If you’re a boat owner, acquiring boat insurance is worth considering. Unforeseen accidents can occur while a boat is on the water, in transit or in storage. Having boat insurance may limit out-of-pocket costs after a covered incident. 

What Is Boat Insurance? 

Boat insurance is coverage that boat owners get to protect themselves financially against accident-related costs. A standard policy typically requires you to pay an insurance premium to your insurance carrier in exchange for financial assistance after a covered accident occurs. 

What Does Boat Insurance Cover? 

Coverage varies among policyholders, but standard boat insurance typically includes: 

• Liability coverage provides financial assistance if your boat use results in an injury to a third party or causes damage to another person’s property.
• Medical payments coverage insures against medical expenses if you or a passenger gets injured on your boat.
• Boat insurance property coverage protects your boat from various risks and potential incidents by covering costs related to incidents such as engine damage, theft or vandalism.
• Uninsured watercraft coverage helps insure against expenses if an uninsured boater collides with you and damages your boat or causes injury to you or your passengers.
• Boat trailer coverage protects against expenses resulting from trailer-related incidents.  

Reach out to Cowey Insurance Group to learn about potential boat insurance coverage options. 

Do I Need Boat Insurance? 

Boat insurance is not technically required by law. However, certain marinas may require you to carry insurance to reduce their chances of covering accident expenses. Regardless of requirements, having boat insurance can be an excellent way to reduce the risk of covering high costs following boat-related incidents out-of-pocket. 

Learn More 

If you are a boat owner near New Bern, North Carolina, the Cowey Insurance Group agents can help you learn about potential boat insurance policies to assist you in deciding on the right coverage for your unique situation. 

Contact our agency today at 252-638-1345 to request a quote on a policy.