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Watercraft / Boat

Protect your boat and your crew. Specialized protection for your cruising itinerary.

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    Bluewater Insurance Coverage

    Watercraft / Boat Insurance

    Whether you own a sailboat, luxury yacht or something in between, our comprehensive Watercraft policy can accommodate a wide variety of cruising itineraries.

    Get A Boat Insurance Policy To Protect Your Investment.

    Boats and water vessels are as unique as the people who own them. There are a full-range of coverage options for personal boating as well as water-related commercial policies. Vessels we insure include

    • Yachts and other recreational cruisers
    • Sailboats
    • Fishing boats
    • Speedboats
    • Jet Ski® and other personal watercraft

    As a full-service insurance agency, we also offer commercial insurance policies for

    • Commercial fishing operations
    • Marinas

    Types of Watercraft / Boat Insurance

    There are two basic types of boat insurance—“agreed value” and “actual cash value.” How depreciation is handled is what sets them apart.

    • An “agreed value” policy covers the boat based on its value when the policy was written. While it can cost more up front, there is no depreciation for a total loss of the boat (some partial losses may be depreciated).
    • “Actual cash value” policies cost less up front, but factor in depreciation. In other word, the policy will only pay up to the actual cash value of the boat at the time it is declared a total or partial loss. Eventually, as your boat ages, your insurer will likely insist on an actual cash value policy—and if often gives a substantial savings.

    Questions? You’re covered.

    How and where you boat determines the type of coverage you need. An “all risk” policy will offer the best protection. However, an “all risk” policy does not cover every type of loss. In insurance terms “all risk” just means that any risk not specifically omitted in the policy is covered. Typical exclusions include wear and tear, marring, denting, animal damage, manufacturers’ defects, design defects, ice and freezing.

    You may also be able to add extra coverage. Available options may include: medical payments, personal effects, uninsured boaters liability, and towing and assistance. Most policies will cover permanently attached equipment, as well as items like anchors, oars, trolling motors, tools, seat cushions, and life jackets. Be sure to discuss these options with your agent.

    It is best to have what is known as an “All Risk” policy, which will provide coverage for all types of losses except those specifically excluded in the policy. Typical exclusions may include wear and tear, gradual deterioration, marring, denting, scratching, animal damage, manufacturer’s defects, defects in design, and ice and freezing.

    Comprehensive coverage protects against damage to your watercraft from incidents out of your control, including theft.