Boat Insurance will cover you in the event of any extreme loss or damage that has occurred to your boat and will cover most water crafts that are motor-powered. As summer is now here with its many opportunities for fun and water-inspired thrills, this type of insurance will cover recreational fishing boats, pontoon boats, leisure crafts, yachts, and even paddle boats. If your boat of choice is a canoe or kayak, you usually do not have to opt for coverage. 

What Exactly does Boat Insurance Cover? Before you head out on the water to enjoy the sun and splash-induced thrills that the weekend commands, it’s important to know just how your boat policy from us here at the Alexander Insurance Agency of St Charles will allow you to enjoy your time out on the water while being protected. Here are some of the ways you can expect to protect yourself after you consult with us here to see which option is best for your wave-running slice of fun!

  • Collision Damage: This covers repairs or placement of your boat, but it might not include the cleanup of the actual wreckage unless you are willing to purchase optional additional coverage on the watercraft.
  • Property Damage Liability: This coverage will account for injury that you might cause anyone while you are enjoying your boat, such as medical expenses, loss of job income, and any expenses from legal proceedings. 
  • Comprehensive: Is a type of coverage that will provide conversation if your boat is stolen, vandalized, or severely damaged in an incident other of them a proven crash.
  • Additional Coverage Options: These will assist with providing coverage for medical payments, loss of fishing equipment, drastic oil spills, damage of your valuable personal property and even roadside assistance. It will also help with damage and injuries from any accident caused but negligent boaters who do not have insurance coverage.

Am I Required to Carry Boat Insurance? Before you hit the water for some fun and much-needed sun, you’ll want to know if boat insurance is required by their state. Many states require that you have the most basic tier of liability coverage, and marinas may require you to have boat insurance to properly dock at their location. If you are seeking a loan to buy a boat outright, the lender will likely require that you have sufficient boater’s insurance coverage in place. 

What Warrants Sufficient Coverage For my Needs? The total amount of boat insurance you need depends on a number of factors: these include the size of the motor, age of the vessel, value of the boat, and daily intended use. If you have a very modern speed boat boasting a massively powered engine, you will need a heightened amount of coverage for bodily injury and property damage liability as opposed to buying a slower pleasure trawling model. We recommend securing at least $1,000,000 in liability insurance, and you may need more if you have a powerful boat that poses more risk and can rapidly cause more damage to others out on the water. For uninsured and underinsured motorist coverage, a typical minimum is $10,000. The amount you are looking to secure should take into consideration the potential injuries and incurred damage you may need to be responsible for if you or one of your crew is seriously injured, or the boat suffers damage. 

What About the Others Along for the Ride? Boat Insurance will adequately cover boat passengers as well as the owner in case of a sudden accident. The passengers are covered under the liability portion that is written into the said boater’s policy. We are asked frequently about water-skiers: this is one area where one of our knowledgeable professionals can help evaluate you as the tendencies for accidents and rates can vary. 

Recreational boating is one of many Missouri residents’ favorite pastimes as it allows for the enjoyment of open space, adrenaline wave-running professionals getting their fix, and anyone who wants to chase bluegill or bass tranquil dreams of office escape come true. We hope that you come to visit us soon here at the Alexander Insurance Agency to find the best boating policy for you, and leave with the assurance that everything that happens on the water while you are enjoying “a year of reclaimed freedom” is fully covered and spoken for!