Although boat insurance is not required for boat owners in Baraboo, WI, there are situations when coverage is required. This is the case when a boat is financed and the lender requires coverage, so the investment is secure. But what about boats owned free and clear? If the state doesn’t require insurance, then why get it? When you speak with one of our agents at Johnsen Insurance, we will go over the advantages of having boat/watercraft insurance.
Benefits of Boat Insurance
Buying a boat is a big investment, and one you expect to provide entertainment for a long time. Like any financial investment, maintenance and upkeep are important to keep the investment in top condition. This includes having insurance for unexpected incidents. Without adequate coverage, it will be up to you to cover all costs out-of-pocket, which can significantly impact your finances.
But if you have insurance, you’ll be covered if your boat is damaged due to an accident, theft, severe weather, or vandalism. Your insurance will also step in if your boat is involved in a situation that leaves it a total loss.
If you cause an accident with another boater, you may be liable for the damage incurred by the other person’s property. You may also be liable for the medical bills for the other person or people involved in the accident. There is also the possibility of a lawsuit being filed against you. With liability coverage, you’ll have help with legal fees.
Another thing to consider is that without insurance, you may not be able to dock at local marinas that require liability coverage.
Contact Our Team
At Johnsen Insurance, our team will help keep your boat afloat in Baraboo, WI, with the right policy that provides the coverage you need.
