Different Types of Boat Insurance Coverage

Owning a boat in Illinois, with its numerous lakes and rivers, can be a delightful experience. However, financially protecting your vessel is crucial. While typically not mandated by Illinois state law, boat insurance is highly recommended to safeguard against financial losses.

Boat Insurance Options

Boat owners should consider the following coverage options:

• Liability insurance is often required by marinas and lenders. It can help pay for legal expenses and damages if you cause bodily injury or property damage to a third party.
• Collision insurance can help cover repairing or replacing your boat if it is damaged in a collision with another vessel or object, no matter who is at fault.
• Comprehensive insurance can help financially protect against noncollision-related incidents such as theft, vandalism, fire or weather events.
• Medical payments coverage may assist with medical expenses if you or your passengers are injured in a boating accident, regardless of fault.
• Uninsured/underinsured boater coverage can help prevent you from bearing the entire financial burden if you are involved in an accident with someone without sufficient insurance. This can include helping with medical expenses, property damage costs and legal fees.
• Fuel spill/wreckage cleanup coverage can help cover cleanup costs in the unfortunate event of a boating accident that results in a fuel spill or wreckage.
• Personal effects coverage can help cover the loss or damage of items on your boat, such as fishing gear, electronics and other valuables.

Learn More

For boat insurance near you, contact Harlem Insurance Agency.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.