What Is Boat Insurance and Why Do I Need It?

Boat insurance is the type of insurance that provides coverage both for you and your boat/watercraft if something unexpected happens. Usually, most policies include coverage for damages to a boat and the equipment and damage to someone else’s property or boats. In most cases, boat insurance covers all types of boats equipped with engines, but not all boat insurance policies cover personal watercraft, such as jet skis, WaveRunners, or wave jammers. 

The purpose of boat insurance is to protect your boat everywhere – out in the water,  overland, and even into storage. 

In general, most boat insurance policies are created to cover: 

  • Bodily injuries resulting from the boat
  • Property damage to your boat
  • Property damage caused by your boat (for example, if you cause a boat accident and someone is injured). 

Why Do I Need Boat Insurance?

The main reason is financial security. For example, if an accident happens and you carry proper boat insurance, you will have to pay the deductible, while your insurance will cover the remaining expenses. However, if you do not have insurance, you will have to pay for all damages and repairs out of pocket, which could be quite expensive. Moreover, you may be responsible for paying someone else’s medical bills if someone gets injured on your boat. 

Some home insurance policies include boat coverage as well. However, it is always better to purchase boat insurance separately. A separate policy provides you with more options for specialized protection. That includes coverage under more situations, medical payments coverage, and increased physical damage limits. 

If you are a boat owner in Ft. Wayne, IN, boat insurance is what you need. By having this type of insurance, you know that both you and your boat are protected. If you live in Ft. Wayne, IN, or any other surrounding areas, Wise Insurance Agency is ready to help you. Give Wise Insurance Agency a call and talk to one of the insurance agents, who will be glad to answer all of your questions. 

Why Do You Need Umbrella Insurance?

Insurance Coverage Types

There are many, many types of insurance, but most people only need a few. Auto and homeowners’ insurance are common for the population, but there can be problems with these. They don’t tend to offer much liability coverage for the insured. That’s where umbrella insurance comes in to fill the gap. If you are interested in an umbrella insurance policy, contact us at Wise Insurance Agency in Ft. Wayne, IN to talk to an agent about this coverage.

Auto and Home Liability

An umbrella policy is generally not a stand-alone policy. It is taken out after your home, and auto insurance policies are in place. Because it can be so expensive to raise your liability coverage with those policies, many people go with the bare minimum liability coverage. It may mean lower rates, but it often means that a single accident or calamity can bankrupt a person when they are found at fault and must pay medical bills and other expenses. 

Umbrella Insurance

Because of the low liability amounts on those policies, many people choose to up their insurance coverage with an umbrella policy. This adds another layer to the liability insurance of both the home and auto policies. Once the home or auto insurance has paid out its maximum amount, the umbrella policy pays out up to its maximum coverage. This gives you many times more liability coverage, and it can protect your financial future should there be a serious occurrence that you are liable for. 

Get Your Umbrella Policy

If you’re interested in getting an umbrella policy to boost your liability coverage, call us at Wise Insurance Agency in Ft. Wayne, IN for an appointment to discuss it with an agent.

Auto Insurance for Beginners

If you’re driving a new car on the Ft. Wayne, IN roads for the first time or are upgrading your car, then it’s crucial that you know the bare minimum about auto insurance. Since just about every state requires you to have a minimum amount of coverage on your vehicle, you should know how you can be covered with auto insurance. Learn the ins and outs of auto insurance basics with Wise Insurance Agency and visit us for a consultation. 

What Does Auto Insurance Cover?

Auto insurance is a type of insurance that provides financial coverage if you get into an automotive accident. You don’t have to pay for all of the repair costs or other costs out of your own pocket this way. Here are some areas in which auto insurance can provide coverage for you: 

  • Liability
  • Injury 
  • Repair costs
  • Property damage
  • Damage done to another driver’s car

These are just some of the areas in which auto insurance can provide you coverage. The specific amount and type of coverage you receive will depend on the auto insurance policy you choose. For a consultation on what policy is best, contact Wise Insurance Agency for advice. 

Importance of Auto Insurance

Not only is it legally required in just about every state to have auto insurance, but it is also vital to your financial recovery in the case of an auto accident. Even the bare minimum coverage type, liability, is great to have in case you get into an accident since liability protects you if the accident was your fault. Having coverage provides a sense of relief when you get into an accident, so all you have to do is worry about recovering.

Visit Wise Insurance Agency to Get Covered

When it’s time to find the right auto insurance policy for you, visit Wise Insurance Agency. Our office proudly serves the Ft. Wayne, IN area. 

Three home insurance add-on coverage options to consider

It’s important to be aware of and consider all of your coverage options before you purchase a home insurance policy in Ft. Wayne, IN. At The Wise Insurance Agency, we can help you find home insurance coverage to protect the investments you make in your home.

The following are three types of home insurance add-on coverage that you should be aware of when you purchase a policy.

Underground utility line coverage

A standard home insurance policy won’t necessarily cover you for damages to your utility lines. However, your sewer, water, electric, and gas lines could become damaged in a variety of ways. For instance, tree roots growing in a home’s yard can obstruct or break these utility lines. 

If you invest in underground utility line coverage, any resulting costs from these incidents will be covered. 

Sewage backup coverage

One of the most unpleasant problems to have to deal with in a home is a sewer line backup. Sewer line backups can be caused by heavy rains and lead to severe damage to a home’s walls, flooring, and other components. Add-on sewage backup coverage will pay for resulting expenses. 

Watercraft endorsement

Boat owners should be aware of watercraft endorsement options on their home insurance policies. A watercraft endorsement could provide coverage for small watercraft. This endorsement can provide coverage while a boat is both on land and in the water. 

Watercraft endorsements can often cover both collision damage expenses to the watercraft itself and liability costs the owner faces through watercraft operation. 

Learn more about home insurance coverage by contacting us at The Wise Insurance Agency. We’ll help you find the home insurance coverage you need in Ft. Wayne, IN.