Why You Need Boat Insurance for Your Boat

It is January and although the weather has been cold, yet, in a few weeks, it could be warm enough to go on the water with your yacht. However, before you hit the water, you should check how insured your watercraft is. Many people thought their homeowner’s insurance would cover their watercraft but the insurance may only cover up to $1000. So, like a vehicle, you should have insurance for your boat or ship.

A specialized policy will offer better terms and covers more than a homeowner’s insurance. In terms of liability, you will have a limited degree of coverage depending on the type of watercraft. It’s common for liability coverage of homeowner’s insurance to exclude your watercraft if it is in excess of 50 horsepower or if it is longer than 26 feet. So, if you have a nice yacht in the North Shore or Essex County, it is highly recommended to start shopping for a boat insurance.

Also, your personal boat dock may need additional insurance instead of just covered by your home insurance. Under many homeowner’s insurances, your dock will not be covered as a result of freezing, the weight of water/ice, pressure, and thawing, and these are just some of the common problems. So, you should inquire your insurance company as to any alternatives to cover your boat dock.

Contact John J. Walsh Insurance Today

Going out on the water with your yacht is a great leisure, but you should make sure you have enough insurance before getting too far out in the water. Contact us for boat insurance and home insurance in Salem, Rockport, Gloucester, Beverly, and other areas in Essex County and North Shore.

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