Boat insurance helps protect the value of your boat and can also safeguard you against injury and litigation-related expenses. Though coverage is not as widely required in the U.S. as auto insurance, boat owners are often required by lenders and marinas to purchase a watercraft insurance policy. Regardless of whether you are or are not required to purchase boat insurance, having a personalized policy in place can help protect you against a broad range of perils, whether you experience an on-water incident or suffer a loss while your boat is stored away for winter. If you are purchasing a boat or looking for better coverage for an existing watercraft, the team here at Burstad Insurance can help you find what you need at competitive rates from some of Wisconsin’s leading boat insurers.
Burstad Insurance can help find coverage for many different types of vessels. Examples include:
- Pontoon Boats
- Deck Boats
- Ski and Wake Boats
- Fishing Boats
- Bowriders
- Sailboats and Catamarans
- Personal watercraft
- And more
Types of Boat Insurance Coverage
There are thousands of boating accidents every year that result in millions of dollars in physical damages and thousands of injuries. These accidents can happen to anyone – including cautious and experienced drivers. Boat insurance can help you financially prepare yourself against damages and loss occurring on land and water, including collision, theft, liability, and even the capsizing of your boat.
At Burstad Insurance, we offer a wide range of boat insurance coverage types, each of which provides different benefits and risk mitigation. Your policy may include protection for:
Liability
In most states and instances, you are legally responsible for the damages and injuries you cause as a result of a boat-related accident. If you are at-fault for third-party injuries and property damages, boater liability insurance can help pay for the losses, as well as your legal fees if you are sued. We encourage our clients to consider the cumulative expenses of a lawsuit and what it could cost long-term. Property damages, medical bills, lost wages, and other costs can add up to tens or even hundreds of thousands of dollars. If your coverage is inadequate to cover the bill, you may have to pay excess damages out of pocket. Choose high limits for your boat insurance liability to better protect yourself against loss.
Physical Damages
Boats are costly to repair or replace. The physical damages coverage on your boat insurance policy protects the investment you made in your boat by compensating you for damages and total losses caused by a covered event. Talk to your agent to ensure your policy covers both collision and comprehensive damages. Together, these two coverages can pay for damages caused by inclement weather, fire, theft, boating accidents, running your boat aground, and more.
Special Equipment
Many boaters carry expensive equipment and nautical accessories onboard their watercraft. If you have fishing gear, wakeboards, electronic navigation technology, or some other after-market equipment, talk to your agent to find out how you can include additional coverage for these items in your policy.
Trailer Coverage
Replacing your boat trailer could cost thousands of dollars. At Burstad Insurance, we can help you extend your boat insurance to cover damages and theft of your trailer.
Uninsured Boater Coverage
Many boaters are uninsured in Central and Western Wisconsin. If you and your passengers are injured by someone who has no liability insurance, your uninsured boater protection can help pay for your medical expenses up to the limits of your policy.
Medical Payments
After a boating accident, injured passengers may need immediate medical attention. Although it can take some time to determine fault and who is responsible for the damages, medical payments coverage can provide immediate compensation for essential medical care regardless of who caused the accident. Though limited and not an abatement for either party’s potential liability, this coverage may be enough to pay for emergency room fees or a health insurance deductible for you and your passengers.
Towing and Emergencies
If you are stranded on the water, calling for help should not be a burden. Talk to your agent about including coverage for towing and emergency assistance should you ever need it.
Wreckage Removal
Boat wreckage must be retrieved from public waters, and it is up to you to pay for removal. With wreckage removal coverage, you can trust you are covered for the cost of salvage and retrieval if your boat sinks or capsizes.
How Much Boat Insurance Do You Need?
Several factors can contribute to your coverage needs as a boat owner. At Burstad Insurance, we work with you to assess your individual risk profile based on a wide range of variables. This process helps minimize gaps in your protection and better safeguard you against financial loss. We may consider:
- The type of boat you own
- Your boat’s age and condition
- Where you operate your boat
- The types of boating activities you engage in
- Your current and future income, including potential inheritances
- Your accumulated assets
- And more
Boat Insurance Quotes and Discounts in Central and Western Wisconsin
As an independent agency, we make it easy to shop and compare boat insurance policies throughout Central and Western Wisconsin. We know you have choices when it comes to your boat insurance, and we can help you leverage those options to maximize the value you receive from your coverage. When you work with our team, you have access to boat insurance quotes from multiple insurers while also enjoying the support and advice of a local independent agent.
While exploring your coverage options, we will also check for discounts that could save you money on your boat insurance. Many insurers offer additional savings to policy-holders who have no recent record of claims or violations. Discounts may also be available for boaters who enroll and complete an approved safety course, as well as for those who store their boats during the off-season.
For more information about Wisconsin boat insurance and how an independent agent can help you save on the coverage you need, contact our office today.
