Advantages of a Boat Policy vs. Adding a Boat to your Homeowner's Policy

Coverage for canoes, small sail boats and small power boats with less than 25 – 50

horsepower motors is often included in a standard homeowners policy. Property

coverage is generally limited to around $1,500 to $2,500 for the boat, motor and

trailer combined. Liability and property coverage for larger boats and motors is offered

by some insurance companies for an additional premium. Check your homeowners

policy or call us at Butler & Associates if you have questions about the coverage

your policy provides.

Larger and faster boats, yachts and personal watercraft such as jet skis and wave runners

generally require a separate boat insurance policy or a separate watercraft segment

in a package policy. Watercraft policies provide broader protection than a

homeowners policy. You may purchase additional coverages for such things as such

as theft, Fuel and Other Spillage Liability, your boat trailer, medical payments, and

liability to protect you from an uninsured boater. Another advantage to the watercraft

policy is that a claim for a boating accident does not become part of your homeowners

claims history.

Liability insurance protects you and members of your household if you or they were

legally liable for injuries to other people either on or off your boat, or if you or they

accidentally caused damage to anyone else's property. Also included are the costs to

defend you in lawsuits brought against you. Medical Payments covers a person who

is injured on your boat. It pays reasonable medical expenses, regardless of fault, up

to $1,000 for each injured person. (Higher limits are available).

Protection for your boat, boating equipment, and accessories can be purchased for

total loss replacement, an agreed value or actual cash value at the time of loss. Optional

coverages available include: personal effects (clothing, water skis, etc.), fishing

equipment, theft, emergency service for towing and labor on land or water including

delivery of fuel, oil or battery if your boat breaks down.