Most homeowner’s or renter’s insurance policies offer policyholders the option of covering small boats such as canoes, sailboats, and small powerboats for a small fee, but owners of larger or faster watercraft such as yachts, large sailboats, wave runners, and jet skis will need separate Boat Insurance. These specialized insurance policies cover most watercraft with motors and offer collision damage, property liability damage, and bodily liability coverage at a minimum. Those boat owners who want their watercraft to be covered in the event of vandalism, theft, or damage in incidents that don’t involve collisions should look into comprehensive policies.

How it Works

The first decision that watercraft operators must make is what type of policy to take out. A variety of policy options are available, including some that cover consequential damage for losses due to perils such as fire and sinking as well as collisions. Some policies cover losses that result in the failure of parts as well so that watercraft owners whose boats have failed due to corrosion of its thru-hull would find that the damages related to the resultant sinking are covered despite the fact that corrosion is usually excluded in marine policies.

Choosing a Policy

The easiest way to find the right policy is, of course, to speak with an insurance agent in West Virginia who offers specialized watercraft insurance. These professionals can help boaters understand deductibles, policy options, and what will be covered in the event of a collision or another major disaster. Many boaters choose to take out all-risk policies, as these types of policies cover the widest possible array of problems that could come up.

What’s Covered

As noted above, different policies have different stipulations as to what is covered and what is not, so those who want to have maximum protection should look for a comprehensive plan. It’s wise to invest in an insurance policy that offers non-emergency towing and a certain degree of protection for any belongings boaters might take out on open waters such as watersports equipment, fishing gear, and personal items. Those who are looking to cut corners will find that basic policies are less expensive since they only offer limited protection for boats and their passengers.