A Short Guide To Watercraft Umbrella Insurance

When planning a day on the water, the last thing you want to think about is the possibility of an accident. Unfortunately, they do occur and it is important to be prepared for the worst-case scenario.

While you may be aware that it is important to have boat insurance before heading out on the water, you may not be aware that sometimes, a standard boat insurance policy may not be enough to prevent you from paying some costs out of pocket. If a catastrophic accident occurs and there is extensive property damage or a severe injury, the associated costs may be higher than your boat insurance policy’s limit. This is where watercraft umbrella insurance can come in to help.

What Is Watercraft Umbrella Insurance?

Watercraft umbrella insurance is a type of insurance coverage that offers substantially increased limits for your boat. It is designed to cover any costs that exceed the limits of your standard boat insurance.

How Much Does Watercraft Umbrella Insurance Cost?

Unfortunately, it is difficult to give a set price for watercraft umbrella insurance. The cost of this type of insurance can vary widely and is impacted by a number of factors. Some of these factors are:

  • Your location
  • Your claim history
  • The size and value of your boat(s)

Sometimes, standard boat insurance policies don’t offer all the coverage you need. A good watercraft umbrella insurance policy can make sure you are covered in even the worst-case scenario.