Does North Carolina boat owner’s insurance work like home insurance? Does it cover the items on the boat as well?

If you own a boat in Burlington, North Carolina, you will likely need to purchase additional boat owner’s insurance. Many people falsely believe that their home owner’s insurance covers their boat. However, unless your boat is very small and lacks a motor, you will need a separate boat owner’s plan to protect your watercraft.

How Boat Owner’s Insurance Works

Boat owner’s insurance is similar to auto insurance, but it also has some similarity to a home insurance policy. Boat owner’s insurance consists of liability coverage that goes into effect if you are in an accident. Much like auto liability coverage, boat owner’s liability policies cover the medical expenses and potential legal expenses that one can face in the aftermath of an accident.

Another feature of boat owner’s coverage is that you can opt to suspend your coverage when the boat is not in use. This prevents you from paying hefty premiums during those winter months when you are least likely to go boating.

What Boat Owner’s Insurance Covers

Like homeowner’s insurance, boat owner’s insurance will generally cover physical damage to the boat that includes any equipment that is attached to the boat. However, unlike homeowner’s insurance, boat owner’s policies typically exclude personal items, such as scuba gear, stereo systems, or electronic devices. Be sure to thoroughly review your policy to determine what is and is not covered. Also, you will need to purchase additional comprehensive insurance to protect your boat and boat accessories against theft or vandalism.

How an Independent Agent Can Help

Insurance companies vary in the items that they will cover. If you want to receive the best coverage for the items on your boat, it is important to shop around and closely compare the policies of different insurance providers. Call us today to speak with an independent agent who can help you receive thorough coverage on your boat.