North Carolina offers residents and visitors a diverse landscape that includes calm rivers, serene lakes, and mountain views as you cruise by. For those who own their boat/watercraft, the option to not have insurance is tempting. The question becomes, why incur the expense if the state doesn’t require it? If you are debating whether to buy insurance for your boat/watercraft, contact us at Oak Ridge Insurance and let us explain the reasons it is in your best interest to have it insured.
Exceptions for Not Having Boat Insurance
If you are buying or leasing a boat, chances are the lender will require insurance to protect their investment. If you plan to rent a boat, some companies will have in their rental agreement the requirement to have insurance.
Why Boat Insurance Is Recommended
Keep in mind, a day on the water means sharing the waterways with other Oak Ridge, NC, boaters, who may not have insurance. An unexpected situation can result in an accident, bodily harm, or property damage. With boat insurance coverage, you have several benefits. These include:
- Liability: If you are responsible for property damage or bodily injury to someone while boating, the policy takes care of the medical bills, damage to the other person’s property, and legal fees.
- Financial coverage: Your policy covers the cost of the replacement or repairs if your boat is vandalized, stolen, or damaged due to a collision.
- Docking: With an insurance policy, you will have proof of coverage when you dock your watercraft at a marina that requires boats.watercraft to be insured.
Contact Us
Our independent agents at Oak Ridge Insurance Services can ensure your boating experiences are enjoyable and stress-free with a policy to suit your needs.
