If you own a boat, it’s important to have the right insurance in place in case of an accident. However, there are a lot of myths surrounding watercraft insurance that can make it difficult to understand what coverage you need. The Pivotal Insurance Agency LLC in Louisa, VA can help dispel some of the most common myths and get you the coverage to protect your investment.
5 Myths About Watercraft Insurance
Myth 1: Watercraft Insurance Is Expensive
One of the most common myths about watercraft insurance is that it’s expensive. While the cost of coverage will vary depending on several factors, such as the type of boat you have and the amount of coverage you need, the cost of not being insured can be much higher. If you’re involved in an accident and don’t have insurance, you could be responsible for paying for the damages out of pocket.
Myth 2: Watercraft Insurance Is Only for Accidents
Another common myth about watercraft insurance is that it’s only for accidents. While it’s true that insurance can help protect you financially if you’re involved in an accident, it can also provide coverage for other types of incidents, such as theft, fire, or weather damage.
Myth 3: All Watercraft Insurance Policies Are the Same
There are various types of watercraft insurance policies available, and each one offers different coverage options. It’s important to compare policies and find one that meets your specific needs.
Myth 4: You Don’t Need Watercraft Insurance If You’re Not Financing Your Boat
Regardless of whether or not you’re financing your boat, it’s important to have insurance. If you’re involved in an accident and don’t have insurance, you could be responsible for paying for the damages out of pocket.
Myth 5: Your Homeowner’s Insurance Policy Will Cover Your Boat
While some homeowner’s insurance policies provide watercraft coverage, it’s typically limited to a certain dollar amount. If you have a boat, it’s important to have a separate watercraft insurance policy to ensure you’re fully protected.
Now that you know the truth about watercraft insurance, it’s time to get the coverage you need to protect your investment. The Pivotal Insurance Agency LLC in Louisa, VA can help you find the right coverage for your needs. Call us today for a free quote.