The old joke goes like this: Don’t be the one who owns a boat, be the friend of the one who owns the boat.
But that’s not you. You own a boat for a reason. The beauty of the water, watching fireworks on the Fourth of July from the tranquility of the harbor, catching fish with the kids. Owning a boat – whether it is a luxury yacht or a little skiff – is a bit more complicated than owning a car or a truck. But the reward is freedom. There is nothing else like it. You’re the captain, it’s your ship, and everything fades into the blue when you’re on the water and the sun shines upon you.
A Massachusetts boat insurance policy is likely the furthest thing from your mind in that moment of endless sea and blue skies. But it’s as important as the life jackets you have stowed away. If you’re covered with the proper insurance policy, you can truly enjoy smooth sailing.
The sense of freedom and exploration aside, your boat is also one of your most valuable assets. You want it to be safe and mechanically sound. But you also want to protect your investment.
Of all the things you can insure, a boat represents your lifestyle as much as it does your financial security. If lost due to fire, windstorm or even lawsuit, it’s crucial that you have the appropriate coverage to replace or repair your vessel. Your homeowners policy may provide some coverage for small boats, but it’s probably limited, at best.
And if, God forbid, you’re in an accident with damage to any other property or if someone is hurt, you are liable for the costs of all the damages.
Like most of your insurance policies, in Massachusetts your boat insurance will pay for the costs of specific identified losses that may occur during your policy period – typically for an entire year or for a defined boating season.
You need an expert with your best interest in mind to help you navigate these waters. Contact us to see how simple and inexpensive it can be to insure one of your most exhilarating and liberating assets. You can concern yourself with where to take your boat and which snacks to pack for the trip while we sweat the details of making sure you and your passengers are safe.