Now that summer is here, many Connecticut residents are going to be taking their boats out on lakes and rivers to enjoy the beautiful weather. If you own a boat or yacht, you are not legally required to have it insured, but it is a good idea.
In some cases, you may be required to have your boat or yacht insured, even though state law does not require it. If you are using your boat as collateral for a loan, the bank may require you to insure it. You may also be required to carry insurance if you dock your boat or yacht in certain harbors or marinas. Ask officials at the location where you want to dock your boat if they require insurance.
Many people choose not to insure their boats or yachts because they mistakenly assume that their homeowners insurance will provide coverage if the vessel is damaged or if the operator causes an accident. Homeowners insurance provides coverage for small boats on your property in some cases, but it usually does not cover large items that have their own type of insurance policy available. If you own a boat or yacht, you need to cover it with boat insurance, not rely on your homeowners policy.
A boat or yacht insurance policy can be customized for your specific needs. It can include a combination of coverage for liability, boat coverage, uninsured boaters, and medical coverage.
Liability coverage will pay for costs if you are found at fault in an accident. It will cover costs for bodily injury and property damage.
Several types of boat insurance coverage are available. Collision will pay for repairs if your boat is damaged in a collision. Comprehensive will help if it is damaged in a non-collision incident, such as a fire. On-water towing coverage is also available in case your boat breaks down when you are out on the water.
Since boat coverage is optional, if you get involved in an accident with someone who does not have insurance, you will need uninsured boat coverage. This will cover damage and bodily injury caused by an uninsured boater.
Boat insurance medical coverage can pay for injuries you suffer in a boating accident. This may not be necessary if you have adequate medical insurance.
Petruzelo Insurance offers insurance coverage for boats, yachts, and other personal watercraft. If you own a boat, you should have it insured, even though it is not required by law. Boat or yacht insurance can give you peace of mind knowing that you will be covered if your vessel is damaged or someone is injured in an accident. Contact Petruzelo Insurance today to get a quote for a boat insurance policy.
For more information on boat insurance in Connecticut, call: 1-866-479-3327
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