Watercraft & Boat Insurance
Like most vehicles, boats are susceptible to various incidents both out on the water and in storage. Boat insurance can limit potential out-of-pocket expenses following a covered accident.
What Does Boat Insurance Cover?
Policies differ among boat owners, but standard coverage typically includes the following:
- Liability coverage helps cover expenses if your boat causes damage to another person’s property.
- Medical payments coverage helps cover medical expenses if you or a passenger is injured on your boat.
- Boat insurance property coverage helps protect your boat from various risks and potential incidents by covering costs related to incidents such as theft or vandalism.
- Uninsured watercraft coverage helps cover expenses if an uninsured boater collides with you and causes injury to you or your passengers.
Reach out to Akin & Associates Insurance Group to learn about potential policy customization options.
Is Boat Insurance Required?
The state of Alabama does not require boat insurance. However, carrying coverage can limit potential accident-related costs. If an accident occurs and you do not have boat insurance, you may have to pay high out-of-pocket costs.
How Expensive Is Boat Insurance?
Boat insurance costs can vary significantly among policyholders. Insurance for a larger boat, such as a yacht, might be considerably more expensive than coverage for a standard speed boat. Additionally, your insurance carrier may use factors such as your insurance claim history and location to determine your coverage rate.
Contact Our Agency
If you are a boat owner near Decatur or Cullman, Alabama, the dedicated agents at Akin & Associates Insurance Group can assist you in learning more about insurance options to help you select the proper coverage for your boat.
Contact our agency today at 256-355-8500 to learn more.