A boat owners policy does not cover normal wear and tear, lack of maintenance, gradual deterioration, damage from animals, marine animals, damage from insects, mold, sharks, mussels and other marine life.
A boat owners policy also does not cover damage from improper storage or defective items or damage from ice and freezing, normal wear and tear, marring, denting, manufacturer defects, design defects.
Boat motor insurance works by protecting your boat and providing financial protection if you're liable for damages or injuries to others while boating.
Boat insurance can also cover physical damage to your boat, theft, property damage, medical payments and much more.
Depending on your boat insurance policy it might also cover fuel spills, wreckage removal, mechanical breakdowns, towing, water sports and fishing equipment and damages to the boat.
Each type of boat insurance coverage also has a different deductible and the most common way to reduce your boat insurance premium is to select a higher deductible amount.
The rate you pay for boat insurance will be based on many factors which include the value, length and the age of the boat, the type of the boat and your experience boating and any claims history you have.
Boat insurance does cover trolling motor if it's damaged in an accident, fire, storm, collision etc.
However boat insurance does not cover a trolling motor that was simply wore out due to normal wear and tear.
Collision boat insurance coverage pays for damage to the trolling motor if you're in a covered accident with another boat or object.
Comprehensive boat insurance coverage helps to cover any damage to your trolling motor from things other than a collision, like fire, storms or theft.
Boat insurance does cover electronics that are permanently attached to the boat such as fish finders, GPS devices, motors, anchors etc.
Some boat insurance policies also cover personal property such as scuba gear, laptops, marine electronics etc.
Boat insurance does cover hurricane damage but it depends on the type of insurance policy you have.
Named storm insurance is a standard boat insurance policy which covers damage caused by storms, typhoons, tropical depressions and hurricanes.
Comprehensive coverage covers repairs or replacement for damage that is caused by a storm or hurricane, unless the insurance policy explicitly states otherwise.
However a liability only boat insurance policy does not cover any storm related damage to the boat.
Boat insurance covers scratches if the scratches occurred due to a covered accident but not because of normal wear and tear.
Boat insurance also does not cover normal and gradual deterioration, weathering, insects, animals, mold, damage from marine life, fading paint, engine wear and propeller damage.
Boat insurance covers cracked hull if your boat insurance policy has hull coverage.
Hull coverage on a boat insurance policy covers the cost of a damaged or cracked hull and other parts of the boat that get physical damage that are caused by common risks such as sinking, collision, storms, theft and fire.
Each boat insurance policy has a maximum amount that it will pay out for a covered loss and you usually need to pay a deductible which is your share of the covered claim before you get payment from your insurance provider.
The two types of boat insurance are agreed value insurance and actual cash value insurance.
Agreed value boat insurance covers the boat's value when the policy was written, even if the boat is a total loss.
This kind of boat insurance policy can cost more upfront although there is no depreciation.
Actual cash value boat insurance covers the boat's actual cash value at the time of a total or a partial loss.
This kind of boat insurance policy costs less upfront although it also factors in depreciation and as the boat ages the insurer will likely require an actual cash value policy.
Boat insurance is a good idea even if your state does not require it.
Without a good boat insurance policy, it can be expensive to deal with the damages to the boat in the event of an unexpected repair or accident.
Liability boat insurance covers the costs if you injure someone or damage their property with your boat which includes medical bills, clean up costs and lost income.
Hull insurance is also known as comprehensive and collision coverage which protects your boat from physical damage.
Actual cash value boat insurance pays up to the boats current market value if it's a total loss although it factors in depreciation.
Marine insurance covers a variety of watercraft which includes boats, sailboats, yachts and personal watercraft.
Boat and PWC rental insurance covers damage to the vessel, operator and passengers.
Boat clubs cover all club members while they operate the boat.
Boat insurance is a good idea even if your state does not require it.
Without a good boat insurance policy, it can be expensive to deal with the damages to the boat in the event of an unexpected repair or accident.
The right boat insurance also protects you if someone gets injured while riding in or operating your boat.
The 2 states that require insurance for most motor boats are Utah and Arkansas.
For example in the state of Arkansas, all boat-owners must carry liability insurance on vessels that have engines of over 50 horsepower, and you are also required to register all boats with engines or sails that will use public waterways.
If you're hauling your boat on a trailer, you'll also need to register and present a title for the boat trailer.
If docking your boat at a Marina many marinas also require you to have proof of boat insurance.
Or if you're financing your boat then the lender will require you to have boat insurance.
And if your boat is over 27 foot long then you may require yacht insurance and older boats may also benefit from an agreed value policy that provides a predetermined payout.
In addition to liability boat insurance you can also get other coverage options for your boat which include.
Emergency service insurance that covers towing, fuel, labor, dead battery and more.
You can also get GAP insurance that covers the difference between your boats appraised value and your outstanding balance.
Depending on the size of your boats engine you may also be able to get liability boat insurance coverage under your home insurance policy.
Without a good boat insurance policy, it can be expensive to deal with the damages to the boat in the event of an unexpected repair or accident.
The right boat insurance also protects you if someone gets injured while riding in or operating your boat.