Boat Insurance: Do I need it?
While boat insurance is not a requirement in Newmarket, NH, it doesn’t mean you are safe without it. Boat insurance is a critical financial tool that protects you from lawsuits that could quickly leave you broke. Even if you only use your boat once in a while, it is essential to think about insurance, especially with regard to liability. At Keslar Insurance Agency, we recommend buying adequate insurance to cover you and your passengers.
It could be a requirement.
If you bought your boat through a bank loan, the chances are that your bank will require you to purchase boat insurance to help protect the watercraft while it is in your hands. The bank is the lienholder on that policy and will be the co-payee in case of loss or damage. Marinas also require a form of coverage before accepting a contract for mooring or slip.
It offers a wide range of coverages.
Most boat insurance policies offer almost similar coverages, like auto insurance. You and your boat are protected from a wide array of perils that may result while you are in the water. If you spend most of your time in the water, you may want to have enough liability coverage. Find an option that can provide you with some additional coverages like emergency services, fishing equipment protection, and other premium services.
Litigation and investment protection
How much would it cost you to replace your boat if it was stolen or damaged? Would you be able to replace it immediately? Probably not. That is why you need boat insurance to protect it. Without adequate protection, you risk losing your investment to various accidents or any other event that could lead to damage or loss of your watercraft. Lawsuits are also common in Newmarket, NH. You can get sued anytime for just about anything. Boat insurance helps you stay protected.
For more information, queries, quotes, or new policy discussions, feel free to speak to any of our Keslar Insurance Agency today!