What boat & watercraft insurance covers

Physical damage pays to repair or replace the hull and its permanently attached equipment, the outboard or inboard, and the trailer, after collision, sinking, fire, theft, storm or vandalism. Agreed value fixes the payout for a total loss at a number set when the policy is written and pays partial losses without depreciation on most parts; actual cash value pays what the boat was worth the day it was lost, which for an older hull can be a fraction of what a replacement costs. The trailer is a separate item with its own value, and it is the item owners most often forget to list.

Liability pays for injuries and property damage you cause with the boat: a collision with another boat, a dock you hit coming in, a swimmer struck by the prop, and wake damage to moored boats. Skier and wakeboarder liability, covering the person you are towing, is included with some carriers and endorsed with others; it needs to be on the page if you tow. Defense is paid as part of the coverage, and an umbrella can sit above the limit.

Medical payments pays the medical bills of the people on board, and often a skier being towed, without anyone establishing fault. Uninsured boater coverage pays for your injuries when the operator who hit you carries no liability coverage, which on the water is common because many states do not require boat liability at all and the lakes we serve draw operators from all over the West.

On-water towing pays for a tow back to the ramp or the marina when the engine quits, a service that costs far more on the water than on the highway. Wreck removal and salvage pays to raise and remove a boat that has sunk or run aground, which the lake authority will require and which can cost more than the hull was worth. Fuel spill liability pays the cleanup after a sinking or a fuel leak, a responsibility federal law places on the owner regardless of fault.

Personal effects and fishing equipment endorsements pay for rods, electronics, coolers and gear that the hull coverage does not, at their own limits. The navigation area is the line on the page that says where the policy applies; inland lakes and rivers within the continental states is the usual territory, and a trip to the Baja coast or the Pacific needs an extension in advance. Mexico also requires liability from a Mexican insurer, which is a separate purchase we can arrange.