If you’re a boat owner in Oak Ridge, NC it’s important to have boat insurance. But what kind of policy should you get? There are several different types of boat insurance, each offering different protection. Consult with Oak Ridge Insurance Services for expert insurance advice.
Here are the different types of boat insurance that you can choose from:
1. Liability Insurance
Liability insurance is the most common type of boat insurance. It protects you from financial damages if you’re held responsible for an accident.
For example, let’s say you’re out on your boat and accidentally collide with another vessel. If the other boat sustains damage or someone is injured, liability insurance will help pay for the repairs or medical bills. Liability insurance also covers you if you damage someone else’s property with your boat.
2. Collision and Comprehensive Insurance
Collision and comprehensive insurance is similar to the coverage you have on your car. It covers damage to your boat caused by things like accidents, storms, fire, theft, or vandalism.
Comprehensive insurance also covers you if your boat is damaged while in storage. This type of coverage is not required by law, but it’s a good idea if you want to protect your investment.
3. Uninsured and Underinsured Motorist Coverage
This coverage protects you when you get into an accident with a driver who lacks sufficient insurance to cover the damages. For example, let’s say you’re in a boat accident that wasn’t your fault, but the other driver only has liability insurance. If the damage to your boat exceeds the other driver’s policy limit, you could be stuck with a huge bill. However, if you have this coverage from Oak Ridge Insurance Services, your insurance will help pay for the damages.
Give Us A Call
There are several different types of boat insurance, each offering different protection. Be sure to talk to your Oak Ridge Insurance Services agent in Oak Ridge, NC about which type of policy is right for you.