Is your personal watercraft listed among the National Insurance Crime Bureau’s (NICB) five most stolen watersport items? Jet skis, runabouts, utility boats, cruisers, and sailboats are on thieves’ list of favorites. What’s worse, fewer than half of stolen watercraft are recovered.
In addition to theft, watercrafts are vulnerable to damage in storage and during transport to the shore. If you keep your boat at the marina, you have further concerns regarding physical damage from storms, accidents, and vandalism. Beyond property damage, you also need to insure against liability you may have for injury to others or damage done to their property resulting from your actions or vehicle. That could include incidents occurring from use of your watercraft by others, so make sure your boater’s insurance policy covers lending out your craft for others’ use.
Don’t assume your boater’s policy covers all your watercraft wherever you go. Check with your agent to make sure you are insured for each of your personal watercraft both in storage and in use. By insuring with the same company for auto, home, and boat, you may qualify for a discount.
For more questions about boaters insurance, or any insurance needs, contact the Hills Insurance Agency and we’ll be glad to assist you.Reprinted by permission, The Mines Press, Inc. Volume 42, Issue 3 Insurance products are not a deposit, not FDIC insured, not insured by any federal government agency, carry no bank guarantee, and may go down in value.