Boat/Watercraft Insurance

Boat and watercraft insurance is not state-mandated in Virginia. If you are financing your watercraft, your lender will require you to secure boat insurance to protect their assets until you pay it off. Some marinas will also require you to have boat insurance to use them. This protects their property in the case that you damage their docks or any other equipment.

What Types of Things Do Boat and Watercraft Insurance Cover?

Boat and watercraft insurance covers many items as vehicle insurance does, but for travel on the water instead of on roads. Boat insurance covers property damage liability in the case that you hit a dock or other structure. They also cover bodily injury liability if you are at fault for an accident and people on the other boat are injured.

• Underinsured and uninsured boaters insurance covers damages to your boat if you are in an accident and the other party is at fault and has either not enough insurance or no insurance to cover your damages.
• Medical payments cover medical issues for you and the others on your boat and for injuries to others on another boat, no matter who is at fault for the accident.
• Physical damage coverage is the same as comprehensive coverage on a car. It covers damage to your watercraft that is caused by anything other than an accident. This can include wind and hail damage or damage from a tree limb falling on your boat.

What are Additional Watercraft Insurance Coverages?

You can also get specialized coverage for items on your boat, such as expensive fishing equipment or an extra trolling motor, as well as coverage for personal items you take on the boat, such as phones and tablets.

• Roadside assistance will help if you get a flat tire while towing your boat so that you can get back on the road to your destination.
• Fuel spills and accident coverage covers the removal of all the debris from the water after an accident.

At Teagle Insurance Agency Inc. in Virginia, we understand that watercraft insurance can be confusing, and we are here to help you get the coverage you need. You can call us or come by the office to talk to a highly experienced agent about boat and watercraft insurance.