Boat Insurance for Your First Boat

The feel of the wind in your hair, the fact that you are far out into the water where no one can bother you and the fact that you get to enjoy your time the way you want makes boat ownership ideal. Yet, you are making a sizable investment into your new vessel. As such, you need to be sure you’ve taken every step to protect it. Perhaps you’ve selected the safest marina and invested in a high-quality boat. Now, think about boat insurance. 


What Type of Boat Insurance Do You Need? 


Boat insurance is much like that which you would obtain for a vehicle with a few differences. As you take the time to consider your policy options, factor in these areas of concern. 


Protect its Value 


The first step in boat insurance is to protect the boat itself. There are various ways to do this. The goal is to protect it from risks such as fire, theft, vandalism and related losses. You also want to ensure that your boat is protected in situations where the boat is in storage. Whether it is on the water, on the road getting to the water or in storage, comprehensive property insurance is necessary for most property owners. You’ll need coverage that is at least as much as the boat is worth. 


Protect Your Liability Risks 


Perhaps an inexperienced person is at the helm and an accident occurs. Even small bumps to another boat or other property can lead to substantial costs and losses. With the right type of boat liability insurance, you can minimize these risks. Boat insurance for liability risks should be applicable no matter where the boat is, no matter who was using it and no matter who is hurt. 


Additional Protections 


Many boat owners also need to consider additional protection. This might include roadside assistance, on-water towing coverage and total loss replacement. Don’t get overwhelmed. Instead, compare a variety of boat insurance policies until you find the one that works properly to meet all of your needs and reduces all of your risks. Then, and only then can you take your boat out onto the water with confidence knowing you are protected.