In Post Falls, ID, no law states boat owners must have boat insurance. However, it is wise to look into whether the boat is on or off the water. The point of getting insurance is to handle the cost of replacements or repairs in the event of accidents or damaging misfortunes.
Boats are not cheap and are a prize possession for their owners. Companies like Infinity Insurance Group can create policies to protect those prized possessions. The underwriters can specify scenarios that favor boats on and off the water.
Protection for Boats On the Water
On the water, the Coast Guard reported over 4,000 boating accidents in 2022. Since it is optional for boat owners in Idaho to have boat insurance, all damages from accidents are at the owners’ expense if they do not have it.
Some companies that finance boats may require the owners to get insurance to protect the collateral. Having boat insurance can cover the owner from most out-of-pocket costs in an on-the-water accident.
Protection for Boats Off the Water
Things can become tricky when it comes to off-the-water damage to a boat. If the boat sits idle on the owner’s property, the property insurance may or may not cover damages. The same applies to the boat attached to the trailers on the vehicles if an accident occurs. There is only one positive answer if damage occurs to a boat off the water: to check with the insurance company policy.
Infinity Insurance Group Can Help
Every situation is different and requires inquiries into the details of coverage. Never assume a situation that is covered. The only sure way to know is to speak with us at Infinity Insurance Group, serving the Post Falls, ID area. Call us today and find out more information.