Boat Insurance and Natural Disasters: What’s Covered?

Whether you use your boat for sport, business, or simply to get out on the open water, you must consider your vessel’s various risks and exposures. Natural disasters are inherently relevant perils that must be accounted for. Houses, cars, and personal possessions may all be at the mercy of the forces of nature at times, but boats could be particularly vulnerable to certain incidents, as water conditions could be hazardous. 

Fortunately, the dedicated team at Esquire Insurance Services of Georgia stands ready to assist boat owners in understanding how to acquire and maintain suitable boat insurance capable of financially protecting themselves and their prized vessels.

What Natural Disasters Are Covered By Boat Insurance?

Boat insurance policies typically consist of several features or coverages. Comprehensive coverage is the key component of this type of insurance that pertains to addressing natural disasters. This feature of boat insurance primarily focuses on providing financial assistance should your vessel be damaged by noncollision incidents, such as fires, theft, vandalism and natural disasters. Suitable comprehensive coverage can provide payouts for various damage sustained by your watercraft, including to its hull, engines and equipment.

Your policy’s exact capabilities, limitations and other details may determine your ability to recoup losses arising from natural disasters. Adequately constructed boat insurance that has been tailored to your needs and preferences may render financial aid for the following:

• Floods—Whether these disasters occur while your boat is docked, tied to a pier, in storage or parked in your driveway, your boat insurance may help recoup losses arising from floods.
• Storms—Lightning strikes, strong winds and other elements of a severe storm can inflict severe damage on your boat. Fortunately, such incidents are typically included in the comprehensive coverage portion of a boat insurance policy.
• Hurricanes—Hurricanes are typically at their strongest before breaking land, making boats on the shore or out at sea particularly vulnerable. Depending on your policy, even your vessel’s complete destruction or sinking could be covered by adequate boat insurance.

While the aforementioned incidents may often be covered under many boat insurance policies, it’s critical for you to be fully aware of any exclusions in your coverage. In some cases, certain natural disasters may be specifically exempt from a policy, meaning you’d have to pay for outstanding losses and expenses out of pocket.

We’re Here to Help

At Esquire Insurance Services of Georgia, our dedicated team has over 40 combined years of industry experience. We will work with you to ensure you are fully aware of your boat insurance options and how coverage may financially protect you and your vessel from natural disasters. Contact us today to get started.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.