Boat Insurance in Vermont

What is Boat Insurance?

Taking a boat out on the water can be great fun but comes with certain risks. Thousands of boating accidents occur every year, and a number of these involve substantial property damage, physical harm and/or death. While boat insurance won’t do anything to prevent boating accidents themselves, it can help protect Massachusetts boaters from the financial fallout they could face if they’re involved in an on-water incident.

Boat insurance is a specialized form of personal insurance that’s uniquely designed to help protect boaters and their watercraft. Most policies come with multiple coverages, and boaters can frequently select the exact coverages that are included in their policy.

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What Coverages Do Watercraft Insurance Policies Come With?

Some of the coverages that watercraft insurance policies offer are similar to those found in most auto insurance policies. For example, may watercraft policies can include:

  • Bodily Injury Coverage, which may cover injuries that people outside the boat sustain
  • Medical Payments Coverage, which may cover injuries that people in the boat sustain
  • Property Damage Liability Coverage, which may cover damage to other boats and property
  • Comprehensive and Collision Coverage, which may cover damage to the boat

Not all of the coverages offered by watercraft policies mimic those commonly found in auto policies, though. There are some other boating-specific coverages that watercraft policies might make available. A few examples are coverage for:

  • Waterskiing or wakeboarding gear kept on a boat
  • Boating safety equipment kept on a boat
  • Towing on the water
  • Recovering a sunken boat

Any watercraft policies specific coverage list will depend on the policy’s terms and conditions, as well as the protection options chosen by the policyholder.

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Who in Massachusetts Needs Watercraft Insurance?

Most boat owners in Massachusetts should consider carrying a watercraft insurance policy. This includes (but isn’t limited to):

  • Yacht owners
  • Sailboat owners
  • Motorboat owners
  • Jetski owners
  • Canoe owners

Boaters who have canoes, rowboats, kayaks and one-person sailboats might not need property coverage for their inexpensive boat, but they often can still benefit from the liability protections that a policy affords. Boating accidents resulting in injuries and drownings occur on both small and large boats, and anyone who’s involved in such an accident could be held financially liable.

How Much Do Watercraft Insurance Policies Cost?

Insurance companies consider many factors when setting premiums for watercraft policies, so rates vary. Some of the items that frequently impact how much a particular policy costs are the size of the boat being insured, the boat’s classification and where the boat is used.

Even despite the variance in policies’ costs, however, watercraft policies tend to be quite affordable. Purchasing a policy is almost certainly more affordable than facing a potentially expensive claim without any protection in place.

Do Boats Need to Be Insured During the Winter?

Boat owners don’t necessarily need to carry the same level of protection during winter while their boat is in storage, but they generally shouldn’t cancel insurance for their boat altogether. Canceling a policy can create a coverage gap that might lead to higher premiums in the future, and it generally leaves a boat without protection if it’s damaged while in storage.

Instead of canceling coverage, boat owners can talk with a knowledgeable insurance agent about how they might change coverages during the colder months. An experienced agent will know what coverages should be kept while a boat is in storage and which ones can reasonably be reduced for the offseason.

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How Can Boaters in Massachusetts Get Boat Insurance?

For help insuring a boat or other watercraft in Massachusetts, contact the independent insurance agents at Paige & Campbell Insurance. Our team has helped many state residents find boat insurance for their small and large boats, and we’re ready to assist you.

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