The Ins and Outs of Boat Liability Insurance

When you are planning a day out on the water with friends and family, the last thing you want to think about is the possibility of an accident. Unfortunately, they do happen, and you could end up paying high costs out of pocket to cover damages caused by your boat or personal watercraft. Luckily, you can purchase¬†boat liability insurance¬†so that you don’t have to cover these high costs yourself.

What Is Covered by Boat Liability Insurance?

Boat liability insurance provides protection for a wide array of different things. This protection falls into two categories that cover bodily injury and property damage caused by incidents involving a watercraft.

Bodily Injury Liability Coverage

This type of coverage applies to injuries that occur as a result of you being involved in a boating crash. It can cover medical bills and loss of income related to the accident.

Liability Coverage for Property Damage

This part of the coverage applies to other people’s boats and property. If you get in an accident and damage someone else’s boat or property, this type of coverage kicks in and covers the cost of repair or replacement. It can also cover clean-up after the accident. For example, say your fuel tank ruptures during an accident and causes contamination, the fuel clean-up would be covered.

Owning a boat can be a lot of fun, but it does not come without a certain amount of risk. Purchase a good boat liability insurance plan today and give yourself better peace of mind.