Nothing says summer like taking a boat out on the open water. But before you set sail, make sure you and your investment are protected with the right coverage.
Boat insurancesafeguards against liability and accidental damage to the boat, as well as the cost of replacing your boat with a new model, fuel spills, salvage coverage, and wreck removal. You can also purchase additional coverage to protect your personal belongings, such as fishing gear and water sports equipment, and towing options both in and out of the water and while towing your boat.
GEICO's boat insurance program offers premium towing coverage for water breakdowns or roadside assistance. This service can be used in the event of tire punctures, vehicle breakdowns, or if you lock your keys in your truck. It is also available if you have an accident on a boat ramp. It's important to understand what your boat insurance covers and what it doesn't cover when you tow your boat to the water.
Boat insurance will cover physical damage to your boat trailer, but there is no liability coverage. To ensure you are covered while towing your boat, confirm that your car insurance provides coverage for towing a trailer before attempting to transport a boat on the road. You may need to purchase additional coverage. New boaters should keep in mind that some boat insurance policies require you to operate your boat within a specific geographical area.
If you are planning to travel by boat outside of this area, there are options to expand your coverage. Current GEICO auto policy holders, boaters with good driving records, and those who have passed boating safety courses may be eligible for discounts. To avoid any setbacks on the road, confirm that the level of towing of your vehicle is more than sufficient to transport your boat. Additionally, make sure you perform regular maintenance on your boat trailer by greasing the wheel bearings and trailer nuts, checking tire pressure, and making sure that the brakes and lights are working properly.
Boat trailer insuranceis included in the general scope of trailer insurance since you attach something to the back of your car that you can't see and over which you have less control. If you have boat insurance, you can choose to keep your boat stored in your cabin throughout the winter to keep your premiums low.
Taking a boating safety course, even if it is not legally required, can lower your boat insurance premiums. Boat trailer insurance specifically covers boat trailers since they are a very specialized item. It is also important to note that if you still have a loan for your boat (instead of being a full owner of the boat), the finance company will require you to have insurance for at least the remaining amount of the loan. Boat trailer insurance generally covers damage to the trailer whether it is stored at home or in a recreational area. Talk to your provider about combining your boat's towing insurance with other policies as this can save money. By talking to a trusted insurance professional who knows auto, boat and homeowner insurance, you can find a solution that provides you with the coverage you need at an affordable price.