Why Boat Insurance is a Must

With boating and watercraft activities on the rise and more people flocking to the waterways to have fun, boat insurance is now important than ever before. Even though Arizona doesn’t require that boat owners carry insurance, it is still considered a best practice by many in the industry. Just as your home or car is an expensive purchase that you carry insurance on, so too is your boat. Failing to have insurance leaves you liable for a slew of potential damages to include being responsible for a third party’s injuries and medical payments if you are found at fault in an accident.

Additionally, if you are involved in an accident with another boat and neither party carries insurance then you are both on the hook for the total cost of the damages. However, if the other party is deemed at fault and you carry underinsured or uninsured coverage on your boat insurance policy then you won’t be responsible. Many boat owners have the false misconception that their homeowner’s insurance policy will cover their watercraft so you’ll want to have a separate policy for it. Although boat insurance is not required in Arizona, no one under the age of 12 is allowed to operate a vessel at greater than 8 MPH unless in an emergency situation.

If you are still on the fence about whether you need boat insurance or just want a second eye to review your existing policy, INW Insurance Solutions in Mesa, AZ can help. Our talented team of insurance experts will take the time to learn about your needs and customize a boat insurance policy that protects your financial interests and watercraft. Contact our office today for more information and we look forward to working with you!