Summer is almost here and that means it’s time to take your speedboat out on the water and have some fun. Water-skiing, tubing and just cruising the lake are some of the best ways to spend the summer.
It’s a LOT of fun, but can also be a dangerous past time. Make sure you, your loved ones and your boat are protected with the right speedboat insurance.
Here are 4 types of speed boat insurance you need before hitting the water this summer:
- Property Damage Liability Coverage: No matter much experience you have with operating a speedboat, there is always a chance you could have an accident and collide with another boat, dock or other structure. Property damage liability insurance covers you in case that actually happens.
- Bodily Injury Liability Coverage: Bodily injury liability coverage protects you in case you injure another person while operating your speed boat. You are covered whether that person is a passenger on your boat, on someone else’s boat, or on land. Power boat liability insurance will cover legal costs in the event that an injured party files a lawsuit.
- Collision Coverage: Collision insurance covers your boat and trailer if an accident damages your boat. For example, if you collide with a submerged rock, you may have a large expense on your hands to in order to get your boat back in working order.
- Comprehensive Coverage: Comprehensive coverage protects your boat when damages from accidents other than “collision” affect your speed boat. For example if your boat is a target of vandalism, is damaged in a fire or a severe storm.
There are many types of boating insurance policies out there, check with your agent to make sure you are purchasing the policies that make sense for you and your boating needs.
Owning and operating a speedboat is a great, exhilarating experience and creates a lot of great memories, but speed boats come with a great risk of damages and accidents – prepare yourself by practicing safe boating techniques and having the right coverage.
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