How Do I Choose The Right Boat Insurance For Me?

Choosing the right boat insurance for you means that you will be purchasing adequate coverage for your vessel. Additionally, you can save money by only paying premiums for the coverage you need. The insurance experts at Carr Insurance Group developed this guide to help you choose the right watercraft insurance for you in Maryville, TN.

Boat Insurance: What You Need To Know

1. What Type of Vessel Do You Have?

If you own a small boat like a canoe or small sailboat, a homeowners or renters insurance policy with limited property coverage will be enough, and you don’t need to get boat insurance. However, if you have a larger and faster boat, you will need dedicated watercraft insurance with several add-ons.

2. Understand the Types of Watercraft Insurance Options Available to You

There are various watercraft options available to residents of Maryville TN, such as;

• Vessel damage: This policy covers your boat if it’s damaged by natural disasters, vandalism, collision, and theft
• Personal injuries: This watercraft policy covers the medical expenses of your passengers in the boat, and you
• Equipment loss: This coverage takes care of damaged permanently attached boat equipment such as motors and anchors
• Property liability: This policy provides coverage for damage that your vessel causes to other people’s property
• Passenger liability: This coverage takes care of the property damage and injury to persons that occurs when a passenger drives the vessel with your permission

3. Assess Your Risks

Analyze the risks that your boat is likely to encounter and purchase insurance for the first. For example, vessel damage and property liability are a must-have if you regularly sail your boat near other boats. You can forego passenger liability if you never bring passengers aboard your vessel. Only get watercraft insurance for the risks that apply to your situation.

Contact Us Today

Do you have more questions on watercraft insurance in Maryville, TN? Insurance experts at Carr Insurance Group are ready to provide answers. Call us today.