What You Need to Know About Boat Insurance Before Hitting the Water

Boat ownership can be a great way to add some adventure and fun into your life. Making sure that your boat is properly insured will help the fun last even longer. Here at Hart Insurance, we want to make sure that you understand boating insurance and how it applies to you in Federal Way, WA and surrounding areas. Here are a few things you should keep in mind when considering boat insurance. 

Your Homeowner’s Policy Isn’t Enough

Many boat owners are under the impression that their homeowner’s insurance will cover their boat. This is often not the case. Homeowner’s insurance will cover a boat that is housed on your property, but usually, this is only for small boats with no engine or very small engines. Larger, more expensive boats most definitely need their own policy. 

How Is Boat Insurance Different?

Boat insurance is different from home and auto insurance in a few ways and similar in many ways. The similarities lie in the fact that boat insurance will cover liability in case someone is injured on your boat, and it will provide comprehensive coverage in the event that the boat is damaged or stolen. One nice difference in boat insurance, though, is that you have the option of deferring coverage for time periods in which the boat is not being used. This is very handy and can save you money since most people only use their boats some of the time. 

You should keep in mind that some policies cite that when the boat is out of the water it is no longer covered under the boat insurance policy. If the boat is attached to your car it might be covered under your car insurance. If it is housed at your home, it would be covered, to some degree, under your homeowner’s policy. Be sure to discuss these details in depth with a trained insurance specialist at Hart Insurance now serving Federal Way, WA and surrounding areas.