Why You Need Insurance for Your Boat in Oklahoma

You will enjoy the water more if you aren’t worried about your investment, your passengers, or your safety. If you are in an accident or your boat is stolen, then it will likely cost a lot of money to replace or fix it. If passengers are injured, then these medical costs can be expensive. If your boat is responsible for damages or injuries to others, then you could be sued for more than you have. You also want to insure your boat on land since accidents can happen when you tow a watercraft.

Things to Consider with Boat Insurance in Oklahoma

When shopping for insurance with an agent at Steiner Insurance Group in Norman, OK, there are some things to keep in mind.

• Navigational Area: You should know where your policy covers you in the water.
• Agreed Value Coverage: Your boat will depreciate, just like your car. An actual cash value policy can make it harder to replace a boat that has been destroyed. If you choose this type of coverage, then you can get the value you insure it for.

What Does Boat Insurance Cover?

Boat insurance can cover a wide variety of things.

• Liability: Personal liability coverage will give protection to other boat owners or boaters in the event you are found at fault for an accident. The coverage pays for replacing or repairing the property, as well as lost wages and medical care.
• Medical Payments: This coverage helps you and your passengers if you need medical care due to a boating accident, regardless of who is at fault.
• Physical Damage Coverage: This pays to replace your boat and any permanently attached equipment if it is damaged or stolen.
• Fuel Spill Liability: Should your boat sink and leak fuel, then it’s your responsibility to pay for it. This insurance helps with those costs.
• Uninsured Coverage: Some boaters choose not to get insurance, which is why this coverage pays for your lost wages, medical treatments, and other costs from an accident with a boater without insurance.

Contact Steiner Insurance Group in Norman, OK to get a quote on boat insurance.