Boaters residing in Canby, OR are not required by law to carry boating insurance on anything that is considered to be a pleasure boat, and this includes motorboats or sailboats that are used for personal use or even for racing. Your bank will usually stipulate that your boat must be covered until it is paid off, and boat insurance is a good investment that many people choose to make even if they do not currently owe money on their craft.
What Does Boat Insurance Do?
Boat insurance helps provide financial protection against the losses or damages that can occur to your boat. This generally does not include personal watercraft, or jet skis, canoes, or kayaks but will include vessels used for fishing, pontoon boats, leisure crafts, and yachts. A separate policy will be needed for a personal watercraft, and your homeowner’s insurance will likely provide a limited amount of coverage for a smaller craft like canoes.
You can purchase collision damage protection that will help cover costs related to replacing and repairing your boat after a wreck, and property damage liability indemnification helps take care of expenses related to other people’s property that you damage with your boat. Bodily injury coverage helps pay for medical bills and lawsuits pertaining to injuries sustained because of your boat, and comprehensive coverage is for scenarios where your boat is stolen, vandalized, or hurt in situations other than an accident. You can also purchase underinsured or uninsured boat insurance to provide coverage when in an accident with someone who has no or insufficient insurance.
Oliver Insurance Can Assist You
Oliver Insurance has been faithfully serving the community in Canby, OR, providing them with quality insurance to meet their specifications. We welcome you to stop in or call us to schedule an appointment, and we will be happy to find an insurance package to meet all your boat insurance needs.
