What Are Some Common Claims Made Under Boat Insurance Policies?

Boat insurance policies offer protection against a wide range of risks, including damage to the boat, medical bills if someone is hurt on board, and liability in the event that someone is injured or property is damaged due to an accident. An important consideration for boat owners is whether their policy will cover them if they are at fault in an accident. Policies typically require that you exercise reasonable care when operating your boat and maintain adequate liability coverage. The Ryan Insurance Agency can help you in Clarkston, MI. 

Learning About Insurance Policy Claims 

Boat insurance policies offer coverage for a variety of risks. Depending on the type of boat you have, it may be required to have certain types of insurance. For example, most boats that exceed 10 feet in length are required to have liability insurance, which covers any damage your boat causes to another person or property. Most policies will also offer coverage for medical expenses if someone is injured on your boat, as well as lost wages if they are unable to work. In the event of an accident or sinking, most policies will also offer coverage for the value of the boat itself. 

Boats can be expensive, and their owners want to protect themselves from large repair bills in the event of an accident. Some common claims that you might find on a boat insurance policy include accidental sinking, false arrest, liability protection, collision, and liability for personal property in the case of a fire caused by the boat’s electrical systems. Other common claims for boat insurance include: 

  • Sinking due to a mechanical failure
  • Hauling a boat that is damaged due to a collision
  • Personal injuries from a fall from a boat
  • Docking/gar slip and fall on a boat slip or pier
  • Collision with a fixed object like a dock or pier
  • Damage to a dinghy or outboard motor that you were towing
  • Boarding a risky dinghy
  • Damage to a jet ski due to a collision
  • Hauling a jet ski that is damaged due to a collision

Final Words 

Boats are often large assets, and these assets are at risk if not adequately protected. A boat insurance policy can help to protect the boat owner if the boat is damaged or destroyed due to a covered cause. Some common claims made under boat insurance policies include coverage for accidental damage, liability, and mechanical breakdown. For inquiries, The Ryan Insurance Agency in Clarkston, MI can help you get started.