Rhode Island is not an island, but it is surrounded by more than its fair share of beautiful Atlantic waters. One of the best ways to relax is to take your favorite watercraft out on the rivers, bays and open sea, for fishing, skiing, and parasailing. But when you do this, you face some risk for accidents, damage to your boat, or injuring other boaters or other people enjoying the water. The safest way to protect yourself financially from the risks you face on the water is purchasing Rhode Island boat insurance.
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What Is Rhode Island Boat Insurance?
Like your home or automobile insurance, Rhode Island boat insurance is a form of protection for your financial assets should you suffer loss, damage or injury, due to an accident while on the water. You can find a policy for virtually any watercraft, from canoes and kayaks all the way up to houseboats, bass boats, pontoons, and yachts. As there are many different types of boats and owners, you cannot settle for “cookie-cutter” coverage. The best policy is one that is specially chosen for your particular boat and boating habits.
What Does Boat Insurance Cover?
Similar to auto insurance, Rhode Island boat insurance protects your financial assets in the event that you are involved in an accident or event with your boat that causes damage to your or others’ watercraft and/or injures others. These events can be expensive and boat insurance will help you keep your financial house in order.
Some of the key coverages are familiar, like:
- Liability: This pays if you are at fault in an accident, and there is damage to another watercraft, or if there are injuries or deaths associated with the accident.
- Comprehensive: This covers your boat in case it suffers damage due to a weather event, or hitting a stationary object like a pier or a buoy.
- Collision: This pays for damage to your boat due to an accident.
Some other coverage types are available as well, like towing and salvage coverage, in case your boat is disabled and needs help getting back to shore, or fuel spill coverage in case you pollute the water with a fuel or oil leak. Other coverages that might suit your needs include medical payments coverage, equipment coverage, and boat trailer insurance.
How Much Is This Coverage, And How Do I Get Quotes?
Rhode Island boat insurance, like the boats it covers, varies widely in terms of the amount of coverage you get and the premium you pay. Factors that determine cost are the age and condition of the boat, the size, whether there are adequate safety devices on board, whether the operator has had boat operation instruction, the age and gender of the operator, as well as how often the boat would be used, and for what purpose.
Your local Trusted Choice® agent can sit with you and assess your boat use, and can find you some quality Rhode Island boat insurance quotes from a number of reputable companies. From there you can make an informed decision about the right coverage for your needs, so you can enjoy the water with complete peace of mind. Find a Trusted Choice agent today.