Originally Posted by fastarget
ok, this is what I was told the reasons for high premium vs cheap boat ins.
Liability, your current coverage is $500,000. This is in case someone on the boat is injured, pays for negligence on your part if something happens.
Medical expense is $5,000 .
Emergency Road Side Service and on water service, this covers towing your boat in and related costs.
Personal Effects, $5,000 coverage, such as cameras, fishing equipment such as tackle and tackle boxes, clothes, cell phones etc.
Watercraft equipment, $20,000 coverage, this covers the trailer, trolling motors, life jackets, oars, fish finders, anchors, items related to the boat itself.
Fuel or oil clean up, your policy has $10,000 per occurrence, $20,000 total, this will cover cleanup costs associated with damage to your boat, boat sinking or spilling these in the water and the parks service bills you for the cleanup.
Another important coverage is repair cost that is included on your policy. If something happens, we will pay for replacing that item, not depreciating.
Uninsured and underinsured watercraft, this is basically like underinsured and uninsured coverage on auto insurance. If you or anyone on your boat is injured by someone on another boat, this covers you and your passengers up to $500,000 for bodily injury. I know most boat insurance will not cover this.
So, who carries any of these coverages? or are most people unaware that they maybe underinsured?