however, also comes with a great deal of responsibility. Understanding your responsibilities concerning safety and insurance is important. At First State Insurance Advisors Inc, serving North Carolina, we love to help our clients better understand their insurance needs. Keep reading to find out what you need to know about boat/watercraft insurance.

Why Is Boat and Watercraft Insurance Important?

Just like with vehicle insurance, boat or watercraft insurance is a necessary way to protect yourself, other boaters, and the investment you have made into your watercraft. If your watercraft sustains damage due to an accident, natural disaster, or theft, you will be held responsible for those costs or repairs. Insurance can provide a layer of protection so that these expenses do not come directly out of your pocket.

In many states boating insurance is required by law in order to operate your boat on the open water. Having boat or watercraft insurance in place means that you can travel by your boat anywhere and rest assured that you are covered.

What Does Boat and Watercraft Insurance Cover?

Boat or watercraft insurance will cover any damage which your craft sustains due to natural disaster, accidents, or theft.

Most boat or watercraft insurance policies will also provide liability protection. Liability protection provides coverage if your boat or watercraft causes damage to another craft. Liability protection is also necessary if someone is injured while on your boat, or if your boat causes an injury to anyone. In some cases, an injury of this nature can result in medical bills and even legal fees. Your insurance policy will kick in to make sure you are not left personally responsible for these costs.

If you would like to learn more about boat or watercraft insurance, please contact our friendly staff at First State Insurance Advisors Inc. serving North Carolina.