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All You Ever Wanted to Know About Insurance

Top 3 Reasons for Full Boating Insurance Coverage

It’s been another great summer to be out on the water. As a boat owner, you’ve enjoyed every day you could get out there-- and the season’s not over yet. We still have a few more warm days ahead of us. 

But are you fully protected? Knowledge goes a long way toward completely answering that question. There are many reasons to make sure you’re fully covered by your boat insurance, some you may not have considered. We’ve listed the top three major reasons here:


Other Boaters


It’s an unavoidable fact for boaters: there are lots of boats out there and waterways can get crowded. This congestion increases the chances of a collision, even for the most conscientious boater. 

You’re a responsible boat owner, one who makes sure their boating insurance coverage is complete and up-to-date. Unfortunately, that doesn’t go for everyone on the water. Furthermore, some states don’t require boating insurance. What if you get hit by someone who isn’t adequately insured -- who takes care of medical and other associated expenses typically covered by the other boater’s liability insurance? 

Full coverage typically contains Uninsured/Underinsured Watercraft Bodily Injury, which protects you in the event of an accident. This coverage pays for medical treatment for you and your family along with other associated costs stemming from the accident.


Inadequate Coverage for Damages


You know what they say: accidents happen. Even as careful as you are you can’t always avoid mishaps on the water. But, in the event of an accident, will you get enough to restore or replace your boat?

Many boating insurance policies offer what’s called “Actual Cash Value.” This coverage decreases based on the depreciation on your boat and may make it difficult or impossible to fully repair or replace your boat. Agreed Value Coverage, provided by full coverage policies, ensures that in the event of an accident your boat is insured for the initial amount agreed upon. This amount does not decrease based on depreciation.


Unexpected Fallout from an Accident


In the event of a collision, you may feel secure that you’re covered for damage and bodily injury to yourself and other boaters, but what about the incidentals you may not have considered?

When your boat is physically damaged in a serious collision, it can often leak fuel. You, as the boat owner, are responsible for cleaning up the fuel or oil that leaks from your boat, which can be expensive. You are also responsible for cleaning up the wreckage stemming from the accident.

Fuel Spill Liability and Wreckage Removal coverage ensures you’re protected against these expenses. 

Another unfortunate aspect of an accident: you’ll likely lose more than just your boat. There are personal items to consider. You may lose the jacket you stowed under the seat cushion, the cell phone that’s in the jacket pocket, and the watch that’s in the other pocket. Without full coverage, you may not be able to recover the value of these items.

You can also lose equipment that’s not attached to your boat. This equipment can be expensive and hard to replace; it includes items like waterskis, life jackets, and fire extinguishers. You should consider boating insurance coverage for this sort of loss.

The Personal Effects and Unattached Equipment coverages make sure you’re covered in the event of these sorts of losses.


Full Coverage Boat Insurance from Pepper, Johnstone & Company


Being fully covered provides peace of mind. Pepper, Johnstone & Company offers full boat coverage policies that can set your mind at ease so you can enjoy the water without worry. It’s important to remember, though, that not all coverages are available in all states, so contact Pepper, Johnstone & Company to discuss your options for full coverage.


Your Boating Insurance Experts


Pepper, Johnstone & Company know boating insurance, and we know how to make sure you’re fully insured and can relax, which is what boating’s all about. Contact our office in Athens, Alabama to discuss your coverage and how a comprehensive boat insurance policy can help you enjoy your time in your boat.