Boat/Watercraft Insurance in Michigan
The state of Michigan doesn't require you to have boat/watercraft insurance. However, you should keep in mind that repairs to your boat in the case of an accident can be very costly.
Who May Require you to Have Boat Insurance?
Even though the state doesn't govern it, other entities may require you to have a valid boat/watercraft insurance policy in Troy, Lexington, MI, and surrounding areas. If your boat or watercraft is financed, the lender will require insurance on it to protect their investment. After you pay it off and own it, you should consider keeping it covered with a policy.
Many ports and marinas in Michigan require you to have boat insurance to use their facilities. If this is the case where you moor or dock your boat in a boat slip, you will be required to show proof of insurance before you can use their facilities.
Who Should Get Boat or Watercraft Insurance?
Your homeowner's policy does have a portion of it that pays for damages to your personal belongings on your property. In most cases, it will only cover an item valued at a low price point, such as a kayak or canoe without a motor. Even in this case, damages caused while in the water are not covered. So, it's best to carry a policy with North Coast Insurance Services at all times--because you never know when an accident can occur. You will likely get coverage for liability in case you cause damages to someone else's property, bodily injury, and hull insurance. You can also add on other types of coverage to make sure you are fully insured in the case of an accident.
At North Coast Insurance Services, we know that navigating the waters of boat insurance can be quite confusing and we are here to help you. You can drop in at our office in Lexington, MI and talk with a representative. We are ready to answer your questions and help you get a quote.