Watercraft & Boat Insurance Information
Michigan residents are surrounded by the Great Lakes—Lake Superior, Lake Huron, Lake Erie and Lake Michigan— giving them ample opportunities to enjoy time on the water. Whether trolling for fish, waterskiing behind a powerboat or enjoying the sounds of nature on a pontoon, boats are a great way to spend time with family and friends.
Although boats are a great way to recreate, those who live in Michigan know it’s also a state where boats can’t be used year-round. This part-time use is an important consideration for your boat insurance that we’ll explore later.
How Does Boat Insurance Work?
If you own a small boat, such as a canoe or an unmotorized boat, then the personal property portion of your homeowners insurance policy will typically cover it. However, if you have a bigger, faster boat, you need separate boatowner’s insurance.
This coverage offers protection for your boat, motor, equipment and passengers. Boat insurance typically has similar coverage to your auto insurance policy and includes:
· Physical damage—This can insure your boat, motor, boat trailer, boat equipment (anchors, oars, fuel tanks, life jackets, dinghies, tools, etc.) and other personal property against theft, accidental loss or damages.
· Liability—Two principal liability coverages that are usually included are:
o Personal liability—Boatowners insurance typically can offer protection for legal liability. Up to your policy’s limit, it can pay the legal obligations imposed upon you due to an accident resulting from your watercraft’s ownership, maintenance, or use, including bodily injury, property damage and legal defense.
§ Medical payments—May pay medical expenses up to the limits in the policy, including the insured’s boating-related medical expenses from an accident arising out of the ownership, maintenance or use of the boat.
o Property damage liability—This type of liability coverage can provide protection for damages you or a covered policy member cause to a third party or their property while operating your boat.
How Does Part-Time Boat Insurance Work?
Because Michigan boats can’t be used all year long, it’s essential to know the storage requirements on your policy. For example, you may need to store your boat indoors. In addition, your boat insurance may not cover freezing, ice and certain pest damage. Some Michigan boat policies also have navigation limits on where you can take your boat. If you plan to operate your boat on the Great Lakes, ensure your boat insurance your policy covers cover that. Vozza Insurance can help you navigate the nuances of a Michigan boat policy and ensure you have suitable coverage for your boating needs.
Get More Protection
Additional types of insurance can provide even more protection for your boat, and they include:
· Emergency service. You can pay for reasonable costs resulting from specified emergency service to your boat, motor, or boat trailer.
· Reasonable repairs. May cover repairs incurred to protect your covered property from further damage.
· Wreck removal. May pay for reasonable expenses sustained for any attempted or actual raising, removal or destruction of your boat from an insured loss, and your wreck removal is required by law.
· Umbrella liability. Can provide additional coverage for home, auto and boat across the board.
How Much Does Boat Insurance Cost?
Your boat insurance policy depends on the type of boat and its use, the type of coverage you want, and if you want any supplemental coverage. We can help you obtain affordable coverage tailored to your needs.
Vozza Insurance can help you obtain suitable boat coverage. Call us toll-free at 800-668-5910 to get started.