Who Needs Boat Insurance in Colorado?

If you own a boat or are about to buy one, you can be sure about fun-filled days in the water. But as you bask in the beauty of Colorado waters, you need to think about boat insurance. But who needs boat insurance? While boat insurance isn’t mandatory in Colorado, your lender might require you to purchase a basic boat insurance policy until you pay off your outstanding loan. 

However, it’s not only those whose boat is loan-financed who need boat insurance — every boater needs boat insurance from Compass Insurance of Centennial, CO, regardless of the season or the type of boat. 

Why do you need boat insurance?

Then, if everyone needs boat insurance, how does it benefit me? We are glad you asked. Investing in boat insurance yields the below advantages.

Liability protection

While boating accidents aren’t as common as auto accidents, they can still occur. And when they do, you might be held responsible for bodily injury and property damage you cause to others. And since these costs can be expensive, you need boat insurance to bail you out.

Peace of mind

A time in the water should be worry-free. But how can you be relaxed without boat insurance? Watercraft insurance ensures that your time in the water is hassle-free — you don’t have to think about water accidents as they are taken care of by your coverage.

Asset protection

Whether you own a sailing boat, fishing boat, or personal watercraft, it has cost you money. And just like any other investment, you would want to protect it from risks like fire, theft, and so on. Thankfully, comprehensive and collision coverages of your boat insurance repair or replaces your boat following an accident. 

Buy boat insurance today!

As you enjoy Colorado waters, you need boat insurance to sail with you. If you are in Centennial, CO and its environs, don’t hesitate to contact Compass Insurance for an affordable quote.