If you’re looking for San Diego boat insurance, our agency has you covered. Whether you’re cruising around in the San Diego Bay, or braving the Pacific, you need a comprehensive boat insurance policy to cover you in case something unfortunate happens.
There are a number of different boat insurance coverages we can tailor to your specific situation.
The following is a list of some important factors that can influence the type of boat insurance coverage that best suits your needs, as well as what the final price could be.
Personal and Commercial Use
It’s a simple idea, but identifying whether your watercraft is for personal or commercial use will help guide the insurance policy you require.
Is it a boat or a yacht?
For most cases, a boat is defined as a vessel that in 26′ or smaller while a yacht is classified as 27′ and larger. Policies vary between the two and clearly identifying what type of vessel you need coverage for will determine the specifics of your policy.
Boat Liability Insurance
Liability coverage helps protect you in the event you are responsible for property damage other than your own boat or bodily injury to someone other than a family member. The amount of liability coverage needed will depend on your specific situation.
Agreed Cash vs. Agreed Value
While most of the policies sold at Global Marine are Agreed Value policies, it’s important to know the difference between the two. Agreed value policies pay a predetermined agreed value of the watercraft when it’s involved in a loss, while covered losses in actual cash policies are subject to deprecation.
Blue water
Commonly referred to when determining the navigational territory of your vessel; refers to waters over five miles from land.
Brown water
Commonly referred to when determining the navigational territory of your vessel; refers to waters within five miles of the coast.
Date Restrictions
With some policies, your boat is only insured during specific dates of the year. This can potentially lower your insurance payments in months where you anticipate being unable to use your boat due to weather.
Lay-Up Period
The time during which you will not be using your boat. If you have a policy that includes a lay-up period, be aware of the dates. Using your vessel during lay-up means that you will not be covered by your insurance.
Navigational Limits
Your policy may outline specific limits to where you can use your boat and be covered. It is important to only operate your vessel within these limits and clarify with your agent exactly where you are covered. Some policies may only cover you within a certain distance from land; others may not cover you if you’re boating outside your home state. Be sure to talk with your underwriter so you understand exactly where your vessel will be insured.
Operators
People who will be operating the boat – often used to determine premium payment rates.
Common San Diego Boat Insurance Coverages
Bodily Injury Liability & Pollution Liability
Like auto insurance, personal liability coverage provides coverage to other boaters and boat owners in the event you are at-fault for an accident on the water. This coverage will pay to repair or replace the property of someone else as well as for their medical care, lost wages and other costs incurred as a result of a boating accident for which you are legally held responsible. It will also help pay for wreckage removal and fuel spill cleanup costs.
Medical Payments (MedPay)
Helps pay for expenses like hospital bills and medical care that you may be held responsible to pay if you cause an accident that injures someone else. Watercraft medical payments coverage is available from $500 to $10,000 and covers you, your passengers and even your water skiers and tubers, no matter who is at fault.
Physical Damage
Helps pays for the cost to repair or replace your watercraft, its motor, any permanently attached equipment, and your trailer, if it is stolen or damaged, up to the agreed value of your watercraft. Physical damage coverage also automatically includes coverage for unattached equipment, personal effects and emergency assistance. In some states, pet coverage is automatically included with physical damage coverage and additional fishing equipment is an option when at least one watercraft on your policy includes physical damage coverage.
Uninsured/Underinsured Watercraft Bodily Injury
If you are hit by an uninsured or underinsured boater, and you are injured, this coverage helps pay for medical treatment, lost wages and other costs associated with the accident.
24 hour dispatch if you’re stranded
Being stranded at sea can be scary and dangerous. Most policies offer some level of dispatch coverage should you need fuel, or a tow back to safety
This is not a complete list of insurance terminology, but a helpful reference for some of the more common terms you’ll encounter while shopping for boat insurance.
Prosper Insurance can explain your various options, and find the best policy from the best boat insurance company at the best possible price.
Call our office today, or click the button below to get started.
