Boat Insurance in Traverse City, MI

Boat ownership is a substantial investment that carries risks and responsibilities. Activity on the water can be unpredictable, sometimes leading to costly accidents or damage to your vessel. Make sure you’re financially prepared for unforeseen events by purchasing a boat insurance policy.

What Is Boat Insurance?

Boat insurance may safeguard boat owners against financial loss due to accidents, theft or other covered events. This type of policy usually includes coverage for physical damage to the boat, liability protection and coverage for personal belongings on board.

Although Michigan law doesn’t mandate boat insurance, many marinas and lenders do. If you dock your boat at a marina, they’ll likely request proof of insurance. Similarly, if you financed your boat, your lender might require you to have it as part of the loan agreement.

How Does Boat Insurance Work?

Boat insurance may provide financial assistance if covered events such as accidents, theft or natural disasters occur. When you purchase a policy, you pay a premium, and in return, your insurance company may agree to cover certain costs up to the policy’s limits. If an accident happens, you may file a claim with your insurer, who will assess the damage and determine the appropriate payout. Depending on your policy, boat insurance may cover repairs to the vessel, medical bills for injuries and legal expenses if you’re sued.

How Much Does Boat Insurance Cost?

Several factors affect your boat insurance cost. Insurers typically consider the following:

• The type and size of the boat

• The boat’s value

• Your boating experience

• Where the boat is stored

• How often the boat is used

To determine the right amount of coverage and find potential discounts, consult an insurance agent who can guide you through the process and ensure you get the best policy for your needs.

Explore Boat Insurance Options

With the right boat insurance policy, you can enjoy your time on the water without worries. Contact Vozza Insurance Agency today to learn more and get a quote.