Boat/Watercraft Insurance in North Carolina
The state of North Carolina does not legally require you to purchase boat or watercraft insurance. However, it is in your best interest to do so and protect your assets. If you are purchasing a boat or watercraft, your lender will require you to have insurance and most marinas require the watercraft insurance if you are renting a mooring or a boat slip.
Doesn't My Homeowner's Policy Cover my Boat?
Your homeowner's insurance policy does cover a small portion of personal liability and medical payments if you own a boat. It will not cover anywhere near the amount of the total damages that are incurred in a boating accident, and the medical payments are only for injuries to others and not your family. This is the reason why getting a watercraft endorsement is so important to protect your assets and your family.
What Does Boat/Watercraft Insurance Cover in North Carolina?
When you purchase boat/watercraft insurance from Griffin Insurance Agency, you can rest assured that you have coverage for your boat and personal watercraft. This type of policy works similarly to your car insurance policy. It has liability coverage in the case of an accident where you are operating your boat, and it injures a person or damages property. The liability portion of the policy covers these types of accidents. You can also purchase insurance to cover your boat in the event that another boat collides with you, and they have no insurance, or they are underinsured. You can add coverage for all of your boating items such as skis, floats, anchors, motors, and expensive fishing equipment that you carry on the boat.
Boaters insurance will also cover the expenses for towing and wreckage removal on the water as well as fuel spills due to an accident. If a guest on your boat is injured, your policy will pay for their medical expenses and if you accidentally hit another vessel; it will pay for hospital expenses, loss of work and rehabilitation up to the limits of your policy.
We at Griffin Insurance Agency can help you to navigate the waters of boat/watercraft insurance to make sure that your assets are protected from a lawsuit and will guarantee you have the coverage you need. Call us or come by the office to discuss your insurance questions and to get a quote.