Your Guide to Boat Insurance

As a proud boat owner, you want to do everything in your power to take care of your vessel and ensure the sanctity of your investment. One of the best ways to protect yourself and your boat is to insure it. You never know what could happen out on the water or even at the marina, which is why it pays to have coverage to deal with repair costs, damages, legal fees, or medical bills.

1. What Is Boat Insurance?

There are insurance policies available for your boat, just as there are for cars, trucks, motorcycles, and recreational vehicles. Boat insurance policies provide you with coverage in case of an incident. Your boat might be caught in an accident on the water, it might be damaged in a storm, or someone may be injured while on your boat. Boat insurance provides coverage for all these problems. The insurance coverage will vary depending on the type of boat you have, how old it is, and how much you want to spend on your policy.

2. Why Is Boat Insurance Necessary?

Some jurisdictions in the United States require boat insurance. Also, even without that consideration, insurance provides you with financial security to help protect you in the event of an accident that causes damage to your boat. Some homeowners’ insurance policies may cover your boat partly, but having a separate policy specifically for your vessel will help protect you in a lot of circumstances, including collisions on the water, medical payments, legal fees, and damage to property.

3. What Type of Boat Insurance Should I Get?

Boat insurance comes in many different types to ensure coverage for a wide variety of models. How old your boat is, how big it is, how much it’s valued, and where you plan to use the boat will all factor into the type of coverage you get. Most policies will protect property damage to your boat or damages caused in an accident or collision. Some special coverage options can protect passengers and specific pieces of equipment.

Ready to check out some high-quality boats for sale? Visit our dealership in Clackamas, Oregon, to browse our selection today! Portland Marine & Electronics proudly serves Portland, Oregon, and Vancouver, Washington.