When you buy a boat insurance policy, you’re usually buying a package of different coverages. While liability coverage protects you from damage you cause to others, physical damage coverage protects your own boat. This physical damage protection is often split into two parts:
Collision Coverage: Pays for repairs to your boat if it’s damaged in a collision with another boat or object (like a dock or submerged rock).
Comprehensive Coverage: This is the part of the policy that protects you from non-collision incidents. It covers a wide range of perils, including theft of the boat itself, vandalism, fire, storm damage, flooding, and damage from falling objects.
If your boat is stolen or vandalized, your comprehensive coverage is what you’ll rely on to help pay for the loss.
What Exactly Is Covered?
Assuming you have a comprehensive policy, here’s a breakdown of what is typically covered and what might require extra protection:
Covered by Standard Comprehensive:
Theft of the Entire Boat: If someone steals your boat and trailer, your policy will help cover the loss up to the value stated in your policy (either “Agreed Value” or “Actual Cash Value”).
Theft of Attached Equipment: This includes items permanently attached or bolted to your boat, such as a GPS unit, fish finder, trolling motor, or expensive propellers.
Vandalism: This covers acts of malicious mischief. If someone slashes your boat seats, spray-paints the hull, breaks a window, or cuts your mooring lines, the repair costs would be covered.
May Require Separate Coverage:
Personal Effects: Items that are not attached to the boat are usually not covered by a standard policy. This includes things like fishing gear, water skis, coolers, towels, and cell phones. To protect these items, you need to add a separate Personal Effects Coverage endorsement to your policy.
Steps to Take After Theft or Vandalism
Discovering your boat has been targeted by criminals is stressful. Following these steps can help make the claims process smoother.
File a Police Report Immediately: Your first call should be to the local police. Insurance companies will not process a theft or vandalism claim without an official police report.
Document the Scene: Take clear photos and videos of any damage from multiple angles. Make a detailed list of every item that was stolen or damaged.
Protect from Further Damage: If a window was broken, cover the opening with a tarp to prevent rain damage. Do what is reasonable to secure the boat.
Contact Your Insurance Agent: Report the incident to your insurance agent as soon as possible. Provide them with your police report number and the documentation you’ve gathered.
Protecting Your Investment with Boyd Insurance Brokerage Inc.
The best claim is one that never has to be filed. If you are worried about protecting your boat from theft and vandalism in the Spokane area, it’s crucial to have the right insurance policy in place before something happens. At Boyd Insurance Brokerage Inc., we can help you build a boat insurance policy that fits your needs.
We will ensure your policy includes comprehensive and personal effects coverage so your boat and your gear are protected. We have the ability to search for policies from top-rated carriers like Progressive, Travelers, and Nationwide to find the best value for you.
To get a quote for comprehensive boat insurance, call us today at 509-340-2693.
