Standard Boat Coverage

• Collision
• Comprehensive
• Medical Pay
• Uninsured Boaters
• Bodily Injury and Property Damage Liability

Most companies offer the standard set of coverages as well as specialized coverage on boat policies. Special coverages can come in handy. Emergency towing and wreckage removal can be very expensive if you do not have the coverage included.

Specialized Coverages

• Replacement cost personal effects – Your personal items are protected with this coverage. These items include cell phones, cameras, clothes, etc.
•  Replacement cost fishing equipment – This replaces $10,000 for reels, rods, and tackle.
• Disappearing deductibles – The deductible is decreased by 25 percent at each claim-free renewal.
• Total loss replacement – This replaces your boat with a brand new one similar to your old boat.
• Wreckage removal coverage
• Emergency towing and labor – Supplies on-water towing service.
• 24-hour roadside assistance – Covers tow vehicle and trailer

Total Loss Replacement

This is generally available on previously untitled boats. These boats are usually one model old. There are other boats that are insured for actual cash value or the agreed value. You need to make sure you understand your policy when you read it.

Wreckage Removal Coverage

The insurance company will pay reasonable costs for actual or attempted removal, rising, or destruction of the wreckage of an insured boat resulting from any loss. Physical damage coverage is provided, as well. The limit of liability varies. It varies based on whether you are legally required to remove, raise, or destroy the boat.

You can look for a simple boat policy to cover your boat. Ensure your agent knows what you want when you purchase your policy so that you are not paying extra money for your boat policy.