Chicago is a great place to live if you have a boat, whether it is a fishing trawler, pontoon, canoe or yacht. Anyone living in and around downtown Chicago can practically throw a stone into Lake Michigan, one of the Great Lakes, and certainly one of the more popular boating and recreational areas in the country during the summer months.
Being a responsible boater involves following the local laws and regulations in the area and making sure you have life vests for everyone on board. What about insurance coverage for your boat and passengers? To find out what type of insurance you need to protect your boat investment, contact a local independent agent in the Trusted Choice network. One of these agents can help you compare quotes and find the Chicago, IL boat insurance policy you need. Contact a member agent today to get personal assistance with all of your insurance needs.
- In 2011, there were 106 boating accidents (2.3% of the U.S. total), with 23 deaths and 67 casualties reported.
- Thirty-one of the accidents were collisions with another recreational vessel.
- From 2007 to 2011, Illinois averaged 105 boating accidents per year, with 15 of them each year causing death.
What Does Boat Insurance Cover?
Chicago boat insurance can protect you financially from loss resulting from an accident or other incident, including times when you are towing your boat on a trailer. Boat insurance is like car insurance in that it protects you from loss, damage to your boat, or injuries to you, your passengers or those on another vessel after an accident.
Boat insurance coverage often includes:
- Property damage liability: If you are to blame for an accident on the water, this coverage pays for damage to the other vessel, up to the policy limit.
- Personal injury liability: If you are at-fault in an accident, this portion of your liability coverage pays medical bills up to the policy limit for those injured in the accident.
- Comprehensive: This pays for damage or loss due to collision with an object (NOT another boat) or a weather event. After you pay your deductible amount; the the insurer covers the difference up to the limit on the policy.
- Collision: Collision pays your vessel’s damage costs after an accident with another boat once you pay your deductible amount, up to your set limit.
- Underinsured boater: This pays for expenses if you are involved in an accident with a boater who is at-fault and is uninsured or does not have enough coverage.
There are also other coverage options to review that may meet your needs, such as towing and wreckage removal. A Trusted Choice independent agent can help you determine the coverage and potential discounts that best fit your needs.
Is Chicago Boat Insurance Required?
In the city of Chicago, as in most areas, boat insurance is not required to operate a vessel. However, it can provide excellent financial protection from the costs of injuries, property damage and even a lawsuit.An independent agent in the Trusted Choice network can help you assess your situation. Here are some considerations for when you are making a decision about your boat insurance coverage:
- Do you own the vessel outright, or are you financing it?• How often will you use the boat?
- Do you have an emergency fund or enough cash to pay for a new boat in the event of a total loss?
- Can you cover medical costs if you injure someone in an accident?
How to Compare Chicago Boat Insurance Quotes
The best way to get Chicago boat insurance quotes is to find a local member agent in the Trusted Choice network. Every situation is unique, and it is important to work with a knowledgeable agent who can help you choose the right coverage to meet your needs. Independent agents have access to multiple insurance companies and can help you compare Chicago boat insurance quotes. Contact a local member agent for personal assistance today.