Types of Watercraft Insurance Coverage

If you recently purchased a boat in Chicago, then you are probably currently looking into your insurance options. Depending on the watercraft, there are many different insurance routes you can take. Only by shopping around at different insurance companies and receiving multiple quotes will you find the best watercraft insurance policy for your boat. But before you do all that, here is some information about the kind of coverage options you can expect.


A lot of watercraft owners will buy an “all risk” policy, which, similar to auto insurance policies, covers all the common risks associated with boating. With an “all risk” policy, your insurer will set you up with liability coverage, to help you out with the costs if you damage someone else’s boat. It will also include collision coverage. So, if you run your boat into a rock, your insurer will help pay for the cost to fix it. And finally, comprehensive coverage, which will help repair or replace your boat in the event of a storm like a hurricane or a tornado.


There are specialized types of coverage for boats that you might also want to consider. There is specialized coverage, which will protect specific parts of the boat that you added on after purchasing it, such as an additional prop. There is consequential coverage, which applies to wear and tear issues such as mold and rot. There is also towing coverage, which will cover the cost of having to pull your boat out of the water if it breaks down.


At Insurance Navy in Palos Hills, we provide the best and most affordable watercraft insurance in Illinois. If you just bought a boat or are looking to switch up your policy, the Insurance Navy agents will help you find a low-cost watercraft insurance policy that works for you. To learn more about our cheap watercraft insurance policies, please visit our website at www.insurancenavy.com

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