Unlike auto and homeowner’s insurance policies that tend to have little variation, boat insurance coverage can vary widely from insurer to insurer. Boat owners can customize their marine policies to include many different coverages depending on what their carrier offers. Like most other forms of insurance, boat insurance has two primary components: liability protection and coverage for physical damage. We will explain these two components in greater detail and discuss more specific types of coverage in what follows.
Physical Damage Coverage
Physical damage protection on a boat insurance policy is much like the collision and comprehensive coverages in your auto policy. This coverage will pay to replace or repair your vessel in the event of a covered loss. Some policies restrict coverage to the perils specifically enumerated in your agreement, while others cover all losses except for those that are expressly excluded in the agreement. Similarly, some boat and yacht policies will not cover any damage related to wear and tear, but you may find a company that will reimburse you for such damage under certain circumstances. Depending on your insurer, the physical damage component of your policy may include the following extra coverages:
Personal possessions. Many boat insurance policies limit the extent of their coverage to items that are actually part of the vessel. For instance, if fishing gear, jet skis, scuba diving gear, etc. were damaged on your boat, your losses would probably not be covered because these items are not regarded as part of the boat.
Emergency assistance. Usually, adding emergency assistance coverage to your boat insurance policy will raise your premiums. You will typically receive services like towing, urgent repairs, and the delivery of gas if you run out of fuel.
Liability Coverage
Between physical damage and liability coverage, liability is probably the more critical coverage to carry. In the worst-case scenario, damage to your yacht or boat would cost you the entire cash value of the ship and any possessions it carried. However, with liability claims, the potential financial losses are almost limitless. One lawsuit from a passenger or another boater could cost you all of your assets, including your retirement savings and your home. Traditional boat insurance liability will cover you against property damage and bodily injury claims. Remember that the right amount of liability protection for you will depend on your assets. If your personal worth is substantial, you will want to select the maximum amount of liability coverage and perhaps also consider purchasing an additional umbrella liability policy.
Other Coverages
Liability and physical damage coverage are the mainstays of boat insurance, but many companies also offer the following optional coverages:
Wreckage removal and disposal – your policy will pay to have your wrecked boat removed from the water and disposed of
Medical payments - your policy will pay for the medical expenses in the event that anyone is injured on your vessel
Uninsured boater - because liability coverage for boats is not legally required, you may be at risk for damages from other boaters who are uninsured. This coverage would pay for injuries and damages caused by an uninsured boater.
Upgrade Your Account | Unlock More Features | SAW.com
We Have Decades of Experience In Digital Asset Acquisitions
Your domain is one of the most mission-critical purchases your business will ever make. Speak with us
about domain brokerage and work with our experts to acquire your desired assets for the best price –
delivered with an end-to-end service.
Budgeting
Brand Protection
Strategy
Appraisals
Acquisition
Transfer & Registration
Market Research
Contract Negotiation
WE’VE SECURED PREMIUM DOMAINS FOR SOME OF THE WORLD’S BIGGEST BRANDS
WHY WE’RE TRUSTED
We’ve Done Half a BILLION Dollars of Domain Deals
Domain Transactions
1,000s
Domain Name Sales
$550M+
Years of Experience
15+
WHAT PEOPLE SAY
Real Success, Real Clients
"When starting a company, the Saw.com broker service team are some of the first people I call. A memorable
name, and the domain and social handles behind it, creates a huge amount of brand equity right out the gate
— no matter how big or how small your company is. From diapers.com to jet.com (and many more to come!) the
Saw.com domain broker team has helped my companies be seen."
MARC LORE
Serial Entrepreneur
"We have worked with Saw.com since their inception and would not work with anyone else. They help us in all
facets of business - from sales and transfers to renewals, SSL issues and any other matters that may arise.
You will not find a better, more trustworthy business that has maximized our profits."
FUTURE MEDIA ARCHITECTS
WHY CHOOSE US?
Nobody Does Domain Deals Better
Deep Experience
Our team is full of domain experts and our CEO, Jeffrey Gabriel, has contributed to $550m in domain transactions including blockbuster sales like the record-breaking $13m for Sex.com.
Intimate Service
We only work with individuals and corporations who we feel can gain the most impact from our services. We're not a high-volume shop, so you never become "a number on the spreadsheet".
Secure Marketplace
Saw.com's global marketplace brings buyers and sellers together for seamless domain transactions. We have more domain data than any other platform, with 250,000+ names listed for sale.
Quality Brokers
Work with our brokers - the brightest minds in the business and stone-cold killers when it comes to buying and selling domains. We speak English, Spanish, Chinese, Russian, and more.
Ready To Give Your Brand a Boost?
Acquire the best domain for your business with Saw.com, one of the world’s leading brokerage firms.
We Have Decades of Experience In Digital Asset Acquisitions
Your domain is one of the most mission-critical purchases your business will ever make. Speak with us
about domain brokerage and work with our experts to acquire your desired assets for the best price –
delivered with an end-to-end service.
Budgeting
Brand Protection
Strategy
Appraisals
Acquisition
Transfer & Registration
Market Research
Contract Negotiation
WE’VE SECURED PREMIUM DOMAINS FOR SOME OF THE WORLD’S BIGGEST BRANDS
WHY WE’RE TRUSTED
We’ve Done Half a BILLION Dollars of Domain Deals
Domain Transactions
1,000s
Domain Name Sales
$550M+
Years of Experience
15+
WHAT PEOPLE SAY
Real Success, Real Clients
"When starting a company, the Saw.com broker service team are some of the first people I call. A memorable
name, and the domain and social handles behind it, creates a huge amount of brand equity right out the gate
— no matter how big or how small your company is. From diapers.com to jet.com (and many more to come!) the
Saw.com domain broker team has helped my companies be seen."
MARC LORE
Serial Entrepreneur
"We have worked with Saw.com since their inception and would not work with anyone else. They help us in all
facets of business - from sales and transfers to renewals, SSL issues and any other matters that may arise.
You will not find a better, more trustworthy business that has maximized our profits."
FUTURE MEDIA ARCHITECTS
WHY CHOOSE US?
Nobody Does Domain Deals Better
Deep Experience
Our team is full of domain experts and our CEO, Jeffrey Gabriel, has contributed to $550m in domain transactions including blockbuster sales like the record-breaking $13m for Sex.com.
Intimate Service
We only work with individuals and corporations who we feel can gain the most impact from our services. We're not a high-volume shop, so you never become "a number on the spreadsheet".
Secure Marketplace
Saw.com's global marketplace brings buyers and sellers together for seamless domain transactions. We have more domain data than any other platform, with 250,000+ names listed for sale.
Quality Brokers
Work with our brokers - the brightest minds in the business and stone-cold killers when it comes to buying and selling domains. We speak English, Spanish, Chinese, Russian, and more.
Ready To Give Your Brand a Boost?
Acquire the best domain for your business with Saw.com, one of the world’s leading brokerage firms.
Do You Need Boat Rental Insurance?
Rental boats are usually insured for liability by the rental company. However, renters may still be liable for damages and boat insurance deductibles in some cases. Read on to find out if you should buy insurance for your boat rental.
