Our boat insurance policy helps make your time on the water problematic-free and relaxed. We can link you with a comprehensive cover that secures you, your family, friends, watercraft, and boating equipment. You will have a fun time in the water knowing that you, your passengers, and your investment are safe.
Why Boat Insurance is Important
Good boat insurance has liability coverage, medical payments, covers a large navigation area, physical damage coverage, personal belongings, fuel spill liability and wreckage removal, emergency assistance, and unattached equipment coverage.
Questions About Boat Insurance?
We are here to help you make policy and coverage decisions for your family and your property. Give us a call here at Giddings Agencies and we can walk you through what is available in your area.
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There’s more to insurance than the price of the policy.
Explore our interactive graphics and learn about your unique risks and the related insurance solutions.
Agreed Value vs Actual Value
A boat's value and price can vary greatly. A loss can have a significant impact on how much coverage your insurance company will pay when a loss occurs.
In the long run, boats' value diminishes over time, so their current value may differ significantly from what it would cost to replace them. A policyholder and the insurer agree on an amount as the agreed value. Regardless of whether the boat has depreciated in value since the policy was issued, a claim will be paid based on the insured value. When a boat is destroyed, its actual value determines whether an insurance company will pay what would be needed to replace it, and the boat owner will have to pay the difference.
Towing & Assistance
It may be necessary to have your boat towed or to have fuel brought to you if it breaks down or runs out of fuel on the water.
Expenses associated with towing, refueling, or towing your boat can be covered by towing and assistance coverage.
Property Damage Liability Coverage
Boats are always at risk of damaging someone else's property, whether they are operated on lakes, rivers, bays, or oceans. It is possible for your boat to be damaged by hitting another boat or the dock on a windy day when you are trying to dock it.
Your property damage liability is protected in case your watercraft damages another person's property. Examples include boats, small watercraft, docks, and pilings damaged by your watercraft. You could find yourself financially devastated if found at fault if your insurance doesn't cover the tens of thousands of dollars in damage.
Underinsured / Uninsured Boats
Can you be compensated for damage or injuries caused by an operator of a personal watercraft without adequate liability insurance? Other parties may not be able to pay, which will leave you with out-of-pocket expenses.
If you are involved in a boating accident with another boater who is uninsured or underinsured, your uninsured/underinsured coverage may pay for the damage. Physical or bodily injury damages can be covered by this coverage.
Pollution Liability Coverage
Your boat or watercraft could have a leak and spill fuel if it is involved in a collision or salvage operation. In such situations, you may be liable for damaged caused by you or your negligence.
Liability coverage for pollution or fuel spills protects you in the event of a fuel spill or leak. Cleanup and restoration costs can be covered by this policy.
Damage to your boat caused by collisions with other vessels or docks, rocks, or submerged objects could result in significant repair or replacement costs. There are other possible causes of boat damage, including vandalism, explosions or fires, weather conditions, and falling objects.
A collision policy covers collisions between your vessel and another object, while a comprehensive policy covers vandalism, weather damage, and theft. You are usually responsible for paying a deductible before you receive coverage under this policy.