When shopping for a pontoon boat insurance policy, there are many facets you want to consider. Because policies can differ greatly, you will want to spend some time finding the best insurance option that fits with how you will be using your pontoon boat. Here is a general list of coverages you should consider:
- medical payments
- on water and roadside towing
- personal property (covers items and equipment not required for boat to function such as fishing equipment and stereos)
- total loss replacement (buys you a new boat if damages exceed the value of boat owned)
- uninsured boater (covers you even if the other boater is not insured and in the event of a hit and run)
- trailer coverage
- wreck removal
Some common reasons for insurance claims on pontoon boats are damage to the boat, personal injury, and theft. Proper care of your boat and safe operation will lessen the odds of finding yourself in a situation where you would need to file a claim for damage. It is worth noting that most policies do not cover corrosion damage. Animals can cause unexpected damage to your pontoon boat. For example, raccoons love to eat through upholstery and wiring.
The cost of insuring your pontoon boat will vary depending on the provider, amount of coverage, price of boat insured, and the chosen method of boat storage (dock vs boat lift) to name a few factors. Pontoon boats are safe, but unfortunately accidents do happen. That is why most states require liability and medical payment insurance on all watercraft. Some states require other coverage as well.