Boats are very popular and fun recreational vehicles, especially in the Land of Lincoln, which buts against Lake Michigan and the Mississippi River. You likely carry insurance for other important assets like your home and automobile, so to be a responsible boat owner, consider purchasing Illinois boat insurance to protect yourself, your passengers and your assets.
If you are in the market for boat insurance, you have many options for companies and policies to choose from. How do you sort through it all? The first step you can take is to meet with a local independent insurance agent in our insurance network. That is the most efficient way to get the best quotes and the best policies to meet your needs, because these agents have access to many insurance companies, not just one. A member agent can present you with comparative Illinois boat insurance quotes in one place, so you’ll feel confident you’re making the best choice for your needs and budget. Contact an agent today to get started.
- In recent years, there were 106 boating accidents (2.3 percent of the U.S. total), with 23 deaths and 67 casualties reported
- 31 of the accidents were collisions with another recreational vessel
- During previous years, Illinois averaged 105 boating accidents per year, 15 of them fatal
What Does Illinois Boat Insurance Cover?
Boat insurance protects you financially from accidents that might occur while on the water, or while towing from your home to the lake or river. Boat insurance, like car insurance, protects you from loss in case of an accident, damage to your boat or injuries of you, your passengers or those on another vessel. Whether you take a high-dollar yacht, a bass boat, a fishing boat, or a canoe on the water, it’s important to know what you’re covered for. Your Illinois boat insurance policy may include several coverage options similar to those in a car insurance policy. The most common coverage options are:
- Property damage liability: This protects you if you’re at fault in an accident. This pays for damage on the other party’s boat, up to the policy limit.
- Personal injury liability: Protects you if you are at fault in an accident that causes injuries to people in the other vessel. This pays medical bills up to the policy limit per individual and per occurrence.
- Comprehensive: Pays for damage or loss to your boat due to an object or severe weather (hail, hurricane winds, etc.). Boat owner usually pays a deductible up front before repairs are paid.
- Collision: pays for damage to your vessel caused by an accident. Usually, a deductible is paid by the insured first before the repairs are paid by the insurer.
- Underinsured motorist: This pays for expenses if you are involved in an accident with a boater who is uninsured or does not have enough coverage.
There are other less common coverage options you may need to fully insure your boat. Your independent insurance agent can work with you to determine the coverage that best fits your needs.
Do I Need Illinois Boat Insurance?
As in most states, boat insurance is generally not a requirement for operating a vessel on the waterways in Illinois. Regardless, having an insurance policy on an expensive investment like your vessel is a good way to protect your finances. A local agent in our network can sit down with you and assess your situation. Here are some questions that you may consider to determine whether coverage would be appropriate for you:
- Do you own the vessel, or are you financing it?
- Do you have an emergency fund or enough cash to pay for a new boat?
- Can you cover medical costs if you injure someone in an accident?
- What is the value of the boat? Is it new or used?
- How often will you use the boat?
How Can I Find Competitive Illinois Boat Insurance Quotes?
While you can certainly find plenty of insurers that offer quotes online from their websites, it is tough to find apples-to-apples comparisons and to ensure your quotes accurately reflect what you need in insurance coverage. And not every company is authorized to offer quotes for insurance on boats registered in Illinois.
The best way to get is to sit with your local independent insurance agent. Every boat, owner and situation is unique, so it takes a personal touch to ensure you get the coverage and the quotes that are right for your needs. The added benefit for an agent is the independence; no matter what company you choose for boat insurance, your local agent can handle all the paperwork and can file claims for you. It’s a one-stop-shop for all your insurance needs in the great state of Illinois.
Contact your local agent today.