Boat and Motorcycle Insurance

Boat Insurance

Although boat insurance is not required in any state, it’s a smart idea to protect your investment against storms, accidents, passenger injuries, rough seas, hypothermia, etc. The next question is how much insurance and what type of insurance you need or would like to have. As with car insurance, full coverage boat insurance covers almost everything, including theft, fire, accidents, and natural disasters.

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If you have the financial ability to absorb unexpected costs or if you simply want to keep your insurance costs low, liability boat insurance will cover costs of damages to other people or property, NOT your own damages. (Full coverage may be required if you are still financing your boat, just like with cars.)

Consider the following:

• The value of your boat
• The risks you take while boating
• The location where you do most of your boating
• How much insurance you can afford
• How much cost you can cover should you need repairs

And keep in mind the possibility that you could be sued if others suffer as a result of a boating accident.

Motorcycle Insurance

Motorcycle insurance isn’t a choice – you must have a policy taken out on your bike in order to drive legally. Much like car insurance, liability coverage is mandatory. Collision insurance, comprehensive coverage and uninsured/underinsured motorist coverage are optional coverages that you may wish to add to your policy. Below are brief descriptions of the various coverage options for your motorcycle:

Liability Insurance:

This type of insurance covers any damage or injury you may cause to property or other people in the event you are deemed to be at-fault in an accident or collision. However, it doesn’t cover you or your motorcycle. Some policies may include coverage for a guest passenger as well, but this is not guaranteed.

Collision Insurance:

You can add collision insurance to your policy to cover your motorcycle if liability insurance isn’t enough to help you sleep soundly at night. Collision insurance pays for damage to your motorcycle, less your deductible. Even if the damage is your fault, this coverage will still apply.

Comprehensive Coverage:

This coverage protects your bike from non-accident related perils; including fire, theft, and acts of vandalism.

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