Why All Boaters Needs Boat Insurance

When you are the owner of a boat, it takes a lot to maintain and protect your boat. One of the things you need to do to protect it is to have boat insurance. While Idaho state law does not require you to have boat insurance to go out on the water, it’s a smart idea to have it at all times. It’s better to have your boat covered so that you can mitigate the many risks that your boat is exposed to.

Boat insurance can handle a wide range of problems and save you an enormous amount on damages and other costs. Call us at The Insurance Shop USA in Sandpoint, ID to get started with boat insurance.

Accidents in Your Boat

You have auto insurance to protect your finances in case you get into an auto accident. The same is needed for your boat. Boating collisions are a common occurrence, and they can be extremely expensive. If you are at fault for a boating accident, you could have to pay an enormous amount for damages to the other person’s property and any medical bills. When your boat is covered by the proper insurance, you will have more confidence out on the water.

Boat Coverage Types

There are several different types of boat coverage that you can get in your policy. It’s important to have liability coverage to protect you against fees that can be due after you’re at fault for an accident. You should also have collision insurance for it that will pay for your own boat’s damages if you get into an accident. There is also comprehensive coverage for your boat. This covers a wide range of risks that exist for your boat when it’s out of the water. 

Get Boat Insurance

Call us at The Insurance Shop USA in Sandpoint, ID to get your boat policy.

In the Event of a Catastrophe, Umbrella Insurance Can Help

Are you thinking, “what is umbrella insurance, and why would I need it?” Umbrella insurance provides additional liability coverage for others and damage to their property. If you live in or near the Sandpoint, ID area, The Insurance Shop USA can explain the benefits of having this coverage.

Umbrella liability coverage takes effect when your other insurance policies have been exhausted. It protects you against potential financial disaster resulting from unforeseen events leading to property damage or injury for which the policyholder is at fault.

If you have significant wealth, it is worth obtaining an umbrella policy. The liability coverage provided by your homeowners and auto insurance policies may not be enough if you get sued for a dog bite, accidental injury to someone else, or a car accident.

Your assets and savings need protection beyond the liability limits provided by your vehicle and home insurance. Umbrella insurance protects your assets up to $5 million or more, depending on the insurance company.

Purchase as much coverage as your total net worth. Consider assets such as your home, cars, investments, retirement accounts, and college savings. To put it simply, if your assets total $1 million, purchase at least $1 million in umbrella coverage.

Something for seniors to think about. If you are on retirement income, a car accident you are responsible for could present a problem. If you are sued, your assets are at risk. Umbrella insurance is a form of liability protection specifically designed to protect the insured’s assets.

If you have assets that need protection, consider an umbrella policy with the help of The Insurance Shop USA. Don’t risk losing your assets through a lawsuit. Contact them today to make sure you are protected.