If you are a boat owner, you need to have boat insurance to protect yourself and your watercraft. It isn’t required by law in Colorado to have boat insurance, but it’s smart to always have it in place. If you don’t have boat insurance for protection, you could face financial ruin in the event of a boat accident. If you’re in need of boat insurance, call us at Pikes Peak Insurance Agency in Falcon, CO.
You might not think too much about boating accidents, but they can and do happen. It’s important to be prepared in case such an accident happens to you. There are different forms of boat coverage that pay out depending on who caused the accident. One of the most important types of coverage to get is liability. If you were to cause a boating accident, you would be responsible for paying for the repairs the other party needs as well as their medical bills from the resulting injuries. You need to have both bodily injury liability coverage and property damage liability coverage. These are the bare minimum that every boater should have. Without them, they would be stuck paying for all of those bills out of pocket.
Other Coverage Types
You can also get comprehensive coverage that covers your boat against damage and other risks that exist when the boat isn’t in the water. There is also collision coverage. This pays for the damage to your own boat that happens in an accident. In addition, you can get coverage for your personal belongings and equipment that are in the boat and get ruined. It’s a good idea to have all of these coverage types so that you have peace of mind and protection against financial risks.
Get Boat Insurance
To get your boat policy, call us at Pikes Peak Insurance Agency in Falcon, CO.
Buying a boat is exciting, and you want to protect it. From that perspective, the logical question arises—do I need boat insurance if I only use it on private property near Falcon, CO?
Our team of insurance experts at Pikes Peak Insurance Agency is here to explain the different types of boat insurance coverage options.
Types of Coverage
Boat insurance has several components, some of which are required by law and others are at your discretion. One type of coverage is boat liability insurance, which covers bodily injury or property damage caused by your vessel. This includes medical payments for injuries sustained on or even near your boat. In most states, liability coverage is mandatory if you take your boat out in public waters.
Another type of boat insurance is collision coverage, which pays for damage done to your own vessel due to an accident with another boat or object. Collision coverage is usually optional but provides the most comprehensive protection against expensive repair bills. If you choose collision coverage, keep in mind that a deductible may be associated with filing a claim.
Finally, comprehensive coverage pays for non-collision-related incidents such as theft or vandalism of your boat and its equipment. Comprehensive coverage also pays for damages caused by natural disasters such as hurricanes and floods. Comprehensive coverage often comes with a higher premium than other types of boat insurance but can help protect you from unexpected losses in the event of unforeseen circumstances.
Give Us A Call
If you plan to use your boat exclusively on private property around Falcon, CO you may not need full-coverage boat insurance, but we highly recommend it. Contact Pikes Peak Insurance Agency to find the right policy for your needs.
If you have a boat in Falcon, CO, you may want the best insurance policy to protect your prized asset when the unthinkable occurs. But because you don’t understand the nitty-gritty of boat insurance, you may not get the best deal out there. Luckily, Pikes Peak Insurance Agency is here to help you navigate the boat insurance policy to help you get optimal protection.
Do you want to invest in boat insurance? Here is what you need to know about this coverage.
Is boat insurance mandatory?
No Colorado law requires you to invest in boat insurance. However, if a federally regulated lender finances your boat, they may insist you invest in boat insurance. But whether boat insurance is mandatory or not, every boater should invest in this coverage.
What does boat insurance cover?
Boat insurance is a worthwhile coverage that covers numerous areas. Some include:
- Asset protection: Boat insurance compensates you for repairs or replacing your boat when damaged or lost because of a covered peril.
- Liability protection: Watercraft insurance protects you when others accuse you of bodily injury and property damage. It also covers you when sued.
- Medical payments: This coverage can cover medical bills for you and your passengers when involved in an accident.
- Uninsured boater coverage: Since boat insurance isn’t mandatory in Colorado, you will encounter many uninsured boaters. Invest in uninsured boater coverage for peace of mind to ensure you aren’t exposed when you collide with boaters without insurance.
How much boat insurance do I need?
Invest in boat insurance that can cover the entire cost of your boat when totaled or stolen. This means you will incur little out-of-pocket expenses, lessening your financial burden.
Boat insurance in Falcon, CO
Need to learn more about boat insurance? Why don’t you contact Pikes Peak Insurance Agency for more information? You can also pop into our Falcon, CO offices to speak to one of our agents.
Does your boat insurance policy provide all of the protection you need? Let the team at Pikes Peak Insurance Agency help you answer this important question! We are proud to offer the greater Falcon, CO community the insurance services they need to protect themselves and their possessions. Boat owners know how much having a vessel can improve their quality of life. You can also increase your peace of mind by carrying the right insurance protection for your needs.
Boat insurance policy levels
There are a number of different components that are available as part of a boat insurance policy. In addition to basic policies that provide protection from the most typical types of losses, there are a number of different policy options that provide more robust coverage. It makes sense to look at all of your policy options, especially if you want features such as:
- Protection while transporting your vessel
- Coverage while your boat is in the marina or dry dock
- Towing coverage
- Increased coverage for medical expenses
- Reimbursement for loss or damage due to theft or vandalism
Protecting your boat, yourself, and your passengers are the primary purposes of boat insurance, but your policy doesn’t need to stop there. If you are considering a boat purchase, or think that it’s time to upgrade your current policy, there’s no time like the present!
Your boat insurance policy options
Here at Pikes Peak Insurance Agency, we take the time to understand our clients’ needs. If you are a boat owner in the greater Falcon, CO area and want to review your boat insurance, give us a call today!
When you are in the CO area, there are many fun recreational activities to enjoy all year. While this includes skiing in the winter, it also includes enjoying all the local lakes in the summer. For those in this area of the state, getting a boat can be a great option if you fully enjoy the area. Along with a boat, people need to have boat insurance for a few reasons.
Insurance Protects Assets
A key reason that anyone here is going to need to have a boat insurance plan is to help protect their assets. Those who would like to have this insurance protection will know that they will have the support needed to repair or replace their boat after an accident or if it is stolen and incur a loss.
Boat Insurance is Required in Many Cases
There are also many cases when having this coverage is a requirement. Boat owners worldwide will need to have coverage if they have taken out a boat loan from a lender with insurance requirements. Further, some local marinas and access points will require all owners to carry boat insurance as long as they use their boat in these areas.
If you are interested in getting a boat in the CO area and need a new boat insurance plan, it would be helpful to call Pikes Peak Insurance Agency. The insurance professionals with Pikes Peak Insurance Agency can help you determine what your boat insurance needs are. They can then give you the additional support and guidance that you will need to choose a plan that will keep you in full compliance and protect you and your boat.