Getting out on the water in your boat is likely one of your favourite places to be. But owning a boat can increase your liability risks (even when you’re on dry land.)
Let’s make sure your “financial boat” doesn’t sink should you hit any unforeseen crosswinds or rough water.
Doesn’t homeowner’s insurance cover my boat?
…maybe, if it’s a rowboat or has a very small engine.
The fact is, homeowner’s policies usually place numerous restrictions on boat owners depending on the size, horsepower, and type of the vessel. The coverage is also very limited — sometimes as low as $2,500 for physical damage! Great for a kayak, not so much for your motor or sail boat.
So if you don’t carry a specific boat insurance policy, you are probably underinsured, which can make for troubled waters if you lose control of your craft, sustain damage or sink, or a guest causes an accident.
What boat insurance covers—and what’s optional…
The most important thing we cover are the things that are important to you. Typical coverages should include:
Hull & Machinery (your boat itself!)
Outboard Motor or Kicker Motor
Boat Trailer physical damage
Medical and physical damage perils
And we provide insurance for the following types of boats and personal watercraft:
The NEsika Insurance Services Difference
You may think you want the cheapest insurance you can find, but realise you may not be getting everything you bargained for.
While most insurance products are similar in price and function, insurance providers are very different when it comes to structuring a policy that actually covers you. So if you’re at all concerned for your financial well being, you should investigate what you are offered carefully, and consider a relationship with a reliable guide.
There’s no such thing as a one-size-fits-all insurance policy.
We always look for ways to protect you better, including carefully choosing the insurance companies we represent to be both affordable and responsive.