Is Your Boat Covered Under Your Home Insurance Policy?

Apr 11, 2024

Understanding Boating and Homeowners Insurance

Consulting with qualified insurance agents, like those at Capital Gate Insurance, is crucial to understanding the distinctions between homeowner's and boat insurance. Typically, homeowners insurance provides very limited coverage for watercraft, focusing mainly on small boats. For instance, it may cover liability if you own a small sailboat or a motorboat with no more than 25 horsepower. However, homeowner's insurance rarely covers theft, sinking, or collision without a separate boat policy.

Specialized Boat Insurance

Theft or damage to your boat, as well as liability risks, underscore the importance of adequate boat insurance. Homeowner's policies may offer minimal protection for physical damage while the boat is on your property and often cap coverage at around $1,000, which is insufficient for serious incidents. Additionally, personal property on your boat is generally not covered unless it's an item typically found in a home.

Taking Action for Specialized Coverage

To ensure your boat is thoroughly protected, invest in a specialized boat insurance policy. In New York, where boating insurance is not mandatory for registration, many boaters lack the proper coverage. Capital Gate Insurance offers affordable boat insurance solutions tailored to each boater's needs. Avoid risking your assets; call our licensed agents to review your policies and secure the proper coverage before the boating season commences.

Evaluate and Insure

Whether for leisure or practical purposes, if your boat's value exceeds $1,000, or if its size demands it, consider a dedicated policy. Homeowner's insurance shouldn't be your sole reliance for watercraft coverage. Reach out to Capital Gate Insurance now and choose from our preferred carriers so that you can sail with peace of mind.

For a formal assessment of your insurance needs and guidance on the right coverage for your boat, connect with Capital Gate Insurance. Click or call today for expert advice and comprehensive solutions.

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