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Boat and Watercraft Insurance

white and blue powerboat aheadWhy You Need Insurance For your Boat or Personal Watercraft?

Serving Denver, Golden, Lakewood, Arvada, Morrison, Evergreen, Littleton and Summit County

You’ll enjoy the water even more when you’re not worried about the safety of yourself, your passengers or passengers on other boats. Also, your watercraft has value, you’d hate to lose it in an uninsured loss. Still, many people don’t purchase watercraft insurance even though it is extremely cheap to purchase.

Facts to Consider about Boat Accidents and Mishaps:

  • If you or any passengers are injured in an accident, medical costs can be extremely expensive. How is this covered by the policy
  • If you’re in an accident on the water or your watercraft is stolen, it costs money, often a lot of money, to fix or replace it.
  • If the operation of your watercraft is responsible for damage or injury to others, you can be held liable to injuries to others and property damage you cause. You need liability coverage to pay for this.
  • Your watercraft also needs protection when it’s on land. Accidents can happen while towing or loading/unloading a watercraft.
  • It’s just as important to insure your watercraft as it is to insure your auto, home or business. It’s a good idea to seek the advice of a professional.

Questions to Ask Your Agent When Purchasing Boat Insurance

  • Is my boat or watercraft covered for use year-round?
  • What discounts and programs are available?
  • How much medical insurance and liability coverage is enough?
  • Do I have coverage if I need to have my boat towed in an emergency?
  • Are other people allowed to drive my boat, other than those listed directly on the policy?
  • How do I get coverage for my trailer and personal items such as life jackets, water skies etc?
  • Can I get boat coverage if my boat is stored and used primarily in a different state?
  • Will my liability umbrella policy provide me boat liability automatically?

Boat – Available Coverage

  • Bodily Injury – Coverage to Others for Injuries you caused
  • Property Damage – To repair or replace property of others that you damaged
  • Guest Passenger Liability – Pays for injuries to guests if injured on your boat
  • Medical Payments – Pays for injuries on your boat, regardless of fault
  • Comprehensive and Collision – to cover damage to your boat
  • Towing and Emergency Assistant while being towed on the road or in the water
  • Boat Contents – Coverage for your personal belongings on the boat

Home Insurance policies may provide Some Coverage for Boats

Most home insurance policies may automatically include (or be endorsed to provide) liability coverage for small and/or low powered boats such as sailboats or fishing trollers. They use the length of boat and horsepower of engine to determine eligibility for coverage. See if your boat qualifies but, remember a claim on your home policy will most likely be subject to the home’s deductible and could impact the cost of the home policy going forward.  Also, most home policies will provide theft coverage for a boat, trailer or personal watercraft if it is ‘parked’ at your home residence The policy may afford coverage as your ‘personal property’. But check with your agent to make sure. Coverage for theft that occurs anywhere away from your ‘residence’ would not have coverage unless a boat policy is purchased.

Denver West Insurance Brokers is a local, independent insurance agency, but we have clients all over the State of Colorado. We serve the Denver metro area, Golden, Lakewood, Arvada, Wheat Ridge, Littleton, Morrison, Evergreen, and all of the mountain region. Send us an Email or call us at 303-960-5290 and find out how inexpensive and important these policies are.