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Lee Insurance Agency LLC

119 W South Railroad St, PO Box 1212
Four Oaks, NC 27524

3 things you didn’t know boat insurance covers

Although boat insurance isn’t a requirement in North Carolina, you don’t want to leave the marina without it. Boats are expensive toys and repairs can become costly. Even a small accident like denting a fiberglass hull while docking can result in thousands of dollars in repairs for which you’ll be on the hook without insurance. Furthermore, with so many boats and watercraft on the water, it’s unclear what operators are carrying the right insurance, so it’s best to ensure that you are protected via boat insurance. Similar to auto insurance, boat insurance covers many of the same incidents, such as liability coverage for injuries or property damage to third parties, comprehensive for damage incurred by storms or similar, collision for damage caused by accident, and uninsured/underinsured boater coverage to protect you from having to pay out of pocket if a vessel without insurance is at fault in an accident.

Keep reading to learn about a few items that we bet you didn’t know boat insurance covers.

Emergency Towing: As an optional coverage, you’ll want to be sure your insurance provider includes emergency towing if it’s of interest. Should your vessel be stranded because of engine problem, mechanical failure, or any other reason, you won’t be responsible for paying hefty tow fees because the insurance company will cover the majority.

Storage Coverage: If you store your boat out of the water during the off-season in a marina or boat yard, your boat will be protected from covered perils.

Personal Property Coverage: While the boat itself is expensive, so too are any personal items that you have onboard. Stop worrying about having to replace these items with personal property coverage. 

Lee Insurance Agency LLC is here to serve you.

For more information on boat insurance, let the team at Lee Insurance Agency LLC in North Carolina help. 

What Does Boat Insurance Cover?

Most people do not pay attention to boat insurance, as the number of boat accidents is few, and it is not mandatory in most states, including North Carolina. However, having boat insurance can come in handy because you are exposed to various risks from which you need protection. As Lee Insurance Agency LLC explains, here is what is covered under boat insurance.

Physical Damage

It helps cover damage caused by different perils like fire and vandalism. Also, if your boat is stolen, whether on land or water, this coverage can help replace it. Since the owner bears the responsibility of taking care of their boat, normal wear and tear are not covered under physical damage coverage. However, physical damage covers things like batteries, motors, anchors, and safety equipment such as fire extinguishers.

Medical Payment Coverage

Suppose you get into an accident where either you or your passengers get injured. In that case, this type of coverage helps take care of the resulting medical expenses, including hospital bills, medication, and X-rays.

Liability Coverage

If you cause damage to other people’s boats or structures while sailing, your boat covers any arising expenses you might incur. Liability coverage can also provide protection when a third party is suing you for damages, where it helps cover legal fees or a settlement. As a policyholder, it is always a good idea to talk to your agent first before purchasing coverage.

Uninsured/ Underinsured

Considering that boat insurance is not mandatory, it is possible that you may get into an accident with someone uninsured. In other cases, the other party might also be uninsured. This type of coverage helps cover any expenses arising from such an accident.

If you are a boat owner in North Carolina, consider the peace of mind you might enjoy as you sail in a boat, knowing you are fully covered. Contact us today at Lee Insurance Agency LLC where we can help you choose a suitable policy.

Why boat owners in North Carolina need boat insurance?

A boat owner in North Carolina will enjoy the long summer months and access to open waters. If you would like to own a boat here, you need to make sure you get the right type of coverage. There are a few reasons that boat owners should get the right coverage and protection for their boats in this area. 

Protect Investment in Boat

Many boat owners in this state will get an insurance plan so they can protect their investment in their boat. Boat owners will spend a lot of money buying, maintaining, and caring for their boats over the years. To ensure that this pays off in the long run, you should get proper insurance. With boat insurance, you will have coverage to mitigate many scenarios that could result in a loss.

Insurance is an Obligation

A boat owner may also need to get proper insurance for it because it could be an obligation. If you have taken out a boat loan or use certain marinas or waterways, having insurance may be a contractual obligation. With a full insurance plan, you will stay in compliance with all agreements while also having ample coverage against the risk of liability and other forms of loss. 

In the state of North Carolina, you will want to know that your boat is properly covered with insurance. As there are many choices to make when picking a new plan, you should call Lee Insurance Agency LLC. The team that works with Lee Insurance Agency LLC knows the value that comes with this type of coverage. They will give you the guidance to understand your options and choose a policy that provides adequate protection. 

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