A boat or any type of watercraft such as a pontoon, yacht, fishing boat, or jet ski is a significant investment that can provide loads of fun and be full of adventure. Boat/watercraft insurance offers protection to your investment and your lifestyle on the water. Insurance for your boat/watercraft is necessary when you have used it as collateral for a bank loan. Harbors and individual marinas might also require that your boat/watercraft have insurance before it can dock at their facilities. Our agents at Midwest Insurance & Financial Services in Indiana understand the different types of plans that are suitable to your unique lifestyle.
Some of our coverage options include:
This coverage offers to pay for any property replacement and repairs to the property of a third party in the event you are involved in an accident in which you are responsible. It also covers the expenses arising from medical expenses.
Physical damage coverage
It helps to replace and repair your boat/watercraft if it is stolen or damaged.
Uninsured liability insurance
This helps pay for expenses arising from collisions with an uninsured boat/watercraft.
This helps pay for expenses arising from bodily harm caused by a boating accident to you or your passengers.
Besides covering damage arising from non-boating related damages, this coverage helps to pay for damage caused by other events such as fire and storms. It may also include coverage for towing charges in the event of a breakdown while at sea or on the water.
This type of coverage depends on the location of your boat or watercraft. Some insurance companies offer protection into the inland water, into coastal waters for a specified distance from the coastline, and into the coastal waters of other countries such as Canada or Mexico. An increase in the area of sea or water covered can also be purchased.
The type of plan you select will depend on the size, type, and age of your boat/watercraft. However, boat/watercraft insurance can be relatively inexpensive. Visit Midwest Insurance & Financial Services in Indiana to discuss a new policy with the agents, and it can also be tailor-made to suit your unique needs.