There’s nothing like being out on the water. Between the cool breeze, the bright sun, and the thrilling waves, there’s no better way to spend a glorious summer day. The one thing that can make your boating experience great is knowing that you, your guests, and your property are covered by a reliable insurance plan. Learn how to build the right policy for your needs with this rundown of what boat insurance is and what it covers.

An Introduction to Boat Insurance

Like car insurance or homeowners’ insurance, boat insurance gives you peace of mind if you own a boat or personal watercraft. A good boat insurance policy covers liability payments after an accident. Your policy can also cover damage to your boat or injury to yourself and others after a boating accident or other disaster, such as fire or storms. Some policies also cover expenses if someone steals your boat. Like all forms of insurance, you must build your own policy and pick the coverages you want. The following are some of the most common forms of boat insurance coverage.

Property Coverage

Property coverage protects your property after theft, an accident, or other damage. Property coverage can help pay for boat repairs or even replacements if necessary. There are two types of property coverage to choose from: actual cash value coverage or agreed amount coverage. These options determine how much your insurance company pays after an incident. Actual cash value means the provider will cover the current value of the boat, which may decrease over time. Agreed amount coverage means the provider pays a coverage amount that you both agree upon when you purchase the coverage.

Liability Coverage

Liability coverage pays for expenses to other parties if you cause an accident. This includes both property damage and personal injury or death. Damage can stem from both direct and indirect contact. For example, someone who isn’t near your boat might still suffer from large wakes you make if you’re driving recklessly. Staying aware of these and other risks helps you find the right amount of liability coverage for your policy.

Medical Payments Coverage

Liability coverage protects others, but medical payments coverage protects you and your passengers. If someone on your boat suffers an injury after an incident, medical payments coverage helps pay for hospital bills, medications, and other medical expenses.

Uninsured Boater Coverage

If another boater causes an accident, their liability insurance should cover any medical expenses or property damage they caused you. Unfortunately, not everyone has an insurance policy that can cover their expenses when needed. Uninsured or underinsured boater coverage pays for your expenses if another person’s insurance can’t cover you.

Learning what boat insurance is and what it covers is the first step to finding the policy that fits your needs. If you need boat insurance in Southern California, work with the experts at Saferoad Insurance. We’ll help you find the coverage you need to feel safe and secure every time you hit the water.