What coverages are provided in the typical boat owners package policy?
Before we discuss the contents of a typical boat owners package, it should be noted that these contracts can vary substantially from one insurance company to another. Therefore, when you are comparison shopping, be sure that you understand what coverages the insurance company is offering in its policy. That being said, there are a number of common coverages that are provided in most boat owners insurance policies. First, most policies offer coverage for physical damage losses to the boat, typically on an all-risks basis. Second, most policies offer liability coverage for any damages arising out of the negligent ownership or operation of the covered boat. Third, most policies provide coverage for medical expenses incurred by the driver and passengers involved in a boating accident. Finally, some boat owners policies provide an uninsured boaters coverage that is very similar to the uninsured motorist coverage included in the private passenger automobile insurance policy.