Boat owners can opt for boat insurance or toy insurance in Sandpoint, ID. Both often have liability coverage to ensure you’re financially protected if there’s an accident. However, there are a few key differences you should be aware of to make the right decision for your situation.
Boat Insurance Requirement
Sometimes, you’ll be required to obtain coverage specifically for your vessel. Many marinas require this because watercraft coverage often has higher liability limits, so they may not accept a toy insurance policy. Lenders often require you to have specific insurance coverage as well. They may also ask companies like Selkirk Insurance Services for verification. If your toy policy doesn’t meet their requirements, they can repossess your watercraft.
Insurance Add-Ons
Policies designed for boats often give you the option of additional coverage. For example, you may be able to get a package that includes:
- Wreckage cleanup
- Fuel delivery
- Fuel spill cleanup (This is separate, even if the fuel spill is due to an accident.)
- On-water towing services
- Additional coverage, like comprehensive and collision
- Additional bodily injury coverage
You can get add-ons that are like roadside assistance, but for your boat.
Toy Insurance
Toy insurance is typically a broad policy that can be used for various recreational vehicles, including boats, Jet Skis, four-wheelers, and golf carts. Coverage levels may be sufficient to repair or replace your boat after an incident, but this depends on your boat’s replacement cost. However, this policy may cover things like vandalism if you park your boat and need minimal coverage during the off-season.
Whether you need toy or boat insurance depends on your situation and the boat. An agent at Selkirk Insurance Services can help you decide which is right for you. Contact us to find the right insurance for your vessel. We’re currently serving the Sandpoint, ID, area.
