Things You May Need to Know About Insuring Your Boat in Colorado

Are you a boat owner in Centennial or the metro-Denver area? Then you may already be aware that the state of Colorado does not require you to purchase boat insurance. Still, it is a good idea to insure your boat against costly damages. If you are undecided on purchasing coverage for your boat or are deciding between coverage plans, here are a few things you should know.

1. Your Homeowners Insurance Won’t Provide Enough Coverage

If you own a home in Centennial or in the metro-Denver area, you may believe that your homeowner’s insurance will cover your boat. This may be the case if you have a very small boat. However, if your boat is larger and has an engine, it is likely to fall outside of your homeowner’s insurance plan.

2. Liability Protection is the Top Benefit of Coverage

Even if you never get in an accident, you could be liable for injuries that take place on your boat. A typical boat insurance plan includes bodily injury coverage that covers medical and legal expenses that arise from accidents.

3. Basic Coverage May Not Meet Your Needs

As in the case of automobile insurance, sticking to minimum levels of coverage might not cover all of the situations you can encounter on your boat. If you are hit by an uninsured boater, you may need uninsured boater insurance to cover the damages. If your boat is damaged by vandals or in a fire or flood, you may need comprehensive coverage.

The best way to determine what level of coverage will protect your boat is to consult with an independent agent. Our independent agents are familiar with various types of boat insurance and can help you compare between insurance providers for the best rates.