Everything you need to know about insurance basics, like coverage types, limits, cost and more.
Boat Liability Insurance
No matter what you use your watercraft for, whether it’s for fishing, skiing or leisure, accidents can happen. And while you’re a safe boater, what would happen if you caused an accident that injured someone or their property?
That’s why boat liability insurance is so important. Let’s take a look at how it protects you.
What Is Boat Liability Insurance?
Boat liability insurance helps financially protect you if you’re legally responsible for injuries or property damage resulting from accidents involving water skiers, swimmers, collision with other boats, collision with docks and more. Protecting yourself and operators of your watercraft for liability is as important as protecting your watercraft and equipment.
What Does Boat Liability Insurance Cover?
Liability coverage for boaters offers protection for a number of incidents that result in damage to another person or property. Typically, liability insurance covers:
Bodily injury liability. You’ll be covered for costs associated with injuries to other people that you’re responsible for causing. Bodily injury liability can help cover their medical expenses, hospital stay, rehabilitation and more.
Medical expense coverage. This provides coverage for bodily injury sustained in an accident regardless of who’s at fault. It can help pay for medical and funeral expenses. $1,000 medical expense coverage is included with your liability coverage, and you can increase limits up to $10,000.
Property damage liability. If you damage another person’s boat, dock or other property, property damage liability helps cover the cost.
Claim and defense expenses. If a lawsuit is filed against you, your liability insurance can help cover the legal defense costs you may have.
Umbrella Liability Insurance for Boats
For an additional financial safety net when you head on the water, umbrella liability insurance offers another layer of liability insurance for incidents where the cost goes above your primary liability limit. If you face a substantial claim or lawsuit, umbrella coverage helps pay the outstanding costs. So if the unexpected happens, you won’t have to dig into your life savings or sell off your hard-earned assets.
If you purchase umbrella liability insurance, it not only extends to your boat liability coverage, but it adds an extra layer of liability coverage over your other types of policies as well:
- Home (primary residence or seasonal)
- Recreational vehicles
- Certain rental properties
Having umbrella insurance is a great idea to have for boat owners who want the coverage in place to properly protect them from the unexpected.
Request a Boat Insurance Quote
Ready to find out how you can get the customized coverage you deserve? Connect with your American Family Insurance agent to learn more about liability insurance for your boat. Don’t forget to ask them about how bundling your policies can help you save!