How Does Boat Insurance Work?

If you own a boat, there are a lot of things you have to do to take care of that boat. One of these is getting boat insurance for it. Boat policies are written for the specific boat in question and how it will be used. The policy often takes into consideration the specific body of water that the boat will be in, which type of boat it is and its age. You may be eligible for discounts based on how safe a boater you are. If you need a boat policy specifically tailored to your boat, contact us right away at Vance Insurance Group LLC in Oklahoma City, OK.

Boat Damage

One of the biggest threats to boats is sustaining damage in a wide variety of circumstances. It may be bad weather or choppy lakes that cause the damage, or it may be a collision with another boat. If your boat ends up being damaged in one of the circumstances included in your boat policy, your policy can pay for the repairs. This applies to the hull of the boat, but it also applies to specific parts of the boat. Boat repairs can be costly, and a boat replacement is especially so, making it vital to have this type of coverage for your boat.

Liability Costs

If your boat causes an accident, is involved in an accident or has struck a dock, pier, or boathouse, you will likely be held liable for all of the resulting repairs and medical costs. This can be extremely costly and difficult to pay on your own, especially with a serious accident. To keep your finances protected, there is liability coverage in your boat insurance policy. 

Cover Your Boat

If you have a boat and don’t yet have a policy for it, contact us today at Vance Insurance Group LLC in Oklahoma City, OK.