When planning a day out on the water with your boat, the last thing you expect is an accident. Unfortunately, things do happen and accidents can lead to extensive damage to someone else’s property that you will have to pay for out of pocket. Worse, you could hurt someone and have to cover their medical bills. Luckily, watercraft liability insurance can pick up the costs for you.
What is Covered by Watercraft Liability Insurance?
Watercraft liability insurance can provide a wide net of coverage that protects you from a variety of things. It can be broken down into two types of coverage.
Watercraft Bodily Injury Liability Coverage
This type of liability insurance applies in situations where you injure someone else with your watercraft. If you get in an accident and severely injure someone else, you are responsible for their medical bills and they can be extremely costly.
Watercraft Property Damage Liability Coverage
Property damage liability coverage can pick up the costs in situations where you cause damage to someone else’s property. It applies to damage caused by collisions/accidents and also to cleanup costs if you leave wreckage or spilled fuel.
Taking a boat out on the water can be a blast but it is not a risk-free activity. Having the right liability coverage can save you a lot of trouble!