Everyone needs some love, especially your boat.
Show your boat some love and protection with boaters insurance. Here is the blaring question everyone wants to know: is boater’s insurance required by law? No, BUT, it is a very, very smart financial decision.
Why is boat insurance a smart decision?
There are lots of reasons, but here are just a few:
- Because your boat was an expensive purchase, especially since 2020
- Because you like to drive your boat fast?
- Because you use your boat as often as you can, depending on season and weather of course!
- Because there are approximately 44 boating accidents every year in Colorado
- Because the average boating accident costs $1700, and that is out of pocket. A minimum liability coverage worth at least $500,000.
- Discounts are available
- A good driving record
- Safety equipment
- Take a boating class or a safety course!
- ABOVE ALL, because it is inexpensive at $256 per year on average in Colorado. Some factors will influence the cost.
- What type of boat you have, the length and the engine size
- I’m gonna need insurance for my bigger boat
- If you choose to bundle, which you can with us!
- Whether you use your boat on brooks, streams or big lakes
- If you have towables, such as a tube, fishing gear or water skis.
- If your boat is used for commercial purposes
- Where your boat is stored
- Your auto and boat driving record
What type of coverage is available?
- Boating liability insurance: the basic coverage, which will cover the cost of injuries or property damage if you are at fault for an accident
- Uninsured/underinsured boater insurance: since boater’s insurance isn’t required in Colorado, many boaters may not have insurance in case of an accident. In that event, you will want some help. Uninsured/underinsured boater insurance is an excellent decision for a little extra protection.
- Physical damage insurance: will cover the cost of damage to your boat in case of a collision.
- Comprehensive insurance: will cover non-collision-related damage such as fire, theft and vandalism
- Equipment insurance: will cover damage to your towables such as fishing gear, GPS or any other accessories.
- Medical payment insurance: in the case of injury to your passengers in a boating accident, regardless of fault.
- Fuel spill/wreckage clean up: in the likely case that your boat will spill pollutants, you may be charged a hefty fee. Fuel spill clean up insurance will cover those fees.
Things to think about when purchasing boaters insurance:
- Where will you be using your boat?
- If you plan to use your boat outside of Colorado, plan ahead, because some areas in the country have their own boaters insurance requirements.
- Actual cash value
- Just like your car, once you use your boat it decreases in value. Insurance can help preserve the actual cash value of your boat to prevent you from losing money.
- Your policy can be suspended when your boat is not in use
- Yes! When you aren’t using your boat, you don’t have to pay for your policy!
- Work with an agent that knows boat and boater insurance, us!
- You need an agent who knows what they’re doing so that you don’t pay more than you have to.
Boating accidents will cost you a great deal of cash if you are not protected. We have affordable and smart boat insurance options that will protect you at a low cost. Why wouldn’t you want a little extra protection?! Reach out to us and we’ll give you the best boat bundle that we have.