The Granite state has its fair share of bodies of water. With a variety of rivers, lakes, and ponds, as well as beach access nearby, the urge to own a boat is strong in this tiny state. Whether you prefer to take a ride on the Winnipesaukee River, haul the whole family to the Ellacoya State Park beach for a day of fun in the sun, or take your fishing boat to Lake Winnisquam, the options are seemingly endless when it comes to boating activities in this state. However, it is important to remember that safety comes first. Follow safe boating practices and protect your investment with suitable New Hampshire boat insurance.
NH Boating Accident Facts
- During previous years, this state experienced the eighth-largest increase in boating accidents throughout the U.S.
- During previous years, there were 49 boating accidents reported in this state
- During previous years, there were 79 boating accidents reported
- During previous years, New Hampshire residents registered 101,297 boats with the Coast Guard
- There is a state law that mandates boating-education certification for boaters
Do I Need New Hampshire Boat Insurance?
Although it is not required by law, purchasing a boat insurance policy is a good idea. While a bass boat can be expensive, there are many boats that cost as much as a luxury vehicle, and sometimes even more. An insurance policy helps to protect your investment and your finances, and can, therefore, provide you with peace-of-mind. Boating accidents can happen even to the most careful and experienced boaters. A severe accident may result in extreme out-of-pocket costs. With the right New Hampshire boat insurance policy, the costs of property damage and medical treatment are covered up to your maximum limit.
Even if your boat is not in use, it is subject to falling objects, severe weather damage, theft and vandalism. While your homeowner policy may cover a portion of your losses, do not rely on it to cover the entirety of your claim. Furthermore, the coverage offered by your home insurance policy will be very limited and cannot cover many of the hazards that a New Hampshire boat insurance policy can.
What Are My Coverage Options?
Not all boaters require the same type of New Hampshire boat insurance, but it is important to know what is available. If you have a yacht, you will need a different type of coverage than someone with a smaller boat will. Most policies will automatically include two main forms of coverage:
- Liability insurance: This part of your policy will cover third-party property damage and bodily injury that result from an accident that you caused. In the event that you are sued for damages, your liability coverage will assist with defense fees and court costs. Having enough coverage is important. The more you own, the more you have to lose. If you are considered “suable,” it might be time to invest in an umbrella liability policy.
- Comprehensive/collision insurance: If your boat is damaged in an accident for which you are at fault or if your boat is damaged by vandals or a severe weather event, this part of your policy covers your repair and replacement costs. You can choose to insure your boat for one of the following amounts:
- Actual cash value
- Agreed value
- Total loss replacement/purchase price
Other coverage options that are available include:
- Property coverage
- Fishing equipment coverage
- Towing and roadside assistance coverage
- Medical payments coverage
- Wreckage and fuel-spill clean-up
Regardless of the options you choose, keep in mind that if you file a claim, you are responsible for paying the deductible. You will, therefore, want to make sure that it is at an affordable level. If you can afford to cover a high deductible, opting for one can lower your insurance premiums.
Where Do I Find New Hampshire Boat Insurance?
There are a number of insurance companies that offer boat insurance. Instead of spending your valuable time contacting different insurance companies and comparing policies, you can leave the legwork up to an agent. These independent agents have relationships with multiple highly-rated insurance providers. They can use these relationships to present you with a variety of competitively-priced policies from which to choose. Do not wait until it is too late. Boating accidents can happen any time you take your craft out onto the water, so now is the best time to secure an insurance policy.
Contact an agent with an office near you to discuss your policy options, get answers to your insurance-related questions and start comparing New Hampshire boat insurance quotes.