Despite what you may believe, boat insurance is very similar to any other kind of insurance you may purchase. Just like other insurances, there are many different types of coverage options available to Brandon, FL boat owners. Runnels Insurance shares some insight into boat insurance coverage.
Hull Damage
This coverage offers protection from the vessel’s structure. As a general rule, hull damage coverage will protect against physical damage that occurs from storms, collisions, theft, fire, and more.
Personal Property/Equipment Damage
There is the option to extend your coverage so it protects personal property and equipment as it relates to your boat. Therefore, this type of coverage protects wakeboards, water skis, fishing equipment, and much more. Usually, this coverage protects against accidental damage as well as loss.
Bodily Injury and Property Damage Liability
Bodily injury liability coverage offers protection for when a third party suffers an injury while using your boat. Property damage liability coverage offers protection for when you are liable for damage to property. Both of these are very common coverages purchased by boat owners.
Medical Payments
This coverage offers protection in the event someone suffers an injury while getting onto, getting off, or enjoying your watercraft. This coverage may include payments for hospital expenses, ambulance bills, etc. This coverage will take hold even if you are deemed responsible for the accident.
Named Storm Damage
As a boat owner, you are likely aware of the potential damage a named storm can have on your boat. When your water vessel suffers damage as a result of a named tropical depression, tropical storm, or category hurricane, this type of coverage kicks in and pays for repairs. If you live in an area that receives this type of weather regularly, named storm coverage is critical.
When you need to protect your watercraft, contact the professionals at Runnels Insurance, serving Brandon, FL, for help in putting together a solid boat insurance policy.
