Watercraft insurance coverages go beyond the scope of a standard homeowners policy to include Roadside Assistance, which covers towing of your boat or personal watercraft for free, as long as your trailer is covered; On-Water Towing, in case you’re stranded on the water; and Uninsured Boaters coverage.
You can also choose Fuel Spill Liability and Wreckage Removal coverage with watercraft insurance.
Without these watercraft insurance coverages, you may end up getting stuck with the bill for cleanups and removals. Personal Effects and Fishing Equipment coverages are also available.
Think about replacement costs.
Boats and personal watercraft depreciate just like cars do. A homeowners policy will only pay you actual cash value for your boat or personal watercraft, which could make it difficult to replace if it’s destroyed.
But with watercraft insurance you have Total Loss Replacement options and more. Some insurance companies will replace your boat or personal watercraft with a brand new model if the loss is within the first five model years. There is also Agreed Value coverage no matter how old your boat is.