Paul Burrage, Inc. --- Licata, Hayes & Co. --- Press, Bateman & Turner --- Independent Insurance Agents
Boat and Watercraft Insurance
Typical boat insurance policies cover physical loss or damage to the hull, machinery, fittings, furnishing and permanently attached equipment.
Liability: Boat insurance also typically covers the following:
Bodily injury and property damage liability
Guest passenger liability (legal expenses incurred by others using the boat with the owners permission)
Medical payments for injuries to the boat owner and other passengers.
Some policies also offer additional coverage for towing and emergency maintenance, personal property, fishing equipment, and damage caused by uninsured boaters.
Common forms for yachts exclude coverage for wear and tear, gradual deterioration, damage from marine life, manufacturer’s defects, and ice or freezing while the boat is moored or laid-up afloat.They also exclude coverage for operating the boat in an area different from the staged coverage territory.The policy’s lay-up warranty prohibits the insured from using the boat during those months without the insurer’s permission.Taking the boat out on a day when the insured has warranted the boat will be laid up will result in no coverage for any accident that occurs on that day and may result in policy cancellation.