If you’re a boat owner in Ankeny IA, you’re probably aware that you must have insurance. But what does that insurance actually cover? The required insurance does not cover damage to your boat whether it be in storage or on the water. For that, you will need additional coverage. Our team of insurance experts at Maschoff Insurance can help you take a look at the requirements for boat insurance in Iowa and what kinds of coverage are available.
Boat Insurance Requirements in Iowa
In Iowa, all boats must be insured with liability insurance. This type of insurance covers damage that you or your boat may cause to other people or property. It does not, however, cover damage to your own boat. Coverage for your own boat is not required by law, but it’s still a good idea. Two types of additional coverage are available for boats in Iowa: physical damage coverage and medical payments coverage.
Physical damage coverage insures your boat against loss or damage due to things like fire, theft, or collision. This is the type of policy you need to cover your boat when it is in winter storage or at any other time. Physical damage covers the expenses needed to repair your boat from any of the damage covered in your policy.
Medical payments coverage will pay for medical expenses incurred by you or your passengers due to an accident involving your boat.
Give Us A Call
So there you have it—a rundown of boat insurance requirements and coverage options in Ankeny, IA. Don’t hesitate to ask your agent at Maschoff Insurance any questions you may have about your coverage. Happy boating!
Boating and summer go hand in hand like fish and chips. If you live in the Ankeny, IA area and are thinking about purchasing a boat, or if you already own one, speak to Maschoff Insurance about the benefits of boat insurance today.
You can summarize the benefits of boat insurance in very few words. Protection and Peace of Mind. That is what you need to consider when you weigh up whether purchasing boat insurance is worthwhile.
No one can foresee an accident happening, which is the main benefit of boat or watercraft insurance. By purchasing a boat insurance policy, you are protecting your asset from accidental harm financially. Your boat insurance may include cover for replacement or repairs to your boat or salvage if your boat sinks.
When your boat is docked in the harbor, there is the possibility of theft or vandalism outside of the control of your property. Having boat insurance, particularly all-risk options, will let you sleep better at night, knowing your boat is covered no matter where it is, even during transportation.
Injury is another aspect you need to consider. Boating is a lovely outdoor pastime shared by many. Boat insurance with liability coverage allows you peace of mind, knowing that your guests on your boat are protected from financial repercussions if you are legally liable for their injury. It may even cover you if you are responsible for damage to another person’s property, and this does happen, especially when we are having fun and our guard is down.
Boat insurance complements homeowners insurance because sometimes the cover is not sufficient and requires more individualized policies. Speak to the helpful insurance agents at Maschoff Insurance, serving Ankeny, IA, about your watercraft insurance needs today and get your protection and peace of mind.