When it comes to boat insurance, it can help protect you from a variety of unexpected events. It can cover a broken engine, a cracked engine block, or damage to the lower unit. However, this coverage does not extend to negligence. Your boat's engine is usually covered by your policy, but only in the event of a covered event such as a collision with another boat.
Your insurance agent can provide more information about how your coverage protects your boat from the unexpected. They can also answer questions such as how much boat insurance costs, how much coverage you need, and where to get boat insurance. When it comes to engine damage, many policies cover a broken engine when the cause is a manufacturer's defect. However, normal wear and tear or negligence is not covered. The comprehensive and collision coverage of your boat insurance policy will normally cover the actual cash value of your boat.
In some cases, your boat insurance policy may not provide compensation for an accident. It is important to note that the boat coverage included in your home insurance policy is not intended for all types of boats. Whether you are out on the water or on your way home with your boat, understanding what is covered by your policy is essential. Boat insurance typically includes coverage for physical damage, civil liability, boat equipment, medical expenses, and cleaning up fuel or oil spills. If your non-motorized boat sinks due to a covered event such as a storm and your policy includes coverage against physical damage, then you may be able to make a claim. However, insuring your non-motorized boat may be beneficial if you are concerned about thefts, accidents, and events in the water that could cause damage and injury. If your engine breaks down due to normal wear and tear or negligence, then your boat insurance probably won't cover you.
The amount of boat insurance you need depends on several factors such as the value of the boat, the size of the engine, how old it is and how you use it. You may also be eligible for discounts if you have taken a navigation safety course or have an impeccable driving record. Keep in mind that personal property coverage may not extend to damage caused while you're not on the property of your residence. In this case, the comprehensive coverage of a boat insurance policy may come into play. For example, if your boat was damaged in an attempted robbery when it wasn't on your property, then your home insurance policy may not cover the damage.