Boatowners insurance, Luxury Yacht Insurance, and Personal Watercraft (PWC) Insurance works much like auto and homeowners insurance. Policies provide basic coverages that you can customize to meet your specific needs.
Here are some of the coverages you should look for in a boatowners policy:
Liability to others
Medical payments
Damage to your craft and related equipment
Medical expenses for guests as towed water-skiers
Here are some of the hazards boatowners insurance can cover.
- Damage in hauling or launching
- Loss of motor overboard
- Fire, lightning, explosion
- Sinking and stranding
- Underwater damage
- Theft