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.