Boat/Watercraft Insurance

It’s wonderful to be able to go out on your boat and coast along the beautiful waters, but there’s a catch – you need insurance. Just like any moving vehicle, insurance is here to protect your motorboats, sailboats, or personal watercraft.

What does boat insurance cover?

Boat and watercraft insurance policies vary based on the amount of coverage needed. In most cases, the policy could cover certain parts of the boat, including the hull, any accessories and furnishings, machinery, fittings, and other factors. Every state has its regulations to follow. Your insurance agent will be able to give you all the options available to you at the best rates.

Boat insurance is somewhat different, as it has two different coverage options: cash value or agreed amount coverage. What’s the difference? Cash value coverage considers depreciation when using the policy for repairs, and the agreed amount coverage helps pay for any repairs needed based on the boat’s valuation per the coverage amount.

Other policy provisions may also include:

  • Liability
  • Medical payments
  • Uninsured watercraft coverage
  • Accessories add-ons

What is included in an accessories add-on?

Add-ons include boat trailers, accessories, special equipment, and towing coverage. The cost of each of these provisions is based on coverage limits, deductibles, size of the boat, how the boat is used, and where it is stored.

Working with our team

Our team at OakPoint Insurance is ready to help get you to sail the deep blue sea! Things happen on the water quite often, and ensuring you have the right coverage in place will protect you, your investment, and anyone else traveling on your boat. Safety is paramount. For more information on how we can help you find reliable coverage for your watercraft, contact an associate at OakPoint Insurance today!

While our offices are located in Maryland, we serve all across the following states: Maryland, Texas, Virginia, DC, Pennsylvania, North Carolina, and Ohio.