Boats and watercraft of all sizes need to be insured with adequate coverage. If you operate your boat without the right insurance, you could be putting yourself, your boat, and your financial future at risk. Here at Gary Ellis Insurance, we help Madison area boaters find the coverage they need to protect against the unexpected. Before you take the jet skis up to Lake Koshkonong or go bass fishing on Lake Mendota, make sure your boat insurance has the power to keep your head above water.
There are many reasons to purchase boat insurance in Wisconsin:
- You may be required to purchase insurance if your boat is financed through a lender
- You may be required to purchase insurance if you dock your boat in a marina
- If you cause an accident, boat insurance can help cover your bodily injury and property damage liability
- Your home insurance probably does not cover a large boat, and it may only provide limited coverage for small non-motorized or low-horsepower watercraft
Imagine taking the family out on a pontoon cruise at sunset. You fail to see an unmarked stump sticking up from the water, and scrape up against the side of it. The damage to your boat will cost thousands to repair. Would you rather disburse the entire loss out of your own pocket, or pay a small deductible and let your boat insurance company cover the rest? Now imagine that the accident involved a swimmer instead of a stump. The swimmer suffers serious injuries and sues you for $100,000. Could you afford to pay the debt?
Boat Insurance Coverage
Most boat insurance policies include several types of coverage, including:
Boater’s Liability
Liability insurance includes coverage for bodily injuries and property damage you cause to another person as a result of ownership or operation of your boat. This includes damages and injuries if you hit another boat, dock, or someone swimming, tubing, or skiing.
Physical Damages
Your physical damages insurance can cover damages to your own boat under a collision or comprehensive claim. This includes damages or loss caused by a boating accident, theft, vandalism, and more.
Medical Payments
Medical payments insurance provides coverage for you and your passengers’ medical bills if you are injured in a boating accident, regardless of who is at-fault.
Uninsured/Underinsured Boater Protection
When you are injured by an uninsured boater or someone with insufficient boat liability insurance, this type of coverage can help pick up the slack for your medical expenses.
Special Equipment Coverage
If you carry expensive equipment on your boat such as fishing gear, skis, or expensive navigational equipment, you may need extra coverage to protect your belongings.
Towing and Emergency Assistance
Sometimes boats break down on the water. This type of insurance helps cover the cost of towing back to land or special assistance, such as fuel delivery.
Pollution and Salvage
If your boat sinks and causes an oil spill, you could be held responsible for the clean-up. Adding pollution and salvage coverage to your insurance can help cover your recovery and environmental clean-up expenses up to the limits on your policy.
Madison Boat Insurance Quotes
Here at Gary Ellis Insurance, we can help find coverage for a wide range of vessels, including:
- Pontoon boats
- Fishing boats
- Ski boats
- Catamarans
- Personal watercraft
- Sailboats
- And more
If you own a boat in the Madison, Wisconsin area, we want to help you find the coverage you need. As an independent agency, we can shop and compare rates from several of the state’s leading insurers, as well as find you money-saving discounts on the boat insurance you need. Contact our office today to request your free quote. We can’t wait to start saving you money on coverage.
