A survey by one insurer found that 29 percent of all boat owners did not have a separate watercraft insurance policy. This could be a mistake. Many boat owners mistakenly think their homeowners or personal auto policy will provide coverage; however, the standard homeowners policy limits property damage coverage for boats to $1,500—far less than...
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If You Have a Boat Do You Need Boat Insurance?
What’s the difference between a boat and a yacht*? If you know the answer, you probably need more coverage than just the standard homeowners policy can provide. Boating is a great family activity, but it does involve risks: in 2008 (the last year for which complete data were available at press time), the Coast Guard...
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