Home insurance covers a broad spectrum of personal items, including theft, vandalism, and weather-induced damage. You could assume boats and other personal watercrafts would be covered under homeowners insurance, but in this case, the coverage works differently. Homeowners insurance provides coverage based on how the damage occurred and the particulars of the watercraft itself.
When Does Homeowners Insurance Cover Boats and Watercrafts?
You’re covered if your boat or watercraft is stolen or is damaged as a result of:
- Fire
- Vandalism
- Explosions
- Falling objects
- Wind
- Hail
The caveat is that you’re only reimbursed $1,000, which could be a fraction of what you paid for your watercraft. It may not be worthwhile to file a claim if you haven’t met your deductible yet. If so, you may just be paying a deductible without any reimbursement.
Also, your watercraft is only covered for hail damage if it’s enclosed in a garage or other form of shelter. If it’s hail, it must be severe enough to break through the roof or glass window before battering your watercraft.
However, if you have other personal items like portable stereos, your home insurance will cover them. On the other hand, your boat’s built-in features will not get full coverage.
How Can Home Insurance Liability Coverage Apply To Boats And Watercrafts?
Boats and watercrafts have greater coverage from the liability facet of home insurance. If you have a collision with another boat, you get up to $100,000 in coverage. This is typically for instances where you damage someone else’s property or boat or if you cause injury to someone else. Home insurance will cover associated costs with damage and legal expenses plus restitution if you injured someone else.
However, this too comes with limitations. Liability coverage only applies to watercrafts of a specific size and horsepower. Sailboats, for example, are only covered if they’re less than 26 feet in length. Outboard boats have to have a horsepower of under 25.
Some watercrafts aren’t protected by liability coverage at all – jetskis and airboats are primary examples.
How Can I Get Better Coverage?
You don’t have to rely on home insurance alone for your boat coverage. You also have the option of enrolling in boat insurance, which has the kind of coverage you’d want as a watercraft owner.
With watercraft and boat insurance, you can get reimbursed for the entire cost of the boat itself – not just $1,000. This includes built-in items as well. The trailers and anchors that may come with your watercraft are covered, too.
It also has liability features absent from home insurance – namely, protection against uninsured boaters. Your coverage won’t place limits on your watercraft’s size, either.
Contact Us Today For More Information!
Look no further than Remco Insurance Services. We will find you coverage that will protect your living space, personal possessions, and boating equipment so that you can be spared the costs of starting anew. You’ll get expert help when you call us today at (215) 357-7878 or text (267) 692-8296 to learn more.
