IMT Insurance

It doesnt get any better than spending the day on your boat with family and friends, whether you are fishing, water skiing, or just cruising around the lake. In order to relax and truly enjoy any boating experience, you must first make sure you have the proper insurance protection. You may think you are completely covered because you have home and... auto insurance, but you may be wrong! The type of watercraft you own will determine the type of coverage you need. There are two main types of coverage for your watercraft: liability coverage and physical damage coverage. Lets explore these two types in further detail: Liability Coverage - Pays others, up to the policy limits, for the damages and injuries you cause in a boating accident. If you have a homeowners policy, that will provide you liability for canoes and other similar non-motorized boats, sailboats less than 26 feet in length, and boats powered by outboard motors. However, if you own an inboard or an inboard-outdrive motor boat, including personal watercraft, some companies will require you to purchase a separate liability policy. If you own a personal watercraft, which is a vessel designed to be operated while sitting, standing or kneeling on it rather than within the confines of a hull, you will need to purchase liability coverage with a boatowners policy. A common example of a personal watercraft is a Jet Ski. Physical Damage Coverage - Reimburses you for damage to your boat, motor, trailer, and miscellaneous boating equipment after subtracting your deductible. A standard homeowners policy will generally limit the amount of physical damage coverage for a boat, motor, trailer and boating equipment to $1,500. There are also restrictions of coverage caused by theft, wind, and hail. As a result of these limitations, physical damage for boats of almost any value are best covered with a boatowners policy. Additional coverages you may consider purchasing for your watercraft include: Medical Payments Coverage - Pays for the cost of medical care you received ...Read More