Boat Insurance Claims

If you own a recreational boat, or motorized watercraft of any sort, it is highly recommended that you purchase recreational boat insurance. The requirements of boat insurance vary state to state, and the majority of boat insurance policies are tailored to the policyholder and their specific needs. Protect your investment and its contents with recreational boat insurance.

A boat insurance policy is intended to cover the policyholder in the case of loss or damage to the watercraft and/or passengers. A typical boat insurance policy will cover any watercraft with a motor, and tends to exclude smaller watercrafts such as kayaks or canoes. For these watercrafts, you may be able to find some limited coverage located within your homeowner’s insurance policy.

Normally, boat insurance covers collision damage, or repair or replacement of your boat in case of accident. Collision damage coverage may or may not automatically include coverage for the clean-up of wreckage. In these cases, salvage coverage may be necessary. In the occurrence of the sinking of a boat, an optional coverage option would be agreed value coverage, in which you then would be paid the entire agreed upon amount, with no deductible for a total loss. Another coverage typically found within boat insurance policies is property damage liability coverage. This coverage is in the instance that a policyholder damages another boat, dock or any other physical property of another with their boat.

Additionally, bodily injury liability is an optional coverage when purchasing a boat insurance policy. This coverage is in the case that you cause bodily harm to another individual while operating your boat. Bodily injury liability covers any medical bills that might occur from the bodily harm, any lost wages in the time of recuperation, pain and suffering (physical or emotional) or any other pertaining legal expenses. Furthermore, an insurance coverage option to consider when purchasing your recreational boat insurance policy is the uninsured boater coverage. This amendment to your policy will protect you in the instance of bodily injury at the hands of an owner/operator of another vessel who they themselves are uninsured.

Comprehensive coverage on a boat covers a policyholder in the event of damage, vandalism, or another incident apart from a direct collision. Fishing supplies and oil spills are also optional coverage options to look into when shopping for a recreational boat insurance policy. If you have a trailer that hooks up to your boat, there are separate insurance coverage options for that. Also varying policy to policy, is insurance coverage on the boat’s engine.

It is recommended to a policyholder that all of these coverage options be highly considered.

In The Event of a Boat Loss:

Just because the waters have been choppy, doesn’t mean your insurance claim cannot go smoothly. As the policyholder, it is important to ensure that if possible, no further damage occurs to your vessel. The more information you can provide your insurance provider with, the better. Pictures and claim numbers are always optimal. If your boat insurance claim involves other people, names, numbers and insurance providers are pertinent.

If your boat insurance claim has been denied, delayed or underpaid, please call the Merlin Law Group today for a free consultation.