Here at Mr. Auto Insurance, we want to help you get the right insurance coverage for your needs, and we offer a wide variety of insurance to make that happen. For example, we provide not just standard auto insurance but also more exotic policies such as watercraft insurance. In this article, we will go over some key things you need to know about watercraft insurance in order to make an informed decision on the matter.
What Watercraft Insurance Covers
Watercraft insurance is an umbrella term that covers three separate types of policies: boat insurance, yacht insurance, and personal watercraft insurance (which covers things like jet skis). This type of policy applies to water vessels powered by motors that have sufficient horsepower to travel at least 25 mph and covers costs associated with damage, theft, or towing of the craft.
Watercraft Insurance and Liability
Many watercraft insurance policies include liability coverage, which is designed to protect you in the event that anyone becomes injured while on your boat. However, some policies only offer this coverage as an optional add-on. Our team will go over your options in detail and help you select the best policy for your needs.
Small Craft and Watercraft Insurance
If you have a boat or watercraft that does not meet the 25-mph horsepower requirement, such as a canoe, kayak, or small sailboat, then it’s likely that damage to this craft will be covered under your homeowners or renters insurance policy, making specific watercraft insurance unnecessary. However, your homeowners insurance is unlikely to include liability coverage for injuries or damages incurred while using this small craft, so you should keep that in mind.