What Is Watercraft Insurance?
The umbrella term “watercraft insurance” refers to three distinct types of insurance: yacht insurance, personal watercraft insurance, and boat insurance.
It shields vessels powered by motors with a horsepower of at least 25 miles per hour (mph) from damage. Physical loss or damage to the boat, theft of the boat, and towing are all costs that are covered by watercraft insurance policies.
The three types of insurance that are included under the umbrella term “watercraft insurance” are: yacht insurance, personal watercraft insurance, and boat insurance.
The size of your vessel determines the kind of insurance coverage you need.
In many states, watercraft insurance is not required, but many boat owners opt to buy it anyway.
Boat owners are frequently required to have watercraft insurance by boat loan providers and marinas.
