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Boat insurance is not a requirement under the state law in Maryland, but there are circumstances in which you may be required to obtain a boat insurance policy. The agents at Ashley Insurance in Easton, MD know and understand the importance of boat insurance and the available coverage options.
If your boat has been used as collateral for a loan or you owe a loan for the boat’s purchase, you will be required by the lender to obtain a boat insurance policy. You may also be required to have a boat insurance policy if the marina where you have your boat docked requires it. Whether you are required to have boat insurance or not, you have invested in your boat and will want to ensure it is protected. There are several coverage options available for your boat insurance policy.
Liability Boat Insurance
If an accident occurs involving your boat, liability insurance will cover injuries sustained by anyone involved in the crash, including passengers on your boat, if it is deemed to be your fault. Liability insurance also covers any property damage that occurs during an accident.
Comprehensive Insurance
Comprehensive coverage is designed to repair or replace your boat if it becomes damaged or destroyed by a natural disaster, such as a hurricane, or a fire or vandalism incident. If your boat or watercraft is stolen, this part of your policy will help you purchase another boat.
Collision Insurance
Collision coverage will help you pay for any damages to your boat or other watercraft if you collide with another boat or an object. For instance, if you hit the dock as you are attempting to park your boat, the collision part of your policy will pay to repair your boat as well as the dock if it is damaged.
To get your boat insurance policy started today and protect your investment, contact Ashley Insurance agents in Easton, MD to schedule an appointment or to receive a quote.
