When you purchase a sailboat, its a given that you need insurance to protect your investment. Boat insurance is a legal requirement, but not all types of policies provide equal coverage.
Standard boat insurance will cover the basics for any vessel, whether you own a yacht or a speed boat. However, in order to ensure your craft is safeguarded against hazards unique to sailing, you might pay extra for add-ons with a general boat insurance policy.
Find the Coverage You Need
When you take your sailing vessel out on the water, there is an inherent risk for accidents and incidents that cause damage to your boat or someone elses property or injury to you, your passengers or others. With a sailboat, the threats you face are different than owners of another type of vessel.
If damage occurs to the boats boom or mast, for instance, you want to be sure those parts are covered in your policy. According to experts in the industry, basic sailboat insurance coverage should include:
- Hull and machinery protection that covers all parts of the vessel
- Liability protection for both yourself and the guests on your boat, as well as third-party coverage
- Personal effects protection for your belongings, including water equipment stored on the boat
- Uninsured boater protection to cover damages caused by an uninsured third party
When you hit the wide-open waters, you want to be sure youre covered for the risks you incur. Purchasing insurance designed specifically for sailboats gives you the peace of mind to enjoy the freedom sailing provides.