Insuring Different Types of Watercraft in Colorado: From Jet Skis to Yachts

Having a vessel to take out on the water can offer you amazing times and travel opportunities. However, even in landlocked Colorado, rivers, lakes and rapids can present significant risk levels. This means that nautical navigators must be diligent and thorough when assessing and addressing potential perils and exposures. Fortunately, there are many ways you can financially protect yourself with ideal insurance solutions.

What Types of Insurance Can I Get for Watercraft?

Watercraft insurance, more commonly known as boat insurance, can provide a versatile and robust financial shield against losses and damages involving your vessel. Boat insurance can typically be purchased and customized to suit a variety of watercraft, including the following:

• Sailboats
• Motorboats
• Fishing boats
• Pontoons
• Jet skis

Insurance companies may sometimes offer or even require specialized coverage for certain vessels. For example, yacht insurance may be needed for such watercraft, as the enhanced coverage of these policies can often suit their greater size and value and subsequent risk levels.

What Should My Insurance Cover?

Boat insurance, yacht insurance and other policies can often be outfitted with various features and coverages, including the following:

• Third-party liability coverage may help offset other parties’ losses for which you are at fault.
• Physical damage coverage may cover damage sustained by the hull of your vessel, as well as engines and onboard equipment.
• Medical payments coverage may cover health care costs incurred by you and your passengers due to incidents on the water.
• Contents coverage may cover losses involving belongings being stored or transported on your watercraft.
• Uninsured/underinsured watercraft coverage may offer assistance if an at-fault boater lacks the insurance to pay for your losses.
• Emergency assistance coverage may help cover towing and other breakdown-related costs.

Learn More

Contact McDonald Insurance Group today to learn more about coverage options for your watercraft or to compare personalized quotes.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.