How Towing a Boat Affects Your Auto Insurance Policy

Your auto insurance policy is versatile enough to cover you in many situations. It will help you pay for any damage that you cause to another vehicle. However, your coverage may not assist you in repairing your damaged boat. If you plan to tow your boat multiple times, the easiest solution is to purchase boat insurance. You may qualify for a discount through your insurer if you bundle your auto insurance and boat insurance.

Damage to Your Boat

It is not a good idea to rely on auto insurance if you want coverage in case your boat gets damaged in an auto accident. Boat insurance offers more protection than a standard auto insurance policy. Boat insurance policies have unique benefits that protect you when you are towing your boat while driving. You will likely have to pay a deductible, which is the amount you are responsible for paying before your insurance covers the rest of the damage. If you purchase your boat insurance from the same place as your auto insurance, you will save money. While looking for boat insurance, try to stick to the same approach you took while searching for auto insurance. Don’t make a decision until you have explored multiple quotes. You may end up getting a better rate on your premium and qualify for multiple discounts. Make sure that you have enough coverage to protect you and your boat if you are responsible for an accident. You can amend your policy to provide extra coverage, such as damage to your trailer.

Liability Coverage

If you are towing your boat and it remains attached to your vehicle in an accident, the damage caused by the boat is covered through auto liability coverage. Research your policy limits to see how much of the damage is covered. Things may become more complicated if your boat detaches from your car. If your boat is completely separate, auto insurance will not cover the damage that your boat caused. You are not covered even if your boat was attached and suddenly separated. If you plan to tow your boat for long distances or in a densely-populated area, consider increasing your liability limits. Minimum coverage will not fully protect you if you are involved in a serious accident. Look at the declarations page of your insurance policy. This will give you a clear idea of which boats, trailers, and other accessories are covered under your auto insurance policy. Your insurance company should send you a copy of the document so that you have a good reference point. You can also rely on the declarations page if you need further clarification on an issue or you plan to file a claim.

Other Things to Consider

Your boat and trailer are unique assets that require different coverage compared to your car. If you tow your boat frequently, purchasing boat insurance is a good financial investment. Boat insurance covers your boat when you are towing it on a public road. There are advantages to bundling your auto and boat insurance together, especially if you have a high-value boat.

Consult with Reardon Agency

Simply relying on auto insurance to protect your boat is a mistake. Research boat insurance to ensure that you are covered in any situation. If you have any questions, the experts here at The Reardon Agency will assist you. Contact us today to get started on your customized watercraft insurance.

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