There are many types of boats. From bass boats to yachts, you need to make sure you have yourself properly covered with the right type of insurance for these assets. And even if your boat isn’t worth a lot of money, having minimal coverage on it may be required by law. For now, let’s take a look at the different types of boats that you should consider having insurance on.
Small Jon Boat
A small Jon boat can often be purchased for only a few hundred dollars. And while you may not want to spend a lot of money each month on insurance for this type of boat, you need to consider the cost of not doing so. Take for example that your boat sinks in the lake and you have to pay to have it removed; this can cost thousands of dollars. With the right insurance coverage, though, you don’t have to worry about digging in your own pocket to pay for boat removal.
Bass boats are often fairly expensive. You are going to want to keep yours protected with insurance. If you are keeping your boat at a marina, there is a good chance that the marina owner will mandate that you keep insurance on your boat in case something were to happen to it while it is at the dock, such as another boat hits it that doesn’t have insurance coverage. Marina owners also want you to have coverage in case you run into the dock and mess up either the dock or your boat.
To learn more about the different types of boats that need insurance coverage, please contact the TCU Agency serving the Tuscaloosa, AL area.