New to the forum, and new to needing boat insurance...
Wife's uncle gave me a good deal on his old boat ('79 Ranger) and we'll be picking it up in a couple of weeks. I have talked to my insurance broker briefly by phone regarding liability when trailering it home (insurance on my tow vehicle will cover anything that may happen there), but my question is in regards to on-water liability.
What coverages are most common? I'm assuming there is something similar to the 100,000/300,000 coverage most would have on an auto, plus any comprehensive coverage that would insure the boat and contents against theft/storm/vandlism etc... Are there any other coverages that are necessary? Does the insurance industry require different insurance for different types of accident/claim (similar to wind damage vs. flood damage vs. earthquake damage on a home)? Is there a difference to the insurance industry if a claim was filed as a result of ejection vs. running someone over, or crashing the boat into a dock or a barely submerged tree stump? Not that I plan on doing any of these things, but if I or anyone in contact with my boat is injured, I want them and the claim to be taken care of.
We had a tornado do a lot of damage to our place last year, and our insurance handled the claims wonderfully, so I'm going to give them the first shot at coverage on this boat, but I want to make sure I'm requesting the right coverage so nothing gets overlooked.
Growing up, Dad had a bass boat we always fished out of, but this is the first one I will own and insure. Thanks for any guidance...
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