There are several types of coverage options available within boat insurance policies, each designed to address specific risks and needs. Here’s a breakdown of the most common coverage types you’ll come across:

• Bodily Injury Liability: If an accident occurs that you’re responsible for, this type of coverage takes care of medical expenses, lost wages, and even potential legal fees for individuals injured due to the incident. It’s essential for covering costs associated with injuries or fatalities resulting from accidents you cause.
• Property Damage Liability: This coverage handles the expenses related to any property damage your boat causes. That might mean damage to other boats in a collision, or even to docks, buildings, fences, or other structures that your boat might accidentally hit.
• Collision Coverage: Just like in car insurance, collision coverage is there to cover repairs or replacement costs if your boat is damaged in an accident with another boat or an object. Whether it’s a small scrape or a major crash, collision coverage helps cover repair bills to get you back on the water quickly.
• Comprehensive Coverage: Not all damages happen as a result of a collision. Comprehensive coverage steps in for non-collision incidents, such as theft, vandalism, fire, or weather-related damage. This type of coverage is perfect for safeguarding against unexpected events that could damage your boat.
• Medical Payments: Accidents on the water can lead to injuries for you, your family members, and any passengers onboard. Medical payments coverage takes care of medical bills, and in unfortunate cases, funeral expenses, regardless of who was at fault. Some policies even extend this coverage to situations where you might be hit by a boat as a pedestrian.