Speed Boats and Jet Ski Machine

You will still have to pay your deductible. Most people have $ 500 or higher deductible. If the value of your boat over a special limit, sometimes they’ll absorb your deductible. Here is an example: If the boat you $ 3,000 was stolen from your home and you have a $ 500 deductible you will most likely get $ 1,000 for it. Because you really shell out $ 2,500 after you pay your deductible. Most ships pictured above cost well over $ 1,000, and by the time you add in the outboard motor, trailer and equipment you could get close to $ 10,000 or more on some types of vessels.

Types of boats that are usually closed on your home owners policy Row boat or canoe or boat with less than 25 the number of horsepower.

You will want to check with your insurance agent about the boat or Endorsement policy for the time being your homeowner’s policy.

There are two types of coverage you will want to consider. Coverage liability and physical damage coverage. Physical damage will cover the damage done to the boat or if it is stolen and must be deducted a. Liability coverage will cover the Personal Liability & Other Medical payments and will not have a deductible. You will want to look at your homeowner’s policy to the real specific insurance because they can be different from each insurance company. You will usually find under Section II – Liability Coverages section of your home owners policy. You will also want to see under Section II – Exclusions section as well. Because this is where they will take back much coverage.

Here is the definition from my home owners policy:

Scope L – Personal Liability

If a claim is made or suit is brought against the insured for damage due to injury or property damage that applies this coverage, caused by the occurrence, we will:

1. pay up to our limit of liability for damages that the insured is legally liable; and

2. provide a defense counsel to charge us with our choice. We can make an inquiry and resolve any claim or suit that we decide accordingly. our obligation to defend a claim or lawsuit ended when the amount we pay for the damage, to effect the settlement or meet decision resulting from the incident at our limit of liability.

Coverage F – Medical Payments to Others

We will pay the cost of necessary treatment or medical ascertained that occur within 3 years from the date of the accident that caused injuries. medical costs mean a reasonable cost for medical, surgical, x-ray, dental, ambulance, hospital, professional nursing, prosthetic devices and funeral services. This coverage only applies:

1. for persons insured location with the permission of the insured;

2. for persons from the insured, if the bodily injury:

A. emerged from the conditions at the location of the insured or by immediately adjacent;

b. caused by the activities of the insured;

c. caused by the employees live in the residence of employees working trip by the insured; or

d. caused by an animal owned by or in the care of an insured;

Here are a registered Exceptions:

Scope L and M coverage does not apply to:

(I’ll skip the part that applies to this boat 🙂

e. injury or property damage arising out of the ownership, maintenance, use, loading or unloading:

(3) a boat:

(A) is owned by or leased to any insured if it has a power boat or inboard-outdrive more than 50 horsepower;

(B) is owned by or leased to any insured when the ship sailed, with or without additional power, 26 feet or more in overall length;

(C) is supported by one or more outboard motors over 25 horsepower number owned by each insured.

(D) was appointed as aircraft, air cushion, or similar craft; or

(E) is owned by the insured who is a personal watercraft use water jet pump powered by an internal combustion engine as the primary source of propulsion.

So there you have it. They do not include all of the Jet Ski’s / private boat, boat with 25 horsepower or more, sail boats longer than 26 feet and of course the airplane / racing boats etc. So if you have any or all of this you will need to get a boat (Boat) policy or policies need to add support for your current home owners.

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