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Watercraft Insurance

from PowerSports Insurance Agency

Watercraft Insurance

Before you hit the open water, make sure that you are protected with the right watercraft insurance policy. 

If you’re a boater, it’s impossible to ignore the call of the open water.  However, it’s important that you don’t forget about safety in your excitement to hit the water.  Every time you take out your boat or personal watercraft, you are engaging in a risky activity.

This is why it’s so vital that you take the necessary precautions to protect yourself, your boat, and those around you.  One of the best things you can do to stay safe is have the right insurance in place.

Not sure which coverages are best for you?  Then turn to the trusted experts at PowerSports Insurance Agency.  With our many companies and options, we offer some of the lowest priced watercraft insurance, that still offers the best coverages for you and your watercraft.

Types of Boats We Insure

All types of boats – From Jet Skis to Yachts.

Cruisers, Sail Boats, House Boats, High Performance Boats, Fishing & Bass Boats, Jet Boats, Inflatable Boats, Pontoon & Deck Boats, Ski & Wake Board Boats, Personal Watercraft, and Kayaks.

Important Watercraft Coverages

Liability Coverage: This type of insurance will provide coverage for the injuries or property damage that you might cause to another party during a boating accident. This coverage can also assist with the costs associated with wreck removal and fuel spill clean-up liability imposed by a state or the Federal Government.

Uninsured Watercraft Coverage: More than half of all boaters do not carry insurance. This is a great example why it is so important to have uninsured watercraft insurance.  This type of insurance will provide coverage for the repairs and medical treatment that you and your passengers might require following an accident with an uninsured boater.

Propulsion Plus Coverage: Provides coverage for the outdrives of outboard and sterndrive (inboard/outboard) motors in the event of a mechanical breakdown, including those caused by wear and tear. Ask one of our insurance agents if this coverage is right for you!

Loss and Settlement Options

Total Loss Replacement Coverage Settlement: This option is usually available on new or close-to-new boats.  This coverage replaces a totaled boat with a brand-new model of similar make and quality.  In many instances, this option does not cost (too) much more than Agreed Value and it is well worth the extra premium cost.

Agreed Value Settlement:  If your boat is damaged, then this option will pay you the previously agreed upon amount for your settlement.

Actual Cash Value Settlement:  This coverage is less expensive and may be the only option for some older boats.  The payment for a loss is the actual cash value of the boat at the time of the loss.  Usually companies use values from the Kelley Power Sports Blue Book or the NADA to help adjust the claim.

Disappearing Deductible Option:  If available, this endorsement reduces the deductible by 25 percent at each claim free renewal.  The renewal insurance policy, after four claim-free years, drops to zero.  After a claim, the deductible returns to the original amount.

Interested to see what the right watercraft insurance can do for you?  Then contact the experts at PowerSports Insurance Agency for assistance with your coverage needs.