When someone buys a motorboat, watercraft insurance becomes necessary for financial protection in regard to potential liability issues. If the owner ever causes a collision with the boat that results in another person’s injury or damage to property owned by someone else, this liability insurance would pay on the claim. Property damage might occur to someone else’s watercraft or to a dock or pier, for example. In addition, if someone is ever injured on the boat, the liability insurance should pay for this claim as well. For example, if someone is hurt while helping to raise a sail, liability insurance should cover the incident. This type of policy is very similar to automotive liability insurance.
Other types of watercraft insurance policies include coverage that pays claims for accident damage to the policyholder’s boat or in situations involving vandalism or theft. If the policyholder was at fault after colliding with another boat or a stationary object, this insurance would be advantageous in paying for repairs to the policyholder’s watercraft. Comprehensive insurance would cover episodes in which a vandal paints graffiti on the boat or someone steals the vessel. It also would cover storm damage.
Another type of optional coverage would address incidents caused by watercraft owners who don’t have insurance. If someone else causes an accident between the two boats and doesn’t have liability coverage, that leaves the innocent party stuck with the bill for damage to his or her own equipment. Coverage provided through an agency such as Coast Auto Insurance Services prevents any financial hardship resulting from these types of episodes or a complete inability to pay for repairs.
As with automotive insurance, the policies have deductibles that must be paid for insurance coverage begins. The policyholder also chooses limits to coverage. The amount of the deductible and the coverage limits are directly tied to the amount of the premium. Some other factors that determine the premium rate include the types of waterways in which the watercraft is used, the size of the vessel, and its motor. Boat owners may view the website Coastautoinsurance.com for contact information on this particular agency.
