Boat Insurance: What You Need to Know When Buying Your First Policy

Spring is just around the corner and this means that people who love boating are starting to think about getting on the water. If you have just purchased your first boat, Nieroda Insurance Agency, serving the greater St. Louis, MO area, wants to make sure you know key information that will help you understand boat insurance. Here are a few things that you should know when buying your first boat insurance policy. 

What Boat Insurance Covers

Standard boat insurance typically covers physical damage to your boat should you get into a boating accident, cause property damage, or bodily injury. You can also purchase comprehensive boat coverage that would cover you if your boat is stolen, catches on fire, floods, or is vandalized. Personal property insurance may also be purchased to cover any extra items that may be inside the boat, such as fishing gear or sound systems. 

Where Your Boat is and Isn’t Covered

When you are buying boat insurance, it is important that you understand where your boat is and is not covered. Some policies restrict where you can take your boat based on the size of the boat and safety concerns. Always read what waterways your boat is covered in and which are restricted. 

What it Means to Lay Up Your Boat Insurance

Lastly, you should know what it means to lay up your boat insurance. If you store your boat in a storage facility or your garage, you may have the option of laying up the boat insurance. This means that your boat is not covered on waterways while in storage. This can save you money but you need to ensure you don’t forget the insurance is laid up and then try to use your boat, or you will be without coverage. 

If you are looking to purchase a boat insurance policy in the greater St Louis, MO area, turn to Nieroda Insurance Agency. Give us a call today to get started.