Boat and Watercraft - Alexander & Strunk Insurance

Boat or Personal Watercraft Insurance

All boat insurance policies are a little different. Each insurance carrier offers its own unique array of coverages. Below we listed the most common coverages in a boat insurance policy.

Liability

For injuries or property damage the insured causes to someone else. These limits vary from policy to policy. We recommend a limit of at least $300,000.

Medical Payments

For treatment of injuries to the driver and passengers and sometimes skiers of the policyholder's boat or watercraft. The limits range from $1,000 to $10,000. We recommend $5,000.

Damage to your Watercraft

This is similar to collision or comprehensive insurance on your automobile insurance. It repays you for damage to your watercraft. You will have to pay a deductible that ranges from $100 to a percentage of the value of your boat.

This coverage comes in many different forms. It will pay you for your damages on the following basis:

Agreed Value (amount set by you at the time you purchase your policy)
Actual Cash Value (a depreciated amount)
Uninsured/Underinsured Motorist Coverage
For treatment of policyholder's injuries as a result of collision with an uninsured/underinsured driver.

Personal Effects

This coverage is available in some format on most policies. It will pay you for the personal effects (ski or fishing equipment, life jackets and possibly radar, GPS, or depth finders if not covered in the “Damage to your Watercraft” portion of the policy).

Towing

Will pay to tow your boat into the closest marina in case the boat becomes disabled. Usually this is a set amount.

Extra Coverages you may need:

Trailer coverage.

A&S Insurance

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