Boat Insurance
Being a stones throw from the Fox River, boating is in our DNA at Briteline Insurance.
What kind of boat / watercraft coverages are available?
Area of Navigation - Know where you are covered while in the water. If you will be harbored in Belmont in Chicago or a local Marina, your rate reflects that risk.
Agreed Value Coverage - Watercraft depreciates just like an automobile. Actual cash value policies can make it difficult to replace a boat that has been stolen or considered a total loss. That’s why at Briteline Insurance we insist on Full Replacement Cost Coverage.
Liability - Like car insurance, personal liability coverage provides coverage to other boaters and boat owners in the event you are found to be at fault for an accident on the water. This coverage will provide coverage for others as well as for their medical care, lost wages, pain and suffering and potentially attorney fees and other costs incurred as a result of a boating accident for which you are found to be at fault.
Medical Payments - Medical payments coverage will pay for the cost of needed care that is the result of a boating accident regardless of whether you are at fault or not. This coverage is available from $250 to $10,000 and covers you, your passengers, and even your water skiers/tubers.
Physical Damage Coverage - Simply put, physical damage coverage pays for the cost to repair or replace your watercraft, motor, any permanently attached equipment, and/or your trailer if it is stolen or damaged.
Uninsured/Underinsured Watercraft Bodily Injury - Since boat insurance is not always mandatory, many boaters choose not to get insurance (which if you have been paying attention ISN’T SMART!) But you have no control over other people so if you are hit by an uninsured or underinsured boater and you are injured, this type of coverage pays for medical treatment, lost wages, and other costs associated with the accident.
Fuel Spill Liability and Wreckage Removal - Should your boat sink or be seriously damaged, there is a chance that it could leak oil or fuel into the water which can result in huge expenses to have cleaned up and you are required by law to have that done.
Personal Property - Your policy can provide coverage for many personal effects, including clothing, cell phones, scuba/snorkeling and other sporting equipment, and fishing equipment. This is important because while this coverage is also available under a property insurance policy, the large deductible and having to file a 2nd claim for a boating loss makes it a bad choice to count on that coverage.
Unattached Equipment Coverage - This pays to repair or replace equipment that isn’t permanently attached to your boat or personal watercraft, but is designed for use primarily on a boat. This includes items like life vests, fire extinguishers, water skis, anchors, oars, tarps, etc.
Emergency Assistance — The Emergency Assistance Package provides coverage for towing, labor and delivery of gas, oil or loaned battery if the watercraft is disabled while on the water. (We see this coverage utilized quite a bit.) Think of it like towing/roadside assistance for your boat.
Here are some things to consider as you consider boat coverage:
How much medical insurance / liability coverage is truly enough?
Do I have coverage if I need to be towed in an emergency?
Am I covered for year-round use?
How much can you afford to pay if you are in an accident, or your boat, or trailer is damaged or stolen?
What discounts and programs are available?
Am I covered at full replacement cost should the boat be considered a total loss?
Why do you need insurance for your boat or personal watercraft?
If you're in an accident or if your watercraft is stolen, it costs money, (often a lot of money) to fix or replace it.
You'll enjoy the water even more when you're not worried about the safety of your investment, your passengers or yourself.
If you or any passengers are injured in an accident, medical expenses can add up to a sizeable amount of money.
Your watercraft also needs protection when it's on land (even in storage) Accidents can happen while towing a watercraft.
If your watercraft is responsible for damages or causes others to become injured, you may be sued for much more than you're worth.