The excitement and relaxation one is looking for on the water in their boat can be ruined by not having the right boat insurance coverages. The excitement of reeling in that big fish could be replaced by the frantic stress of trying to rescue one's fishing equipment when "the big one" pulls a little harder than the fisherman. The relaxing day could be replaced with anger when the one relaxing is jolted awake by a nearby uninsured boater crashing into them.
Out on the water incidences such as these can happen to anyone but the boaters that have the right boat insurance coverage are able to get off the water and get their equipment back or their boat fixed quickly without any additional unneeded stress. But, unfortunately, boaters that choose just the basic boat coverage policy may not have protection for incidences such as these since these coverages may be considered optional, which means the boat owner would have needed to add them in addition to their boat insurance policy.
Most basic boat insurance policies have good broad coverage that should cover the most common incidents that could happen out on the water. But for those boaters who want to have complete and comprehensive coverage to try and cover practically everything that could happen out on the water, they need to add additional boat insurance optional coverages.
Boat insurance optional coverages can be different depending on the insurance company. Boat owners need to make sure they understand what boat insurance coverages they have with their boat insurance policies and what optional coverages are available. The best way for a boat owner to do this is to simply contact their insurance agent or insurance company and ask them what coverages they have on their boat insurance policy and what other optional coverages are available.
Here is a list of the most common optional boat insurance coverages. Although these are optional, most boat owners should consider adding these coverages. The cost of these additional optional boat insurance coverages is usually minimal and can save a boat owner a huge amount of stress and time if they should have an incident that would fall under one of the below optional boat insurance coverages.
The Most Common Optional Boat Insurance Coverages
Personal Property: Cell phones, cameras and even personal flotation devices are often considered personal property on a boat. If a boat owner wants coverage for any of these items and other personal property they will want to consider adding additional personal property coverage to their boat insurance policy. Some boat insurance policies will offer a minimal amount of coverage for personal property but if a boat owner wants most or all of their personal property on their boat covered, they will want to review their boat insurance policy and decide if whatever coverage they have is enough personal property coverage for their needs.
Fishing Equipment: All boaters know that fishing equipment is expensive and personal. To make sure one’s fishing equipment is covered adequately a boat owner will want to add fishing equipment coverage. There is usually a minimal deductible but this optional coverage is a must have for any boater who carries expensive fishing equipment along on their boat.
Uninsured boater: Getting hit by a boater carries enough problems but the problems get even worse when the offending boater does not carry insurance. Making sure one has uninsured boater coverage will cover expenses incurred by a boater that did not have insurance. Some boat insurance policies include this coverage and some do not so again, a boater will want to check with their boat insurance policy to see if they need to add this important optional coverage.
Replacement Cost Coverage: This coverage will give a boat owner the full replacement value of their boat if their boat becomes a covered total loss under their boat insurance policy. The usual time period to recover the full replacement cost amount is three years.
