Is Boat Insurance A Necessity?

Owning a boat in Fontana, CA is a dream come true for many residents. However, this ownership of a worthy investment comes with unique risks. Therefore, it’s vital to ensure that your prized possession is protected with prolific boat insurance from Rock Hard Insurance Agency serving Fontana, CA and its environs. If you don’t have splendid boat insurance, it’s the opportune moment to consider whether you are a seasoned boater or a new boat owner.

Is boat insurance mandatory in California?

Unlike car insurance, boat insurance isn’t legally required in California. Nevertheless, if you need to register your vessel with the state, you must have boat insurance. Additionally, if you financed the purchase of your watercraft, your lender might require you to carry boat insurance until you pay your outstanding loan. Therefore, acquiring boat insurance is an absolute necessity because it harbors the following benefits:

Covers property damage: Property damage by your boat can turn out to be exorbitant. Boat insurance can provide coverage for this type of damage, shielding you from having to finance these hefty bills cashwise.

Protect your boat: Your boat is an expensive asset that warrants outstanding security. Getting proper boat insurance will ensure that your prized asset gets protected from impending calamities both inside and out of the water. In addition, good boat coverage will cater to the repair or replacement of your boat if it is damaged or stolen.

Liability protection: Even seasoned boaters in Fontana, CA, have a bad day in the water. One single storm can propagate extensive damage to your boat culminating in massive loss. Getting magnificent boat insurance can accord you perfect liability protection. Luckily, to mitigate this probable risk, you should have boat insurance, as it will kick in and provide liability protection against lawsuits and medical expenses that can cripple you financially.

Protect yourself: If you inflict injuries to a passenger, swimmer or cause damage to another watercraft while utilizing yours, you will be responsible for their physical injury and medical bills. However, boat insurance will cover such costs, and you won’t be personally liable for them.

Are you ready to get started with boat insurance in Fontana, CA? Please call or visit us at Rock Hard Insurance Agency for an affordable and personalized boat insurance quote.

An Introduction to Boat Insurance

Your boat needs insurance just like your car does. While your homeowner’s policy provides a little protection for your boat, it does not cover everything that could happen to it.

While you enjoy the waterways of California, Rock Hard Insurance Agency, serving Fontana, CA, wants you to understand how boat insurance protects your watercraft investment and why you need a policy.

Boat insurance provides property damage protection.

Your boat could sustain damage on or off the water, and boat insurance protects it in every situation – while on the water, in transit, in dry-dock, or the marina.

The same policy also provides liability coverage, which pays for the medical bills of any individuals who sustain an injury due to negligence or fault. It also pays for any court settlement arising out of an accident. It also pays for the medical bills of an individual who incurs injury while operating the boat.

Like an auto policy, a boat policy contains four main components – liability, collision, comprehensive, and property damage insurance. The collision policy provides coverage for accidents on the road or the water.

Most states do not require you to insure your boat with boat insurance. Home insurance policies provide a tiny amount of liability coverage. Typically, the liability coverage equals ten to twenty percent of the home value. If your home value is $150,000 and your home policy provides ten percent coverage, you have $15,000 of liability coverage. The average hospital stay costs $15,000. For added liability coverage alone, the boat policy is worth it.

The boat policy also provides significant property damage coverage. The average boat policy uses an agreed-upon value or a depreciated value. You need to discuss the two options with your insurance agent and determine which method works better for your financial situation.

Contact Rock Hard Insurance Agency, serving Fontana, CA, to learn more about how boat insurance protects you, your boat, and your other watercraft. Call us today to start protecting your finances.