One of the best ways to spend a nice summer day in Canby, OR is on your very own boat in one of the many nearby lakes and waterways. When you own a boat, it is very important that you keep it properly protected. One of the best ways to do this is by purchasing boat insurance. While it is not necessarily required by law, there are still several situations in which you may need to have boat insurance.
Boat Loan
The first situation in which you will want to have boat insurance is if you have a boat loan. When you take out a boat loan, the lender will want to make sure that they are covered in the event the boat is stolen or damaged. Because of this, your boat loan agreement will require that you carry both insurance as long as the loan is outstanding.
Local Requirements
The state of Oregon does not necessarily require that you carry boat insurance when you operate a boat. However, there are a number of local lakes and marinas that have specific requirements in place to make sure that you are covered by insurance. Generally speaking, these lights will require that you at least have some level of liability insurance coverage that will protect other people on the lake if you are at fault in an accident.
If you are a boat owner in the Canby, OR area, you should speak with Oliver Insurance to better understand your boat insurance needs. One of the main advantages of consulting with Oliver Insurance is that they will be able to review your particular situation and explain to you what type of boat insurance you should have. This will help to ensure that you have the appropriate level of coverage at all times.
