Recreational boating can be an exhilarating pastime. It is great way to spend time with the family, soak in the summer sun, do fishing and generally be close to nature. If you are headed out to the lake this summer, do not let worries about boat insurance spoil the fun. Regardless of whether your boat is docked or on the water, you need to have watercraft craft insurance to protect you against any losses stemming from damage to the boat or injuries resulting from its use.
Insurance policies are available from all major insurance carriers for most kind of personal watercraft (PWC) and recreational boats. Typically, insurance companies offer policies for personal use boats that are up to 26 feet long and $250,0000 in value. Though many homeowners’ insurance policies do provide some coverage for boats, they are typically inadequate and do not always cover boating injuries or certain accidents like those related to water skiing. Personal watercraft policies offer specialized coverage such as towing, fuel spill liability, noncontact accidents caused by the wash of your boat and wreckage removal in the event of an accident. They also typically provide coverage for personal effects and equipment on board your boat like radio and navigation equipment and fishing gear. Importantly, a homeowners’ policy only offers coverage on the depreciated value of your boat. So, if your watercraft gets totaled in an accident or a storm, you will only get paid the depreciated cash value of the boat. Most boating insurance policies will give you the option of buying replacement cost coverage for your boat.
The insurance professionals at Wraith, Scarlett & Randolph have decades of experience providing coverage for members of the boating community in Woodland, California and surrounding areas. If you live here and are shopping for insurance for your boat or personal watercraft, contact them at Wraith, Scarlett & Randolph