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Protect your aquatic adventures with comprehensive watercraft insurance from SelectQuote. From jet skis to yachts, we offer tailored coverage for all vessel types. Enjoy peace of mind with policies that include liability protection, collision coverage, and emergency assistance.
Watercraft Insurance
Navigating the open waters is an exhilarating experience, but it comes with its own set of risks and responsibilities. That's where watercraft insurance steps in, offering you peace of mind as you embark on your aquatic adventures. Whether you're the proud owner of a speedboat, yacht, or fishing vessel, protecting your investment is paramount.Watercraft insurance is designed to shield you from the unexpected challenges that can arise on the water. From accidental damage and collisions to theft and natural disasters, comprehensive coverage ensures that you're prepared for whatever comes your way. But it's not just about protecting your vessel; it's about safeguarding your passion for the water and the memories you create on it. While you may already have standard auto insurance, it’s crucial to ensure all of your personal vehicles have the financial protection they need. No two boat owners are alike, which is why you’ll want to find flexible coverage options to suit your specific priorities and budget.What is watercraft insurance?
Watercraft insurance is a specialized form of coverage designed to protect boat owners from financial losses related to their vessels. This insurance extends beyond traditional auto or homeowners policies, offering tailored protection for the unique risks associated with owning and operating watercraft. At its core, watercraft insurance provides coverage for physical damage to your boat, including accidents, collisions, and natural disasters. It also typically includes liability protection, safeguarding you against potential lawsuits if someone is injured while on your boat or if your vessel causes damage to another's property. The scope of coverage can vary based on factors like the type of watercraft, its value, and how it's used. From small fishing boats to luxury yachts, policies can be customized to fit your specific needs and budget.How much does watercraft insurance cost?
The cost of watercraft insurance can vary widely based on several factors, including the type of watercraft, its value, your location, and your individual insurance profile. Generally, smaller boats, such as personal watercraft or fishing boats, tend to have lower premiums compared to larger vessels like yachts or motorboats. The value of your watercraft is a significant determinant; higher-valued boats typically mean higher insurance costs.Additionally, factors such as your boating experience, claims history, and frequency of use can influence your premium. For example, experienced boaters with clean records may qualify for lower rates. The geographical area where you operate your watercraft also plays a role; regions prone to severe weather or high theft rates may lead to increased insurance costs. It’s essential to shop around and compare quotes from different insurers to find the best coverage options at competitive rates. If you’re looking to save, bundling your policies can be an effective way to save on watercraft insurance by consolidating multiple types of coverage under one insurance provider. When you bundle your watercraft insurance with other policies, such as your home, auto, or renters insurance, you may qualify for significant discounts. Additionally, having all your policies with one provider means you can handle renewals, payments, and claims through a single platform, making the process more convenient.What does watercraft insurance cover?
Watercraft insurance is designed to protect boat owners from various risks associated with operating and owning watercraft. Typically, it covers damages to the vessel itself, including repairs from accidents, collisions, or natural disasters. Coverage can extend to both the hull and any attached equipment. Liability coverage is another critical component, protecting you in the event that you cause injury to others or damage to their property while operating your watercraft. This can include legal fees and medical expenses resulting from an accident.Many policies also offer coverage for personal belongings onboard, such as fishing gear, electronics, and safety equipment. In some cases, comprehensive coverage may be available, which protects against non-collision incidents like theft, vandalism, or damage from weather events.Covered by Watercraft Insurance | Not Covered by Watercraft Insurance |
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Covered by Watercraft Insurance
- Liability coverage
- Physical damage coverage
- Agreed value coverage
- Towing and assistance
- Uninsured/Underinsured Boater Coverage
Not Covered by Watercraft Insurance
- Wear and tear
- Manufacturing defects
- Damage from insects or marine life
- Mold or mildew
- Racing or speed contests
Watercraft Insurance FAQ
Here are some frequently asked questions about watercraft insurance:How do I purchase watercraft insurance?
When you’re ready to have peace of mind that your watercraft is financially protected, begin by researching companies that offer watercraft insurance and reach out to them for quotes. Many insurers have dedicated marine insurance departments. To streamline this process, partner with an insurance brokerage like SelectQuote. Working with licensed insurance agents can ensure you receive unbiased quotes from several carriers all in one place, helping you save time and money. If you already have auto or home insurance, they can help you inquire about adding watercraft coverage to your existing policy by bundling your coverage.
What damage is excluded from watercraft insurance?
While watercraft insurance provides extensive coverage, certain types of damage are typically excluded from standard policies:
- Normal Wear and Tear: Gradual deterioration due to regular use is not covered.
- Manufacturing Defects: Issues arising from faulty design or construction are usually the manufacturer's responsibility.
- Intentional Damage: Any harm caused deliberately by the owner or authorized users is excluded.
- Damage from Insects or Marine Life: Destruction caused by wood-boring organisms like termites or other marine creatures is often not covered.
- Mold and Mildew: Damage resulting from mold or mildew is typically excluded unless directly caused by a covered peril.
- Freezing: Damage from ice formation in the engine or other systems may not be covered if proper winterization wasn't performed.
- Racing or Speed Contests: Accidents occurring during organized racing events or racing activity are often excluded.
- Unauthorized Modifications: Alterations to the watercraft that are not approved by the insurer may not be covered.
- Personal Effects: Items not permanently attached to the boat might be excluded unless specifically added to the policy.
- Commercial Use: Using a recreational boat for business purposes without proper coverage can lead to claim denials.
- Geographical Limitations: Damage occurring outside the policy's specified navigational area may not be covered.
Shop for watercraft insurance and save with SelectQuote.
When it comes to protecting your prized watercraft, finding the right insurance coverage is crucial. SelectQuote offers a streamlined approach to shopping for watercraft insurance, helping you navigate the complex world of marine policies with ease. Our licensed insurance agents can help you compare quotes from several of the nation’s most trusted carriers side by side, ensuring you get the best coverage at competitive rates.Remember, the right insurance policy not only protects your investment but also provides peace of mind when you're out on the water. Let us help you find comprehensive coverage that addresses all your concerns, from liability protection to emergency assistance. Start your journey to better watercraft insurance today and sail with confidence knowing you're properly protected.We do the shopping. You do the saving.
