Just as it would be too risky to drive on the highway without automobile insurance, you wouldn’t want to get out on the water without watercraft owners insurance protecting you from the various risks involved with operating a boat or other recreational watercraft.
One of the common mistakes people make is thinking their home insurance policy is all they need when the watercraft is parked at home and not in use. The reality is that home insurance policies provide very limited coverage for watercrafts, and since the deductible most people opt for takes up all or most of this amount, filing a claim isn’t worth it. Another thing to note is that while a homeowner’s policy might cover a boating accident, there are several limitations involved, so having a separate watercraft owners insurance policy is advisable.
With a watercraft owners insurance policy, your boat can be insured for the value of the boat, not just the standard limit provided on a home insurance policy. You can also add on specialty coverages for special equipment and accessories.
If you would like to know more about watercraft owners insurance, give us a call at St. Clair Insurance Brokers, Inc. We were founded in 1891 to serve the insurance needs in Windsor, Chatham, and Southern Ontario. Our brokers live and work in the area so they understand the needs of our customers — like you, they want to have the best insurance coverage possible to mitigate liabilities that can befall anyone. Contact us today to learn more about the vehicle, home, personal, and business insurance policies we can assist you with.