Here at Brevard Insurance Agency Inc, serving the greater Brevard, NC community, we often get asked about the different types of boat insurance. While each policy is unique, there are some common elements that are typically included in most boat insurance policies.
Here are the different types of coverage you can get with a boat insurance policy:
Liability Coverage
This is the most basic type of coverage and is typically required by law. Liability coverage protects you from financial damages that you may be held responsible for if you cause an accident while operating your vessel. This includes property damage as well as bodily injury to another person.
Most liability policies will have a limit on the amount of coverage they provide. This means that if the damages exceed the limit, you will be responsible for paying the difference out of your own pocket. For this reason, it’s important to choose a policy with a limit that meets your needs.
Collision Coverage
As the name implies, collision coverage provides protection in the event that your vessel collides with another object. This could include another boat, a dock, or a fixed object in the water. Collision coverage will pay to repair or replace your vessel up to the limit of your policy. Like liability coverage, collision coverage typically has a limit, so it’s important to choose one that meets your needs.
Comprehensive Coverage
Comprehensive coverage is similar to collision coverage in that it provides protection for your vessel in the event of an accident. However, comprehensive coverage goes a step further and also provides protection from damages caused by non-collision events such as theft, vandalism, fire, and weather damage. Comprehensive coverage typically has a deductible just like collision coverage does, so be sure to factor that into your decision when choosing a policy.
Give Us A Call
There are many different types of boat insurance policies available, and each one offers its own unique set of benefits. The best way to figure out which policy is right for you is to speak with an experienced agent who can help you assess your needs and find the right solution. Contact us today at Brevard Insurance Agency Inc in Brevard, NC to get started.
