Nothing beats the feeling that comes with using your hard-earned savings on savory things like a boat. For a water enthusiast, a watercraft can be a special vessel in Raleigh, NC, where there are lots of fun things to do for boaters. However, with the fun comes unfathomed risks that can quickly wipe out your savings; that is why you need boat insurance.
While it is not a requirement in North Carolina, boat insurance is a vital policy that every boater should have. Young Insurance Associates Inc can help you find a plan that will protect your boat.
Why is boat insurance important?
Even if it is not a requirement, boat insurance gives you the assurance that your vessel is well protected and safe throughout the year. Sometimes accidents are inevitable, especially in Raleigh NC, but with boat insurance, you are sure to get compensation in case your boat is stolen or damaged. Most boat insurance policies cover physical damage, medical payments, and liability.
Boat insurance provides coverage for the following:
- Physical damage: This coverage protects your boat against physical damage caused by windstorms, lightning, fire, or vandalism. The insurance company will typically pay for the repairs or replacements. However, your personal effects not related to the boat may not be covered, but you can buy premium coverage for that.
- Medical payments: This coverage pays for medical bills up to the covered limits in case you are injured or another person in your boat. It also pays funeral expenses.
- Liability: Your liability coverage compensates for property damage or bodily injury. It also covers lawsuits in case you are sued.
While these coverages are the most critical, you are eligible to buy additional coverages based on your budget, style, and preference. You can purchase coverages such as emergency towing, spare parts, and other plans that fit your needs.
Feel free to contact Young Insurance Associates Inc for more information on boat insurance.