Boat/Watercraft Insurance in Michigan
Should You Have Boat Insurance in Michigan?
The law in the state says that all motorized boats and watercraft, which includes jet skis and Sea-Doo’s, need to be registered but you don’t have to have insurance. The exception can be when you are paying off a boat loan. If you crash the boat when still paying off the loan, then the bank will still get the money. Boat insurance may not be mandatory in Williamston, MI but can still come with many different benefits.
How Much Boat Insurance Do You Need?
How much insurance you need will depend on the boat’s motor size, value, and how it’s being utilized. For example, if you have a new performance speedboat then you will want more insurance for property damage and bodily injury liability. For many cases, you should have at least $1,000,000 and more for performance crafts. Collision and comprehensive amounts should be based on the value of your boat. An agent at CG Insurance Agency can help you determine how much boat insurance you should have.
Benefits of Boat Insurance in Michigan
One of the main benefits of boat insurance in Williamston, MI is that coverage is flexible. There are plenty of different items you can get coverage for. Liability coverage will protect you from medical bills and property damage for other boaters, should you get into an accident. Uninsured boater coverage will help you if you get into an accident with someone that doesn’t have insurance, which can be common since it’s not required. Emergency assistance and towing can cover if your boat breaks down miles offshore. If your own boat is damaged, this can be an expensive financial hit. You can have coverage that protects the cost of your boat, whether you get in an accident or it’s damaged by vandalism or fire. Since your boat is an investment you want to make sure it’s protected.
Contact CG Insurance Agency to get a quote on boat insurance.