Boat Insurance To Protect You & Your Rig!

Boat ownership is an exciting endeavor, but it’s important to remember that boats come with unique risks. Whether you’re cruising around the lake in a paddle boat or exploring the open ocean in a power boat, you need to ensure you’re properly protected in case of an accident. That’s where Boat Insurance comes in. Boat insurance helps to safeguard your investment and gives you peace of mind while you’re on the water.

The Peak Agency offers comprehensive boat insurance plans designed to meet your specific needs. So whether you’re a first-time boat owner or a seasoned captain, we can help you find the right coverage to protect you and your boat.

Why Do You Need A Boat Insurance?

One of the key financial risks involved with owning a boat is not having boat insurance.

Boat insurance is a financial safety net that protects you from injuries or damage you cause to others while boating. It can also cover your watercraft and trailer if stolen or damaged. Not having boat insurance can leave you vulnerable to financial ruin if you’re involved in an accident on the water. As such, it’s essential to make sure you have adequate boat insurance coverage before setting sail. Another potential financial risk associated with boat ownership is the cost of repairs and maintenance. Boats require regular upkeep and can be expensive to repair if they’re damaged.

As a boat owner, it’s important to know the potential costs of keeping your vessel in good condition. By understanding the financial risks involved with boat ownership, you can help ensure that your experience on the water is safe and enjoyable.

How Much Does Boat Insurance Costs?

There are a lot of factors that go into boat insurance rates.

The type of boat, length, and number of engines play a role. Horsepower is another factor and also how you intend to use the boat. If you want to use it for recreation, chartering it out commercially, or racing, that will all be considered. Another thing that boat insurance companies consider is where and how you store your boat when it’s not in use.

These factors, plus the owner’s experience and claims history, will be considered when calculating boat insurance rates.

What Are The Types Of Boat Insurance Coverages?

When insuring your boat, it’s important to understand the different types of coverage available and how they can protect you from risks.

• Personal property & unattached equipment coverage protects the belongings on your boat, such as fishing gear or life jackets, in case of theft or damage.
• Property damage liability covers repair or replacement costs if you damage someone else’s property with your boat.
• Physical damage coverage pays for repairs to your boat if it’s damaged in an accident.
• Hurricane haul-out coverage helps pay for expenses related to moving your boat out of the water in preparation for a storm.
• Pollution/fuel spill liability coverage protects you in case you accidentally spill fuel or cause other environmental pollution.
• Uninsured/underinsured boater coverage kicks in if you’re hit by another boat operator who doesn’t have insurance or doesn’t have enough insurance to cover the damages.
• Towing and assistance coverage helps pay for expenses related to towing your boat or providing roadside assistance if you break down.
• Agreed Value and Actual Cash Value. Agreed Value coverage protects your boat for its total value, regardless of age or condition. Actual Cash Value coverage, on the other hand, typically only pays out up to the boat’s depreciated value.
• Umbrella / Excess Liability coverage is designed to protect you from costly lawsuits and can often be added to an existing boat insurance policy for a reasonable price.
• Recovery and Salvage coverage helps to cover the cost of recovering your boat if it’s lost or stolen and can also help to cover the cost of repairs if your boat is damaged beyond repair.

Choosing the right boat insurance policy is important, but with so many options available, it can be difficult to know where to start. Fortunately, our team of experts is here to help guide you and answer any of your questions.

Get A FREE Quote For Your Boat Insurance Today!

Whether fishing, swimming or cruising around, there’s nothing quite like being out on the open water. Spending time out on the water is a great way to relax and enjoy the company of friends and family. Of course, before you head out, it’s important to ensure that you have the proper boat insurance coverage.

The Peak Agency can help you find the right policy for your needs, so you can rest assured that you’re protected in case of any eventuality. We’ll work with you to find a policy that covers your boat, equipment, and liability, so you can focus on having fun. Contact us today at (405) 332 – 5568 to get started.

Why Choose The Peak Agency For Your Boat Insurance?

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