The insurance approach for covering boats and boating property is quite like what is used to protect cars and homes. Essentially insurance is offered on a package basis, meaning that there is coverage for physical property as well as protection against the legal and financial consequences of injuring others or damaging property that belongs to others.<\/p>\n
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Property Coverage<\/strong>\u00a0– Typically a\u00a0boatowners\u00a0policy covers:<\/p>\n
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Boats – Refers to property designed to travel on water and includes sails, its permanent equipment, spars and fittings.<\/li>\n
Boating Equipment – Includes a wide variety of property that is used in conjunction with boats and it includes accessories. Items considered as equipment are property used for communication (radios), navigation, sonar, radar, outboard motors, dinghies, skis and sports equipment (recreational flotation devices) that are towed by boats and similar property. As a rule of thumb, the more related an item is to the ownership and use of a boat, the greater the justification to classify it as boating equipment.<\/li>\n
Boat Trailers – Trailers used (and designed) for transporting boats (as defined by the policy).<\/li>\n<\/ul>\n
This property must be owned by the person who is named as the policyholder. There are limited instances when such property that is temporarily in the policyholder\u2019s possession also qualifies for coverage.<\/p>\n
Items and situations that aren\u2019t covered include boating property that is used in business activity, losses that involve races or competitions (an exception is made for sailboats) and boats that are used, full-time, as residences.<\/p>\n
![\"Boat](\"https:\/\/www.insuringky.com\/blog\/wp-content\/uploads\/2018\/07\/boat-1-300x144.jpg\")
and homes. Essentially insurance is offered on a package basis, meaning that there is coverage for physical property as well as protection against the legal and financial consequences of injuring others or damaging property that belongs to others.<\/p>\n![\"Watercraft](\"https:\/\/www.insuringky.com\/blog\/wp-content\/uploads\/2018\/07\/boat-2.jpg\")
<\/p>\n![\"jet](\"https:\/\/www.insuringky.com\/blog\/wp-content\/uploads\/2018\/07\/boat-3-300x166.jpg\")
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