The Ins & Outs of Boat Insurance

When you buy a new boat, you have many things you’ll need to think about as a responsible boat owner. One aspect you may be worried about is insuring your new purchase. Your boat is valuable, so it’s important to get a good policy that will keep you protected. Here’s what you need to know about boat insurance to get you started.

So, What’s Boat Insurance?

Just like any other big-ticket purchase, such as cars or RVs or motorcycles, boats can be insured. A boat insurance policy helps to protect you from heavy repair costs in the event of an accident or other event that damages your boat. Coverage will vary widely depending on the policy you have, as well as the boat you own.

Why Do I Need Insurance?

Without insurance, you won’t be protected in the event of damage to your boat, including theft, bad weather, vandalism, or an accident. You would then be on the hook for any associated costs, including the cost of damage to other boats or injuries to your passengers. If that’s not bad enough, you may be flouting the law, as many jurisdictions require you to have boat insurance.

How Do I Get Boat Insurance? 

If you already have a car or other item under insurance, then you can talk to your insurance provider to see whether they offer boat insurance. They may be able to do some kind of bundle or deal on the different types of insurance you have with them to save you money. 

Some policies only protect your boat, while others can protect any property you might damage in an accident. Certain policies also may offer to cover medical costs. The more comprehensive the coverage, the more it tends to cost, but it also protects you better.

Stop by our location in Ketchum, OK, to view our selection of new and used boats for sale. Arrowhead Yacht Club & Marina proudly serves all of our Oklahoma customers.