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Boat and Yacht Insurance

Enjoying your boat or yacht purchase depends on more than whether the water is choppy or smooth. Personal watercraft or yacht insurance can provide peace of mind while protecting your prized possession and personal liability from unexpected financial risk or loss.

An aerial view of a sailboat in the sea.

Personal watercraft or yacht insurance can cover the costs of damages and losses resulting from an accident, damage to your watercraft or damage your boat does to others. Keep the following in mind as you analyze your options.

Know the common terms

Premium is the amount you’re required to pay your insurer for a specific amount of time for your insurance policy. This payment might be due all at once or it can be divided and paid in increments, typically monthly. Deductible is the amount you must pay before your insurance coverage begins. This payment is made in addition to the regular price of your premium.

Know your coverage

It is important to ensure that you have the proper coverage. Be sure to ask these questions.

•Does your policy provide coverage for damage to your watercraft?

•Does the policy provide coverage of damage to the equipment on the watercraft?

•Does the policy cover your liability and expenses if someone is injured on your watercraft?

•Does the policy cover damage your boat causes to others and guest liability?

Re-evaluate coverage on a periodic basis

You’ll want to re-evaluate your insurance coverage on a regular basis to be sure the coverage is meeting your changing needs.

Notices & Disclosures
Article is adapted from content provided by DTS.

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