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Boat & PWC Coverage Explained
The Risks of Owning a Boat
Owning a boat carries many of the same risks as owning an automobile. You could be held accountable for:
- bodily injury property damage as a result of an accident
- be injured by an uninsured operator
- lose valuable property because of a hurricane, fire or other peril
Lighthouse Insurance can help protect you from serious financial losses such as:
- bodily injury to you, your family, and others
- damage to others' property
- water skiing liability
- lawsuits
- collision
- sinking
- running aground
- striking submerged objects
- theft
- fire
- smoke
- vandalism
- windstorm
Necessary Protection
To make sure you, your family and your boat/watercraft are adequately covered, Lighthouse's watercraft policy offers seven different coverages:
- protection and indemnity coverage
- excess medical payments
- uninsured boater
- hull and equipment protection
- trailer coverage towing and disablement
- additional endorsements
You can tailor your policy to best suit your needs simply by selecting one of these categories. Some coverages are contingent upon the purchase of other coverages.
Liability Protection
Protection and Indemnity Coverage
- protects you and covered persons for bodily injury and property damage when you injure other people in a boating accident, or damage other people's property
- covers costs associated with legal defense and wreck removal
Remember, when making major purchases, add them to your inventory and check with your insurer. You may need to increase your coverage levels. Most policies underwritten by companies that Lighthouse represents provide 70 percent coverage, rather than 50 percent.
Lighthouse Insurance automatically provides Excess Medical Payments Coverage at no additional cost when protection and indemnity coverage is purchased. This coverage protects you, your family members, and guests using or occupying your boat from excess medical expenses, i.e., those not paid or payable under other insurance.
Uninsured Boater Coverage
- similar to uninsured motorist coverage for automobiles
- not offered by many other insurance carriers, Lighthouse's policy protects you with coverage for bodily injury losses when you are struck by someone who "hits and runs"
- has no insurance or has insurance, but their company refuses to pay, or cannot pay due to insolvency
Physical Damage Coverage
- protects you against damage to your watercraft, the motor, furnishings, and equipment
- covers salvage charges and reasonable towing charges incurred while moving your damaged boat to a repair site
Trailer Coverage
- provides for direct physical loss of a trailer listed on your policy
Towing and Disablement Coverage
- A Lighthouse exclusive not available through all watercraft insurers
- protection for towing - land or water
- delivery of gas
- trailer coverage
- emergency repair work while away from a safe harbor
- trailer road service
Additional Endorsements
To further meet your boating insurance needs, you may choose to add valuable endorsements to your policy.
Personal Effects Coverage
- protects personal property such as sports and fishing equipment, clothing, etc., under a named peril basis
Permission to Charter Coverage
- protects you if you hire someone to operate your boat
- rent or lease your boat for money or any type of consideration
Should you have any additional questions about Lighthouse's Homeowners insurance coverage, please don't hesitate to contact your local Lighthouse representative today at 1-888-399-0300. Get the quote you need in the time you need it.
"Please refer to your policy declarations page as special terms, conditions And exclusions may apply."