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Having proper boat or watercraft insurance is crucial to ensure Folsom residents are financially protected. Many people assume you only need a policy for an expensive boat that would cost thousands to replace, but that’s not necessarily true.
Policies for Rowboats
Most boat insurance policies can be applied to any type of boat, including standard rowboats. You may require less coverage for a rowboat since the replacement cost is lower, which can reduce monthly premiums. An agent at T.D. McNeil Insurance Services can help you explore available options.
Required in Certain Situations
In some situations, a boat insurance policy is required, even for rowboats. For example, many lenders require boat owners to maintain specific coverage to protect their investment. A lapse in coverage could result in the repossession of your boat.
Additionally, most marinas require minimum liability coverage to dock any watercraft. Liability coverage protects against damage to other vessels. For instance, if a windstorm causes your boat to collide with another vessel in the marina, liability insurance can cover the cost of repairs, such as scratched paint.
Bodily Injury
Boat owners are financially responsible for any injuries caused during an accident, including injuries to passengers. If a passenger sues you for medical expenses, it could lead to financial hardship if you don’t have adequate coverage. Ensuring your policy includes bodily injury coverage for you and your passengers can help protect you from these risks.
At T.D. McNeil Insurance Services, we understand the importance of having the right coverage without paying for unnecessary extras. Our agents can help you find a boat or watercraft insurance policy tailored to your needs. Contact us today to get started. We proudly serve the Folsom, CA area.
