While spending a day on the open water is relaxing and full of fun, a boating accident can be a serious situation. In addition to the safety of all the passengers involved, there are also concerns with the damage to the boat and the ability to make it safely back to the marina. A level head and OC boat insurance are the two things to have if you find yourself dealing with boat damage.

What Does Boat Insurance Cover?

Boat insurance covers a variety of water-based vessels, such as yachts, sailboats, or motorboats. Much like an auto insurance policy, watercraft policies will help with the financial costs related to the theft of the vessel or damage to the craft from certain weather elements or collisions. The policy may also be written to protect you from personal liability if another party is injured or property is damaged while you operate the boat. The general term “boat” can be broken down into coverage for the following parts:

• Fittings
• Hull
• Furnishings
• Permanently attached equipment
• Machinery

The policies are written to pay for replacement or repair during covered situations, and most often, the policies are inclusive of damage that occurs both on and off the water. Policies can also be written according to an agreed amount of coverage or against an actual cash value coverage. However, covering your boat on an actual cash value basis takes into account depreciation.

What Should I Do If I Have Boat Damage?

If you find yourself in a position where the boat is taking on water, or you have been in a collision with your vessel, staying calm and following these recommendations can help ensure the safety of anyone involved and salvage your boat.

Check for Injuries

After getting into an accident or if boat damage occurs, immediately assess any passengers for personal injury. While doing so, make sure each person is wearing a life jacket in the event that you must abandon the ship. Always check your local and state requirements for lifejacket mandates, as these save lives. Call for medical help if someone is injured.

Notify the Authorities

Just as you would report a car accident, call the local authorities or the U.S. Coast Guard to notify them of the incident and damage. An investigation will be conducted, but not all incidents are required to be reported. Check your state ordinances for more information.

Contact Your Insurance Company

Though you will want to secure your boat as soon as possible in order to avoid total loss or additional damage, you should contact your insurance company soon after. Your agent will help you outline the next steps to be taken, as well as the documentation needed for filing a claim to repair or replace the vessel.

Don’t let boat damage keep you from the hobby you enjoy. Follow these steps and work with your insurance company to get the damage fixed so you can get back out on the water.

About Mariners Insurance 

Mariners General Insurance Group was founded in 1959 to protect boat owners and marine business clients. We are marine insurance experts and insure boats worldwide – in every ocean on the planet. Marine insurance is critical if you own a boat or nautical business. Trust the professionals with all of your Boat Insurance needs – trust Mariners Insurance. Call us at (888) 402-5018 any time you have questions or concerns about insurance for your vessel or marine business.