At Luft Insurance Agency in Escanaba, MI, we understand that buying boat insurance can be a confusing and overwhelming process, especially for first-time boat owners. That’s why we want to provide a beginner’s guide to boat insurance to help make the process as straightforward as possible.

First and foremost, it’s essential to understand that boat insurance is not mandatory by law, but it is highly recommended. A boat is a significant investment, and without insurance, you could be held financially responsible for any damages or injuries resulting from an accident involving your boat.

When looking for boat insurance, there are several types of coverage available. Liability coverage is the most basic type of coverage. It protects you from financial loss if you’re found liable for damages or injuries to another person or their property. On the other hand, physical damage coverage protects your boat from damage. This coverage typically includes collision and comprehensive coverage. Comprehensive coverage protects your boat from non-collision damages such as theft, fire, and natural disasters.

Additionally, you may want to consider coverage for personal property on board your boat, such as fishing equipment and electronics. Some insurance companies also offer coverage for specialized needs such as towing and assistance in case of breakdown or other on-water issues.

When selecting an insurance company, working with a reputable provider with experience insuring boats is important. At Luft Insurance Agency, our experienced team of insurance professionals will work with you to understand your specific needs and help you choose a policy that is right for you.

In short, boat insurance is an essential consideration for any boat owner. It can protect against financial loss and give you peace of mind while on the water.