Things to Consider When Shopping For Boat Insurance

If you invest in something as expensive as a boat, you want to make sure that your precious possession is properly protected. The best way to do it is to get boat insurance. This type of insurance may be confusing, which makes it hard for boat owners to find and pick the right policy. In order to help you make an informed decision, Ruddy Insurance Group serving Niles, OH has prepared a list of things you should consider:

  • It is not required by law to carry boat insurance in the state of Ohio. However, it is still recommended to have it. 
  • There are certain factors that may affect the cost of your boat insurance, including where you plan to boat (in-country or out-of-country, freshwater or saltwater, coastal or inland), type of boat, suspension (it is possible to suspend your policy during the off-season), and available discounts (good boating and driving record or taking a boating class for example). 
  • Traditionally, most standard boat insurance policies cover the following: property damage liability (if you crash into someone else’s watercraft or boat, or destroy someone’s property while operating the boat), collision damage (repairs and replacement of your boat), engine damage, and body damage liability (this coverage protects you if you hurt someone while operating the boat). 
  • Standard boat insurance policies do not cover additional equipment and accessories unless they are specifically stated in the policy. These accessories and equipment include life jackets, GPS systems, boat modifications, anchors, and some others. 

If you are a responsible boat owner, one of the first things you should consider after getting a boat is boat insurance. It will protect your boat, yourself, and other people. Moreover, it will give you peace of mind. If you are currently looking for boat insurance but you still have questions and do not know where to start, Ruddy Insurance Group serving clients from Niles, OH will be glad to help you. Do not hesitate to give us a call – our experienced insurance agents will answer all your questions.